Company’s description: Focusing on ETH Stinging instead of BTC

Bit Digital said on Wednesday that he would sell Bitcoin mining infrastructure or that he would gradually disable. With this transformation, the company aims to convert all BTC reserves into ETH. However, there was no clear date on when the transformation would be completed.

📣 “Bit Digital will continue on its way with its pure Ethereum stinging and treasure model.”

Since 2022, the company has started its activities for development and stinging infrastructure. As of the end of March, the reserves had 24,434 ETH and 417 BTC. In the event that all BTC assets are transformed at present prices, more than 18,000 new ETH can be obtained and the total ETH reserve can exceed 42,000.

💸 Share Sales and Fund Use

Bit Digital also announced that he will receive ETH with the income he will earn by selling his own shares. This means that the company will further increase its loyalty to ETH.

📉 Hard drop in shares: market reaction

The company’s turning from Bitcoin to Ethereum was negatively met by investors. The bit digital share (BTBT) decreased to $ 2.35 with a decrease of 3.69 %. Then, after the session, it decreased by 3.83 %to $ 2.26.

📉 stock performance:

Decrease since the beginning of the year: 25 %

Loss according to the summit on January 6, 2025: 39 %

🧾 Financial view: Decline in income and profit margin According to the March quarter data:

Net Income decreased by 18 %

Net profit margin narrowed by 240 %

These results show that the company is under financial pressure when entering the transformation process.

🏗️ New Investments for Artificial Intelligence and HPC

In April, Bit Digital bought $ 53 million industrial buildings in North Carolina. This step reflects the company’s plans to invest in artificial intelligence and high -performance informatics (HPC) infrastructure.

🧠 Ethereum -oriented public companies are increasing

In addition to Bit Digital, some other public companies turn to Ethereum:

🎰 Sharplink Gaming received ETH worth $ 463 million on June 13th.

The same company added an more ETH of $ 30 million on June 18th.

Coinbase ranks second in ETH reserves.

🔎 According to Strategic Eth Reserve data, Bit Digital is currently the third largest publicly available company that holds ETH.

🧭 Evaluation: Strategic shift from Bitcoin to Ethereum

Bit Digital’s move shows that crypto companies are no longer not only for mining, but also to Stinging, AI and Corporate Blocking solutions. With its stinging infrastructure and deflationist structure, Ethereum begins to play an increasingly central role in its corporate reserve strategies.

However, it seems to be perceived as a risky maneuver by the market.