Bit Digital Buys ETH With $162.9M Raise, Signaling Shift in Corporate Strategy

Bit Digital (NASDAQ: BTBT) has closed a $162.9 million public offering with all proceeds going towards Ethereum (ETH) acquisition.

Written by: Arslan Butt • Thursday, July 3, 2025 • 2 min read

• Last updated: Thursday, July 3, 2025

Quick overview

Bit Digital has raised $162.9 million through a public offering to acquire Ethereum as a core treasury asset.
The company has been building a significant ETH staking operation since 2022, targeting annual returns of 3-5%.
Corporate adoption of Ethereum is increasing, with companies recognizing its yield-generating capabilities and utility in DeFi.
Data shows that a small number of institutions now hold over 70% of all corporately held ETH, indicating its strategic importance as a capital reserve.

Bit Digital (NASDAQ: BTBT) has closed a $162.9 million public offering with all proceeds going towards Ethereum (ETH) acquisition. The company fully exercised the underwriters’ options and issued 86.25 million shares. According to the company, this is part of a plan to increase ETH as a core treasury asset.

This isn’t the first time Bit Digital has dabbled in Ethereum. Since 2022 they have been building one of the largest ETH staking operations among public companies. They have validator nodes, secure custody systems and staking yield optimization tools and target 3-5% annual returns.

By holding ETH Bit Digital gets on-chain yield and exposure to Ethereum’s deflationary supply model. Unlike traditional treasury assets ETH has programmable value and utility across DeFi and Web3 infrastructure.

Institutional Adoption of ETH Is Accelerating

Bit Digital’s move is part of a broader trend of corporate adoption of Ethereum. Public companies are allocating capital to ETH not just for appreciation but to tap into its yield generating capabilities.

Recent examples:

SharpLink: Raised $425 million in May to buy over 176,000 ETH
BioNexus Gene Lab: Put ETH in its primary reserve asset in early 2025
Strategic ETH Reserve (SER): Now tracks over 1.2 million ETH held by 40+ institutions with a value of nearly $3 billion

Ethereum is evolving from a smart contract platform to a treasury grade digital asset with programmable returns and inflation resistant reserves, key qualities for institutions in today’s macro uncertainty.

ETH Concentration Signals Strategic Confidence

Data from the Strategic ETH Reserve (SER) shows 5 major participants now hold over 70% of all ETH held corporately. These are:

Ethereum Foundation
SharpLink
PulseChain Sacrifice Wallet
Coinbase
Golem Network

This concentration means Ethereum is becoming a key part of long term institutional strategies not just as a utility token but as a capital reserve with built in yield.As the staking ecosystem and Ethereum’s role in the global financial system grows more firms will follow Bit Digital’s lead. With on-chain transparency, programmable yield and growing real world use cases ETH is becoming the asset of choice for institutions exploring blockchain treasury models.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.