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Bit Digital Bets Big: $150M Pivot from Bitcoin Mining to Ethereum Staking
Bit Digital Bets Big: $150M Pivot from Bitcoin Mining to Ethereum Staking
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Bit Digital just flipped the script—hard. The former Bitcoin mining heavyweight is dumping its hashpower for ETH staking, moving a cool $150 million into Ethereum's proof-of-stake ecosystem. Talk about a high-stakes gamble.
Why the shift? Mining margins got you down? The numbers don't lie—this isn't a dip, it's a full-scale strategic retreat from ASICs to validators. And while Wall Street still thinks 'blockchain' is a spreadsheet upgrade, Bit Digital's playing 4D chess with yield.
One hedge fund manager's already calling it 'either genius or desperation'—but in crypto, those are often the same thing. Tick tock, next block.
In June 2025, Bit Digital (NASDAQ: BTBT) announced the pricing of an underwritten public offering of $75 million ordinary shares at $2.00 per share to raise a $150M through a public offering to purchase Ether for its treasury reserves. The firm intends to use the net proceeds to buy Ethereum.... Read More
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