Bit Digital Raises Ethereum Holdings to 158K ETH After New Purchase

Bit Digital Inc. (NASDAQ: $BTBT) added another $20 million of Ethereum (CRYPTO: $ETH) to its balance sheet, extending a treasury strategy that keeps the Nasdaq-listed company tied closely to one of crypto’s weakest large-cap trades this year.

The company said it acquired 8,568 ETH on May 11 at an average price of $2,334.25 per token. The purchase lifted Bit Digital’s total holdings to about 158,461.75 ETH, keeping it among the largest public corporate holders of Ethereum and further deepening the company's presence in the digital asset treasury category.

CoinGecko data cited in the report shows the new total would put Bit Digital ahead of Coinbase Global in public-company ETH holdings. That ranking adds a marketable label to the company’s strategy, but the timing is the sharper part of the update.

More From Cryptoprowl:

• Ripple, The Company Behind XRP, Is Valued At $50 Billion

• Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge

• Blockchain Projects Decline 75% As Developers Shift To A.I.

• Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance

• New York Stock Exchange Invests $600 Million In Polymarket

Ethereum was trading near $2,000 after the announcement, leaving the latest purchase below its acquisition price on a mark-to-market basis. Bit Digital is still leaning into the asset rather than retreating from it, framing the buy as part of a longer effort to grow net asset value per share through Ethereum accumulation, AI infrastructure and strategic acquisitions.

CEO Sam Tabar said the purchase reflects the company’s conviction in Ethereum as “foundational infrastructure for the future digital economy.” He added that Bit Digital deploys capital across Ethereum ecosystem strategies, AI infrastructure, and acquisitions when market conditions align with its thesis.

That structure separates Bit Digital from companies using crypto holdings as a simpler balance-sheet trade. The company has been repositioning itself as a strategic asset business with three operating lanes: ETH accumulation, AI and high-performance computing infrastructure through WhiteFiber, and acquisition-driven growth.

The purchase also arrives as Ethereum’s market story remains unsettled. Network activity, stablecoin settlement and tokenization have kept the asset in institutional conversations, but ETH has continued to lag stronger parts of the crypto market.

Bit Digital Inc. (NASDAQ: BTBT) is currently trading at $2.02 U.S. per share. Ethereum (CRYPTO: ETH) is currently trading at $1,999.59 U.S. per digital token.