Bit Digital Buys $20M of Ethereum, Adds 8,568 ETH to 158,462 Holdings
BTBT•Bit Digital acquired 8,568 Ethereum for $20 million at an average cost of $2,334.25, raising its treasury to approximately 158,461.75 ETH and reinforcing its rank among the largest public ETH holders. The purchase lowers its average acquisition cost basis and bolsters its NAV-per-share growth strategy.
1. $20 Million Ethereum Acquisition
On May 11, 2026, Bit Digital deployed $20 million to purchase 8,568 Ethereum at an average cost of $2,334.25 per ETH. This acquisition increases the company’s total holdings to roughly 158,461.75 ETH, positioning it among the largest public holders of Ethereum globally.
2. Reduced Average Acquisition Cost Basis
By adding ETH at a sub-$2,335 cost, the company has lowered its overall average acquisition cost basis. This strategy is designed to enhance NAV per share over time by acquiring assets at favorable price points.
3. Strategic Asset Company Framework
Bit Digital operates across three verticals: disciplined ETH accumulation, AI/HPC infrastructure through WhiteFiber, Inc., and targeted strategic acquisitions. The latest purchase reflects the company’s thesis that opportunistic capital deployment across these areas will drive long-term shareholder value.
