Bit Digital bought $20 million price of Ether earlier this month, growing its holdings to roughly 158,462 ETH.
The Nasdaq-listed firm stated Thursday it acquired 8,568 ETH (ETH) on Could 11 at a median worth of $2,334.25 per token.
CEO Sam Tabar stated the acquisition decreased Bit Digital’s common ETH acquisition value and was a part of the corporate’s technique to develop internet asset worth per share by Ethereum accumulation, AI infrastructure and acquisitions.
Bit Digital operates throughout Ethereum treasury administration, AI and high-performance computing infrastructure and strategic acquisitions. Its WhiteFiber subsidiary trades on Nasdaq beneath the ticker WYFI.
High 5 Ethereum treasury firms. Supply: CoinGecko
Primarily based on CoinGecko knowledge, Bit Digital’s beforehand reported holdings of roughly 140,008 ETH positioned it behind Coinbase World, which held about 151,175 ETH. The corporate’s newly introduced buy would transfer its treasury above Coinbase’s holdings, making Bit Digital the fourth-largest public company Ethereum holder.
The corporate’s shares closed Wednesday at $2.03, whereas the inventory was up roughly 35.5% over the previous month, in line with Yahoo Finance knowledge.
Supply: Yahoo Finance
Associated: Ethereum under $2K: ETH whales sell as retail remains bullish
Ethereum fundamentals stay sturdy regardless of worth weak point
The acquisition comes as some analysts argue Ethereum’s community exercise stays considerably stronger than its market efficiency. In a Thursday report, Normal Chartered stated Ethereum transaction exercise and whole worth locked stay near record levels regardless of ETH buying and selling greater than 50% beneath its 2025 highs.
StanChart’s international head of digital belongings analysis, Geoff Kendrick, reiterated his ETH worth targets of $4,000 by the tip of 2026 and $40,000 by 2030, arguing the hole between Ethereum’s community utilization and token worth may slim as stablecoin and tokenization exercise continues increasing on the blockchain.
The bullish outlook comes as some public firms proceed increasing Ethereum treasury methods. On Tuesday, Bitmine Immersion Applied sciences stated it purchased another 111,942 Etherits largest buy of the 12 months.
Chairman Tom Lee stated that Ethereum may gain advantage from a crypto “supercycle” pushed by tokenization and AI-powered brokers. Based on CoinGecko knowledge, BitMine Immersion presently ranks as the most important public Ethereum treasury holder, with greater than 5.39 million ETH.
The optimism contrasts with feedback this week from Bankless co-founder David Hoffman, who stated he sold the remainder of his ETH holdings after concluding the “ETH is Cash” funding thesis had largely “performed out. Hoffman stated Ethereum’s community might proceed rising by stablecoins, tokenization and layer-2 exercise, however solely a restricted share of that development in the end accrues to ETH itself.
ETH was buying and selling round $2,013 on the time of writing, down roughly 32% year-to-date and almost 60% beneath its August 2025 all-time excessive close to $4,946, in line with CoinGecko knowledge.
Supply: CoinGecko
Journal: Big Questions: Do we really only need 2–5 cryptocurrencies
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