Bit Digital completes Ethereum transition, CEO Sam Tabar explains bold move
17Bit Digital CEO Sam Tabar joined Steve Darling from Proactive to announce a strategic milestone: the full transition of the company’s treasury into Ethereum, positioning Bit Digital as a premier ETH-focused public entity. Following its recent underwritten public offering, the company raised approximately $172 million in gross proceeds, deploying the capital to purchase Ethereum (ETH) and exit its Bitcoin holdings.
Prior to this move, Bit Digital held 24,434 ETH. With the infusion of new capital and the sale of approximately 280 BTC, the company has now amassed approximately 100,603 ETH, cementing its new role as a dedicated Ethereum treasury platform.
Tabar told Proactive Ethereum is on track to rewrite the global financial system. Its programmability, wide developer adoption, and evolving staking yield model set it apart as the future of digital assets. This pivot signals a clear and deliberate realignment of Bit Digital’s long-term strategy—from a traditional Bitcoin mining operation to a concentrated Ethereum-native platform with potential to serve as a cornerstone of ETH liquidity and institutional exposure in public markets.
With the shift, Bit Digital differentiates itself within the crypto mining and digital asset infrastructure space. Rather than focusing solely on mining or hardware, the firm now operates with a treasury-first approach, leveraging Ethereum’s staking ecosystem and long-term value proposition.
As institutional interest in Ethereum accelerates—fueled by the growing DeFi ecosystem, increasing Layer 2 adoption, and Ethereum’s transition to proof-of-stake—Bit Digital’s move positions it as a high-leverage play on Ethereum’s maturation.
#proactiveinvestors #bitdigitalinc #nasdaq #btbt #bitcoin #Ethereum #CryptoInvesting #Blockchain #SamTabar #BitcoinMining #ETH #CryptoTreasury #Staking #DigitalAssets