Bit Digital Inc (NASDAQ:BTBT) announced that it has acquired approximately 19,683 Ethereum (ETH) using the net proceeds from its recently completed $67.3 million registered direct offering to institutional investors.
Following the purchase, the company now holds approximately 120,306 ETH.
Bit Digital highlighted Ethereum's growing role in real-world economic infrastructure, pointing to its use as collateral for stablecoins, tokenized assets, and decentralized applications.
The company also noted Ethereum’s ability to generate native yield and support programmable financial systems as central to its long-term outlook.
The latest purchase positions the company among the largest institutional Ethereum treasuries in the public markets, Bit Digital CEO Sam Tabar said in a statement.
"We view Ethereum as foundational to the next phase of digital financial infrastructure,” Tabar said.
“We believe Ethereum's programmable nature, growing adoption, and staking yield model represent the future of digital assets, and we remain committed to scaling our ETH holdings as part of that long-term strategy."
Bit Digital operates Ethereum infrastructure and stakes the majority of its ETH holdings. The company runs validators to earn yield while contributing to the performance and security of the Ethereum network.
The company said its dual role as both a participant in Ethereum’s infrastructure and a publicly listed company provides investors with regulated exposure to the network’s economics through a traditional equity vehicle.
Investors welcomed the update, sending shares of Bit Digital more than 4% higher premarket.