{"id":24931,"date":"2025-06-26T10:20:01","date_gmt":"2025-06-26T07:20:01","guid":{"rendered":"https:\/\/forklog.com\/en\/bit-digital-shifts-focus-from-bitcoin-mining-to-ethereum\/"},"modified":"2025-06-26T10:20:01","modified_gmt":"2025-06-26T07:20:01","slug":"bit-digital-shifts-focus-from-bitcoin-mining-to-ethereum","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bit-digital-shifts-focus-from-bitcoin-mining-to-ethereum\/","title":{"rendered":"Bit Digital Shifts Focus from Bitcoin Mining to Ethereum"},"content":{"rendered":"

Nasdaq-listed miner Bit Digital will shift its focus from digital gold to staking and storing the second-largest cryptocurrency by market capitalization, reports The Block<\/a>.<\/p>\n

<\/p>\n

The company is considering various strategic changes, including the complete cessation of bitcoin mining and the sale of assets. The proceeds are planned to be directed towards Ethereum-related projects.<\/p>\n

\"BitDig_mcap\"
Bit Digital’s market capitalization stands at $490 million. Data: Yahoo Finance<\/a>.<\/figcaption><\/figure>\n

The firm began accumulating ether and building staking infrastructure in 2022. As of March 31, 2025, its reserves included 24,434 ETH ($44.6 million) and 417.6 BTC ($34.5 million). Bit Digital plans to liquidate its remaining digital gold reserves soon.<\/p>\n

\"bitbo\"
Bitcoin reserves of Bit Digital and other public companies. Data: Bitbo<\/a>.\u00a0
<\/figcaption><\/figure>\n

Ethereum is the second-largest cryptocurrency after bitcoin, with a market capitalization of $299 billion, according to CoinGecko<\/a>. Interest in the asset from public companies is currently limited but gradually increasing.<\/p>\n

The transition of ether to the Proof-of-Stake algorithm, known as The Merge, took place in September 2022. It ended the use of the energy-intensive Proof-of-Work mechanism and marked the network’s complete abandonment of mining.<\/p>\n

\"apy\"
The annual yield of Ethereum staking is approximately 3%. Data: Staking Rewards<\/a>.<\/figcaption><\/figure>\n

\n“This has attracted the attention of companies interested in passive income from crypto assets,” noted experts at The Block.<\/cite><\/p><\/blockquote>\n

SharpLink Gaming is a notable example of public companies focusing on ether as part of their treasury management strategy.<\/p>\n

Earlier this month, the firm raised $425 million<\/a> in a private placement led by Consensys. SharpLink directed the funds towards developing its Ethereum strategy. The company’s treasury holds 188,478 ETH<\/a> valued at $490 million.<\/p>\n

The amount of coins staked in the second-largest cryptocurrency has reached<\/a> a record level of approximately 35.12 million ETH. This is about 29% of the total available supply of Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nasdaq-listed miner Bit Digital will shift its focus from digital gold to staking and storing the second-largest cryptocurrency by market capitalization, reports The Block.<\/p>\n","protected":false},"author":1,"featured_media":24930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1183,1137,46],"class_list":["post-24931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bit-digital","tag-cryptocurrency-mining","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24931"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24931\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24930"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}