Bit Digital Inc (NASDAQ:BTBT) announced that it acquired 653 Ethereum (ETH) in September 2025.
The digital asset platform said its total average ETH acquisition price for all its holdings was $2,643.27 per ETH.
The company added that its total staked ETH was ~99,936, or ~81.8% of its total holdings, as of September 30, 2025.
As well, Bit Digital said its staking operations generated about 291 ETH in rewards during the period, representing an annualized yield of approximately 3.37%.
The company also held about 27 million WhiteFiber shares as of September 30, 2025.
In addition, Bit Digital disclosed it has purchased about 31,057 ETH using the net proceeds from its recently completed $150 million convertible notes offering.
Following this transaction, Bit Digital said it now holds about 150,244 ETH, as of October 8, reinforcing its position among the largest institutional Ethereum treasuries in the public markets.
The company noted that it held 121,252 ETH valued at approximately $4,229 per ETH, or $512.7 million, as of September 29, 2025, which reflected the market values at the time the convertible notes were priced.
"This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV (net asset value) per share," Bit Digital CEO Sam Tabar said in a statement.
"The structure of our convertible notes allowed us to raise capital at a premium to mNAV (mark-to-market net asset value), and we have deployed those proceeds directly into ETH."
Bit Digital estimates its mNAV at approximately $3.84 per share, which is calculated by totaling the value of its ETH holdings and its ownership stake in WhiteFiber divided by the number of its outstanding ordinary shares.