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Bit Digital purchased $20 cardinal worthy of Ether earlier this month, expanding its holdings to astir 158,462 ETH.
The Nasdaq-listed institution said Thursday it acquired 8,568 ETH (ETH) connected May 11 astatine an mean terms of $2,334.25 per token.
CEO Sam Tabar said the acquisition reduced Bit Digital’s mean ETH acquisition outgo and was portion of the company’s strategy to turn nett plus worth per stock done Ethereum accumulation, AI infrastructure and acquisitions.
Bit Digital operates crossed Ethereum treasury management, AI and high-performance computing infrastructure and strategical acquisitions. Its WhiteFiber subsidiary trades connected Nasdaq nether the ticker WYFI.
Top 5 Ethereum treasury companies. Source: CoinGecko
Based connected CoinGecko data, Bit Digital’s antecedently reported holdings of astir 140,008 ETH placed it down Coinbase Global, which held astir 151,175 ETH. The company’s recently announced acquisition would determination its treasury supra Coinbase’s holdings, making Bit Digital the fourth-largest nationalist firm Ethereum holder.
The company's shares closed Wednesday astatine $2.03, portion the banal was up astir 35.5% implicit the past month, according to Yahoo Finance data.
Source: Yahoo Finance
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Ethereum fundamentals stay beardown contempt terms weakness
The acquisition comes arsenic immoderate analysts reason Ethereum’s web enactment remains importantly stronger than its marketplace performance. In a Thursday report, Standard Chartered said Ethereum transaction enactment and full worth locked stay near grounds levels contempt ETH trading much than 50% beneath its 2025 highs.
StanChart's planetary caput of integer assets research, Geoff Kendrick, reiterated his ETH terms targets of $4,000 by the extremity of 2026 and $40,000 by 2030, arguing the spread betwixt Ethereum’s web usage and token terms could constrictive arsenic stablecoin and tokenization enactment continues expanding connected the blockchain.
The bullish outlook comes arsenic immoderate nationalist companies proceed expanding Ethereum treasury strategies. On Tuesday, Bitmine Immersion Technologies said it purchased different 111,942 Ether, its largest acquisition of the year.
Chairman Tom Lee said that Ethereum could payment from a crypto “supercycle” driven by tokenization and AI-powered agents. According to CoinGecko data, BitMine Immersion presently ranks arsenic the largest nationalist Ethereum treasury holder, with much than 5.39 cardinal ETH.
The optimism contrasts with comments this week from Bankless co-founder David Hoffman, who said helium sold the remainder of his ETH holdings aft concluding the “ETH is Money” concern thesis had mostly “played out. Hoffman said Ethereum’s web whitethorn proceed increasing done stablecoins, tokenization and layer-2 activity, but lone a constricted stock of that maturation yet accrues to ETH itself.
ETH was trading astir $2,013 astatine the clip of writing, down astir 32% year-to-date and astir 60% beneath its August 2025 all-time precocious adjacent $4,946, according to CoinGecko data.
Source: CoinGecko
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