Bit Digital Boosts Ethereum Holdings wiht Major Purchase
Bit Digital is strengthening its Ethereum strategy. The company recently bought over 31,000 ETH tokens. This move shows its dedication to Ethereum as a valuable asset.
Bit Digital’s latest acquisition brings its total ETH holdings to 150,244 tokens.The firm raised $150 million through a convertible note offering. It used the funds to buy more ETH. This decision reflects its belief in Ethereum’s future.
Bit Digital’s ETH holdings are now worth over $670 million. This is a meaningful increase from the firm’s Ethereum holdings.
Bit Digital’s CEO, Sam Tabar, explained the strategy. He said, “we’re investing in ETH because we see it as key to digital finance. We’re also growing our stake in WhiteFiber, which supports our goal of increasing shareholder value.”
Investors like Kraken Financial and jane Street Capital backed Bit Digital’s $150 million offering. This shows confidence in the company’s Ethereum strategy.
