Bit Digital just added another 8,568 ether to its corporate treasury, spending $20 million on the purchase. The buy brings the firm's total ethereum stack to 158,462 ETH — a position that signals the bitcoin miner is doubling down on the second-largest cryptocurrency.
The purchase in numbers
The transaction, disclosed late Thursday, works out to an average price of roughly $2,334 per ether. That's a meaningful bet for a company better known for mining bitcoin. Bit Digital didn't say where it bought the coins or whether it used OTC desks, but the $20 million outlay is one of its largest single ether buys this year.
Why ether, why now
The purchase supports what Bit Digital calls a broader strategy spanning ethereum, AI infrastructure, and strategic acquisitions. The company's CEO has publicly backed the ethereum digital economy thesis — the idea that ether's value comes from its role powering DeFi, NFTs, and other on-chain activity, not just store-of-value rhetoric. Bit Digital has been gradually shifting its treasury mix, and this latest buy suggests management sees more upside in ETH relative to its bitcoin holdings.
What the treasury looks like now
158,462 ETH is a lot of ether for a publicly traded mining company. At current market prices, that stash is worth well over $350 million. The firm also holds bitcoin, but it doesn't break out the exact split in every disclosure. What's clear is that Bit Digital is treating ether as a core corporate asset, not a side bet.
The timing isn't random. Ethereum's network has been through the Dencun upgrade earlier this year, and layer-2 activity keeps climbing. Bit Digital's CEO sees the infrastructure maturing enough to justify a larger allocation.
For now, the company says it will keep executing on its strategy — more AI infrastructure investments, more acquisitions, and apparently, more ether. No word yet on whether the next buy will be bigger.
