PANews reported on June 26 that according to The Block, the listed company Bit Digital (stock code BTBT) announced a strategic transformation into a pure Ethereum pledge and financial asset management company. The company will gradually shut down its Bitcoin mining business and plans to "gradually" convert the 417.6 BTC (about $34.5 million) it holds into ETH, while raising funds through a public offering of shares to increase its holdings of ETH. Bit Digital currently holds 24,434.2 ETH (about $44.6 million) and operates one of the world's largest institutional-level Ethereum pledge infrastructures. The company will also spin off its high-performance computing subsidiary WhiteFiber.

This transformation continues the trend of listed companies allocating crypto assets as financial reserves, but the strategy of focusing on Ethereum is relatively rare in the industry. Previously, Consensys founder Joe Lubin also launched a similar Ethereum financial management project SharpLink.