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Bit Digital will fully transform into an Ethereum staking and treasury company, gradually exiting the Bitcoin mining business.
[Bit Digital will fully transform into an Ethereum staking and treasury company, gradually exiting Bitcoin mining business] The US-listed company Bit Digital (Ticker: BTBT) announced a strategic transformation, planning to gradually stop its Bitcoin mining business and convert its held BTC into ETH, focusing on Ethereum staking and asset allocation, becoming a “pure Ethereum staking and treasury company.” The company will sell stock and spin off its high-performance computing subsidiary WhiteFiber to raise funds to purchase more ETH. As of the end of March this year, Bit Digital held over 24,000 ETH and 417 BTC, and operates one of the largest institutional-grade Ethereum staking infrastructures globally.