Bit Digital Makes Bold Move: Swaps Entire 280 BTC Treasury for $172M Ethereum Bet

Bit Digital just flipped the script—dumping its entire Bitcoin war chest for a massive Ethereum position. Here's why it matters.

The great crypto reshuffle

The mining firm liquidated its 280 BTC reserves—worth roughly $172 million—to double down on ETH. No half-measures here: this is a full portfolio pivot timed during Ethereum's infrastructure boom.

Institutions playing hot potato with assets

While retail traders obsess over memecoins, Bit Digital's move highlights how serious players are repositioning. (Wall Street would call this 'portfolio rebalancing' while charging you 2% for the privilege.)

The bottom line

One miner's exit is another's entry—and this nine-figure bet proves institutional crypto strategies are getting bolder. Whether this ages like fine wine or milk depends entirely on ETH's ability to deliver on its scaling promises.

Shift in corporate demand

Ethereum developer and advocate Eric Conneron social media, tracing the timeline from the March 31 filing to the July 7 announcement and calculated a fourfold increase in the firm’s ETH stack within one quarter. 

He argued that staking yield turns corporate treasuries into self-funding engines, contrasting Bit Digital’s MOVE with Strategy’s decision to remain exclusively in Bitcoin. 

Conner added that public company demand for Ether appears to outpace the network’s monthly issuance of about 112,000 ETH, citing recent treasury moves by fund manager Tom Lee and Consensys founder Joseph Lubin at the SharpLink board.

Bit Digital’s strategy aligns with a broader shift among former proof-of-work miners who faced margin compression following Bitcoin’s most recent block reward halving. 

By pivoting to proof-of-stake economics, the firm can generate a predictable reward rate of approximately 4% without the energy costs associated with hash rate procurement.