Bit Digital bought $20 million price of Ether earlier this month, rising its holdings to roughly 158,462 ETH.
The Nasdaq-listed firm mentioned Thursday it acquired 8,568 ETH (ETH) on Might 11 at a median value of $2,334.25 per token.
CEO Sam Tabar mentioned the acquisition lowered Bit Digital’s common ETH acquisition value and was a part of the corporate’s technique to develop web asset worth per share by way of 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 below the ticker WYFI.
Prime 5 Ethereum treasury corporations. Supply: CoinGecko
Based mostly on CoinGecko knowledge, Bit Digital’s beforehand reported holdings of roughly 140,008 ETH positioned it behind Coinbase International, 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 accordance to Yahoo Finance knowledge.
Supply: Yahoo Finance
Associated: Ethereum under $2K: ETH whales sell as retail remains bullish
Ethereum fundamentals stay sturdy regardless of value weak spot
The acquisition comes as some analysts argue Ethereum’s community exercise stays considerably stronger than its market efficiency. In a Thursday report, Customary Chartered mentioned 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 property analysis, Geoff Kendrick, reiterated his ETH value targets of $4,000 by the tip of 2026 and $40,000 by 2030, arguing the hole between Ethereum’s community utilization and token value may slender as stablecoin and tokenization exercise continues increasing on the blockchain.
The bullish outlook comes as some public corporations proceed increasing Ethereum treasury methods. On Tuesday, Bitmine Immersion Applied sciences mentioned it purchased another 111,942 Ether, its largest buy of the yr.
Chairman Tom Lee mentioned that Ethereum may gain advantage from a crypto “supercycle” pushed by tokenization and AI-powered brokers. In accordance to CoinGecko knowledge, BitMine Immersion at present ranks as the biggest 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 mentioned he sold the remainder of his ETH holdings after concluding the “ETH is Cash” funding thesis had largely “performed out. Hoffman mentioned Ethereum’s community might proceed rising by way of stablecoins, tokenization and layer-2 exercise, however solely a restricted share of that progress 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 practically 60% beneath its August 2025 all-time excessive close to $4,946, in accordance to CoinGecko knowledge.
Supply: CoinGecko
Journal: Big Questions: Do we really only need 2–5 cryptocurrencies
