Bit Digital Expands Crypto Reserves with $140M Ethereum Purchase
Mining giant now ranks among the world’s top six corporate ETH holders
Bit Digital has made a bold move in the crypto market by purchasing 31,057 Ethereum (ETH) worth approximately $140 million, bringing its total holdings to over 150,000 ETH. The acquisition, funded by proceeds from a $150 million convertible notes sale, cements Bit Digital’s position as the sixth-largest Ethereum treasury among publicly listed companies, according to data from StrategicETHReserve.xyz.
CEO Sam Tabar said the purchase reflects Bit Digital’s long-term confidence in Ethereum’s role as a cornerstone of digital finance. “We view ETH as foundational to digital financial infrastructure and believe current levels provide a compelling long-term entry point,” Tabar stated. The company’s convertible notes were priced at $4.16 per share—an 8.2% premium to its mark-to-market net asset value (mNAV)—and were fully subscribed by major crypto players including Kraken Financial, Jump Trading Credit, and Jane Street Capital.
Bit Digital now holds around 150,244 ETH, just behind PulseChain Sac (160,900 ETH) and the Ethereum Foundation (222,720 ETH). Industry leaders SharpLink Gaming and Bitmine Immersion Technologies remain far ahead with 838,730 ETH and 2.83 million ETH respectively.
As of late September, Bit Digital’s mNAV stood at $3.84 per share, backed by $512.7 million in Ethereum assets and $723.1 million in shares of its subsidiary, WhiteFiber Inc. The company plans to continue building its Ethereum position “in a cost-effective manner” while focusing on long-term shareholder value.
Currently, institutional and reserve entities collectively hold 12.6 million ETH—valued at $56.4 billion—representing over 10% of the total Ethereum supply. Ethereum remains the world’s second-largest corporate crypto asset, trailing only Bitcoin’s $500 billion in institutional holdings.
