Bit Digital shifts focus from BTC mining to ETH staking, considering going public with subsidiary.

From Yahoo Finance: 2025-06-25 17:23:00

Bit Digital (BTBT) is shifting focus to become an ether ETH staking and treasury operation, exiting bitcoin BTC mining completely. The New York-based firm holds 24,434.2 ETH worth $44.6 million and 417.6 BTC worth $34.5 million, with plans to convert remaining bitcoin to ether.

To fund the transition, Bit Digital is selling or winding down its bitcoin mining operations, reinvesting net proceeds in ether. This move signals a significant pivot from bitcoin mining, especially with the tough mining industry conditions post-halving. The firm is also selling shares to purchase more ether and considering going public with its HPC subsidiary, WhiteFiber.

BTBT is down 3.41% in after hours trading.

Read more: Bit Digital Exits BTC Mining to Focus Solely on ETH Staking Strategy