Bit Digital has expanded its Ethereum holdings to over 150,000 ETH after using $150 million from the proceeds of a convertible bond sale to purchase approximately $140 million worth of 31,057 ETH.
According to data from StrategicETHReserve.xyz, this transaction included the full exercise of the underwriter's option, making the company the sixth largest Ethereum treasury among publicly listed companies.
Bit Digital CEO Sam Tabar stated, "This purchase demonstrates our commitment to creating value for shareholders by accumulating ETH through financing at a premium to net asset value per share. We believe ETH is the foundation of digital financial infrastructure and that the current level presents an attractive long-term entry point."
The newly acquired ETH was financed through Bit Digital's convertible bonds, priced at $4.16 per share, which is an 8.2% premium to the company's market value net asset value (mNAV) at the time of pricing. Notable cryptocurrency institutions participating in this issuance include Kraken Financial, Jump Trading Credit, and Jane Street Capital.
Bit Digital now holds approximately 150,244 ETH, ranking behind PulseChain Sac (160,900 ETH), the Ethereum Foundation (222,720 ETH), The Ether Machine (496,710 ETH), SharpLink Gaming (838,730 ETH), and Bitmine Immersion Technologies (2.83 million ETH).
As of the end of September, the company estimated its mNAV at $3.84 per share, supported by $512.7 million in Ethereum and $723.1 million in majority-owned subsidiary WhiteFiber Inc. shares.
Tabar indicated that Bit Digital plans to continue expanding its ETH holdings "in a cost-effective manner" while maintaining a focus on long-term net asset value growth for shareholders.
According to Cointelegraph, SharpLink Gaming's Ethereum reserves have ballooned to nearly $4 billion, with the company's unrealized profits exceeding $900 million. The company began its accumulation strategy on June 2 and has since become the second-largest institutional holder of ETH.
In total, reserve companies and ETFs hold 12.6 million ETH ($56.4 billion), accounting for over 10.3% of the total supply. Ethereum remains the second-largest cryptocurrency treasury asset globally, following Bitcoin (BTC), with approximately 4 million Bitcoins ($500 billion) held in corporate treasuries.
Related: Michael Saylor's Strategy Halts Bitcoin Purchases, Q3 BTC Holdings Profit $3.9 Billion
Original article: “Bit Digital Purchases $140 Million Worth of 31,000 ETH, Becoming the Sixth Largest Ethereum Treasury”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
