Ethereum News: Bit Digital Buys 31K ETH Worth $140 Million, Becomes 6th-Largest Ethereum Treasury

Key TakeawaysBit Digital purchased 31,057 ETH worth about $140 million, bringing total holdings to 150,000 ETH.The acquisition was funded through a $150 million convertible-notes sale with full underwriter participation.The company is now the sixth-largest Ethereum treasury among public firms.Total corporate and ETF Ethereum reserves exceed 12.6 million ETH ($56.4 billion) — over 10% of supply.Bit Digital Expands Ethereum HoldingsCrypto mining and infrastructure firm Bit Digital has boosted its Ethereum (ETH) holdings to more than 150,000 ETH, following a fresh purchase of 31,057 ETH valued at roughly $140 million.The purchase, financed through proceeds from a $150 million convertible-notes offering, cements Bit Digital’s position as the sixth-largest Ethereum treasury among publicly traded companies, according to data from StrategicETHReserve.xyz.“This purchase demonstrates our commitment to building shareholder value by financing ETH accumulation on terms that are accretive to NAV per share,” said Sam Tabar, CEO of Bit Digital. “We view ETH as foundational to digital financial infrastructure and believe current levels provide a compelling long-term entry point.”Ethereum Treasuries Top $56 BillionAcross the market, public companies and ETFs hold 12.6 million ETH, worth around $56.4 billion — roughly 10.3% of Ethereum’s total supply. Ether remains the second-largest corporate crypto asset after Bitcoin (BTC), whose treasuries total about 4 million coins (~$500 billion).Bit Digital plans to continue accumulating ETH “in a cost-effective manner,” Tabar said, emphasizing long-term NAV growth for shareholders.SharpLink and Institutional ETH Demand SurgeAs Cointelegraph recently reported, SharpLink Gaming — chaired by Ethereum co-founder Joseph Lubin — has amassed nearly $4 billion in ETH, with over $900 million in unrealized profits since launching its accumulation strategy in June.