Bit Digital buys 8,568 ETH, becomes fourth‑largest holder

A Nasdaq-listed company has significantly expanded its holdings of Ethereum, a leading cryptocurrency, as part of a deliberate corporate strategy. Bit Digital announced it purchased 8,568 ETH for $20 million on May 11, acquiring the tokens at an average price of $2,334.25 each.

The transaction increases Bit Digital’s total Ethereum treasury to approximately 158,462 ETH, valued at roughly $313 million based on recent prices. According to data from CoinGecko, this purchase moves the company ahead of Coinbase Global to become the fourth-largest public corporate holder of Ethereum.

Chief Executive Officer Sam Tabar stated the purchase was made to lower the company’s average cost of acquiring Ethereum and is part of a broader plan to grow net asset value per share. He described Ethereum as foundational infrastructure for the future digital economy. The company’s strategy focuses on three areas: Ethereum treasury management, artificial intelligence and high-performance computing infrastructure through its subsidiary WhiteFiber, and strategic acquisitions.

This acquisition follows public comments Tabar made in March, where he characterized recent market conditions for Ethereum as...