Bit Digital will fully transform into an Ethereum pledge and treasury company and gradually withdraw from Bitcoin mining business
According to online reports, U.S. listed company Bit Digital (code: BTBT) announced a strategic transformation. It plans to gradually stop Bitcoin mining business and gradually convert the BTC it holds into ETH, focusing on Ethereum pledge and asset allocation, becoming a "Pure Ethereum pledge and treasury company." The company will sell shares and spin off high-performance computing subsidiary WhiteFiber to raise funds to buy more ETH. As of the end of March this year, Bit Digital has held more than 24,000 ETH and 417 BTC, and operates one of the world's largest institutional Ethereum pledge infrastructures.
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