Bit Digital buys $20M worth of Ethereum, expands treasury to 158K ETH
The purchase pushed the Nasdaq-listed company ahead of Coinbase Global to become the fourth-largest public corporate holder of Ether, according to CoinGecko data.
Bit Digital purchased $20 million worth of Ether earlier this month, increasing its holdings to roughly 158,462 ETH.
The Nasdaq-listed company said Thursday it acquired 8,568 ETH (ETH) on May 11 at an average price of $2,334.25 per token.
CEO Sam Tabar said the purchase reduced Bit Digital’s average ETH acquisition cost and was part of the company’s strategy to grow net asset value per share through Ethereum accumulation, AI infrastructure and acquisitions.
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