Bitcoin Miner Bit Digital Dumped All Its BTC For ETH—And Isn’t Looking Back
Bit Digital (NASDAQ:BTBT) has made a decisive pivot away from Bitcoin (CRYPTO: BTC), converting its entire treasury to Ethereum and accumulating roughly 100,000 ETH on its balance sheet.
What Happened: Speaking to CNBC on Monday, CEO Sam Tabar described Ethereum as “alive,” “institutional,” and “the only blockchain capable of rewriting the financial system.”
“We sold a profitable business—we exited Bitcoin mining,” Tabar said. “We took the cash on our balance sheet, sold all our Bitcoin, and did this raise. I actually personally participated in that raise myself with my own savings, and we poured that all into Ethereum.”
With $172 million in capital raised and over 417 Bitcoin liquidated, the firm has now fully embraced an Ethereum (CRYPTO: ETH)-only treasury strategy.
According to Tabar, this isn’t just about asset exposure—it’s about investing in a programmable economic engine.
“Ethereum represents that next wave,” Tabar …
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