Bit Digital Spends $150M to Increase ETH Holding to 150K

Bit Digital Inc., a New York-based digital-asset firm, announced that it has purchased $150 million worth of Ether, increasing its total ETH reserve to 150,244 ETH, currently valued at over $600 million. The boost follows the company’s recent acquisition of 31,057 ETH, which was funded by proceeds from a $150 million fundraising round.

The announcement comes amid the Uptober frenzy, which has seen the market react positively, helping to push Ether’s price above the current $4,400.

Bit Digital’s ETH Journey

Bit Digital has fulfilled its promise to funnel funds from its fundraising into Ethereum staking. The Nasdaq-listed company has, since its pivot from Bitcoin to Ethereum, been accumulating and staking ETH. The change, according to the firm, was necessary due to rising mining costs and Ethereum’s more efficient proof-of-stake system.

By June 2024, Bit Digital had sold 452 BTC to purchase more ETH, demonstrating confidence in Ethereum despite a declining ETH/BTC ratio. However, in June 2025, it stopped all Bitcoin mining due to economic challenges. In September, the company purchased 653 ETH at an average price of $2,643, thereby increasing its total to 122,187 ETH, which was valued at approximately $506.6 million by the end of the month.

Recently, Bit Digital secured $150 million through a 4% convertible senior notes offering, which enabled it to surpass its goal of 150,000 ETH. Bit Digital made a smart move by buying at a time when the market is stable and positive.

Ethereum Price Context and Uptober Frenzy

Bit Digital now holds one of the largest publicly known Ethereum holdings, joining major companies such as BitMine Immersion and SharpLink Gaming. The firm has staked over 80% of its ETH, which means they earn rewards while helping to keep the network secure. 

By steadily acquiring ETH and using convertible debt, Bit Digital aims to increase the value of its shares. The approach appeals to investors who want to invest in digital assets without owning tokens directly. Overall, the company serves as a link between traditional finance and the growing Ethereum staking market.

Ethereum’s price has increased significantly over the past month, a trend many are calling the “Uptober” rally. It rose from about $3,800 at the beginning of September to nearly $4,500, chasing its ATH. The increase occurred due to increased investments from institutions, including a six-day period during which spot Ethereum ETFs saw net inflows of around $182 million.

The post Bit Digital Spends $150M to Increase ETH Holding to 150K appeared first on CoinTab News.