Bit Digital Becomes One of the Largest Public ETH Holders with 122,187 ETH
Bit Digital (NASDAQ: BTBT) has emerged as one of the largest publicly traded ETH holders, reporting a total of 122,187 ETH as of September 30, 2025. The holdings, valued at approximately $506.6 million based on ETH’s market price of around $4,145, underscore the company’s aggressive transition from BTC to ETH as part of its broader blockchain investment strategy.
Strong staking position boosts returns
According to Bit Digital’s latest treasury and staking report, roughly 81.8% of its ETH holdings—equivalent to about 99,936 ETH—are actively staked. This generated 291 ETH in staking rewards during September alone, representing an annualized yield of approximately 3.37%. The firm’s average acquisition cost per ETH stands at $2,643.27, suggesting a significant unrealized profit given current price levels.
Bit Digital also revealed that it purchased an additional 653 ETH in September, further increasing its overall exposure. Following the close of the reporting period, the company completed a $150 million convertible notes offering. The proceeds from this raise will primarily fund further ETH acquisitions and potential infrastructure development tied to the ETH ecosystem.
Strategic shift toward ETH dominance
Bit Digital’s ETH accumulation is part of a deliberate strategic pivot initiated earlier in 2025. The company sold approximately 280 BTC from its previous BTC treasury and used the proceeds—along with capital from a $172 million equity raise—to build a diversified and yield-generating ETH portfolio. This marked one of the first large-scale treasury reallocations from BTC to ETH among publicly listed crypto firms.
Industry analysts interpret Bit Digital’s pivot as a strong vote of confidence in ETH’s evolving economic model. The network’s proof-of-stake system allows corporate holders to earn passive income while participating in network security—an attractive proposition compared to the non-yielding nature of BTC holdings. The move also aligns with broader institutional trends toward decentralized finance (DeFi) participation and blockchain-based revenue generation.
By transitioning fully into ETH, Bit Digital has positioned itself as a major player in the institutional adoption narrative surrounding the world’s second-largest cryptocurrency. Market watchers note that staking yields and on-chain liquidity options have made ETH increasingly appealing for treasury diversification. The shift represents a broader sentiment among corporate entities viewking both long-term appreciation and consistent yield.
Bit Digital’s evolving treasury management strategy highlights a maturing approach to digital asset allocation. With over $500 million in ETH holdings and plans for continued accumulation, the company’s exposure not only enhances its balance sheet resilience but also strengthens its alignment with the growing ETH ecosystem.
As the crypto market matures, Bit Digital’s approach may serve as a blueprint for other publicly traded firms exploring blockchain-based income streams. Its transformation from a traditional BTC mining company into a yield-focused ETH powerhouse signals a broader paradigm shift—one that reinforces ETH’s emerging role at the center of institutional crypto finance.
