Bit Digital sold 280 BTC to acquire over 100,000 ETH, quadrupling its ETH holdings since Q1 2025.
Bit Digital's shares surged 18% following the announcement of shifting its treasury focus to Ethereum.
The company transitioned from being Bitcoin-focused to an Ethereum treasury strategy, aiming to become one of the largest publicly traded ETH holders.
Market reacted positively to the news with Bit Digital's stock rising by 18.37% and a further 10.3% in after-hours trading, in line with a wider trend of companies increasing their Ethereum reserves.