Key Takeaways
- Bit Digital is raising $67.3 million through a share offering to expand its Ethereum holdings.
- The company has transitioned its treasury to Ethereum, now holding over 100,000 ETH.
- SharpLink Gaming has also acquired more than 26,000 ETH, reinforcing a trend among public firms.
- Ethereum is gaining traction in corporate treasuries as a yield-generating and strategic financial asset.
Nasdaq-listed Bit Digital Inc has issued 22 million shares to raise $67.3 million through a direct offering agreement involving B. Riley Securities, with plans to use the proceeds to purchase Ethereum as part of a strategic diversification beyond Bitcoin.
According to a press release published Monday, the offering is priced at $3.06 per share and conducted under a previously approved shelf registration. It targets institutional investors and is expected to close around July 15, pending customary closing conditions, with B. Riley Securities acting as the sole placement agent.
Ethereum Draws Growing Corporate Capital as Firms Chase Yield and Utility
Earlier in July, Bit Digital announced that it had fuly shifted its corporate treasury into Ethereum, becoming one of the largest public corporate holders of (ETH) after accumulating over 100,000 tokens. The company stated that the transition followed a $172 million underwritten public equity offering and the sale of approximately 280 Bitcoins to fund additional Ethereum purchases.
“We believe Ethereum has the ability to rewrite the entire financial system,” CEO Sam Tabar said, commenting on the announcement. “We are starting with exposure to over 100K ETH for now, but we intend to aggressively add more so we become the preeminent ETH holding company in the world”
Bit Digital’s recent moves, including its share offering and Ethereum accumulation, mirror those of SharpLink Gaming Inc, another Nasdaq-listed firm, which earlier this month disclosed the acquisition of more than 26,000 ETH across two transactions totaling over $74 million
On July 13, SharpLink, chaired by Ethereum co-founder Joseph Lubin, purchased 16,373 ETH in an over-the-counter transaction facilitated by Galaxy Digital. That deal came shortly after a direct acquisition of 10,000 ETH from the Ethereum Foundation, finalized on July 10 for $25.7 million.
Lubin described the acquisitions as part of a broader, long-term commitment to Ethereum’s ecosystem, as SharpLink has designated (ETH) as its primary treasury reserve asset and plans to accumulate, stake, and actively manage its holdings.
The company emphasized that its strategy is designed not only to generate yield and enhance capital efficiency, but also to reinforce the stability and growth of the Ethereum network, all while driving long-term value for shareholders.
Final Thought
The growing accumulation of Ethereum by public companies, such as Bit Digital and SharpLink, reflects a shift in institutional perception. (ETH) is increasingly being viewed not merely as a digital asset, but as a programmable, yield-generating instrument with strategic utility. As corporate treasuries emphasize capital efficiency and alignment with long-term ecosystems, Ethereum is positioning itself as a foundational layer in the architecture of future financial systems.
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