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Jun 26, 2025
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Bit Digital Transitions from BTC Mining to ETH Staking Operations

1 min

Bit Digital (BTBT) is shifting to focus on ether (ETH) staking and treasury operations, exiting the bitcoin (BTC) mining business. Key points include:

  • The company will repurpose assets and capital into its ETH strategy.
  • As of March 31, Bit Digital held 24,434.2 ETH worth $44.6 million and 417.6 BTC valued at $34.5 million.
  • Plans are in place to convert remaining BTC to ETH over time.
  • Bit Digital is selling or winding down its bitcoin mining operations to fund the transition, but no timeline is specified.
  • The move comes amid declining profitability in the mining sector post-BTC halving.
  • Bit Digital also plans to sell shares to acquire more ETH, while its subsidiary WhiteFiber aims for a public offering.

BTBT shares fell 3.41% in after-hours trading.