U.S. listed Bit Digital expands its Ethereum holdings to 120,000 ETH

## Significantly expand ETH Holdings

On the 18th, the Nasdaq-listed cryptocurrency mining company Bit Digital announced that it had purchased an additional 19,683 Ethereum (ETH) with a net amount of $67.3 million raised in a funding round for institutional investors. The company's total Ethereum Holdings now stands at 120,306 ETH, amounting to approximately 63 billion yen at current prices.

The company has become one of the largest publicly traded companies holding Ethereum in the world. Following SharpLink Gaming's 353,000 ETH and Bitmine Immersion's 300,657 ETH, the competition among institutional investors for Ethereum holdings is intensifying.

Sam Taber, the CEO, stated that "Ethereum is the foundation of next-generation digital financial infrastructure," indicating an intention to continue expanding Holdings as part of a long-term strategy. He believes that the programmable nature and staking yield model represent the future of digital assets.

The company utilizes a large portion of its ETH for staking and operates validators to contribute to the security and performance enhancement of the network.

The price of ETH has been performing well recently, recording a 42.3% increase over the past 14 days.

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GateUser-90cafcd8vip
· 07-18 21:27
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