Bit Digital (NASDAQ: BTBT), an Ethereum treasury company, announced plans to completely stop its Bitcoin mining business and instead focus on Ethereum infrastructure, staking, and high-performance computing (HPC/AI) strategies.
CEO Sam Tabar said in a letter to shareholders that as the market changes, mining is no longer the most capital-efficient option, and the company is concentrating its digital asset exposure to Ethereum and strengthening its AI infrastructure layout through its holding of WhiteFiber to achieve long-term growth that is operational, monetizable, and compound.
Bit Digital has been in the Bitcoin mining field since 2020 and started ETH accumulation and staking around Ethereum’s transition to PoS in 2022. The company has taken the lead in deploying HPC/AI since 2023, and will clearly transform to “pure Ethereum vaults and staking” in mid-2025, gradually selling mining machines, terminating custody contracts, and eliminating old equipment. Its AI subsidiary, WhiteFiber, completed its IPO last year, and Bit Digital currently holds about 27 million shares.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bhutan Government Transfers 250 BTC Worth $18.46M
Gate News message, the Royal Government of Bhutan transferred 250 BTC valued at $18.46M. The transaction was conducted for selling purposes.
GateNews20m ago
On-Chain Trader 0x049b Opens 20x Leveraged Long on BTC and ETH, Accumulates $5.17M Profit in Two Months
A trader known as 0x049b has opened a 20x leveraged long position, buying 269 BTC and 8,586 ETH. Over two months, they executed 47 trades, achieving a 63.83% win rate and a total profit of $5.17 million.
GateNews58m ago
Ancient Bitcoin Whale Dormant for 14.5 Years Awakens, Transfers 500 BTC Worth $37M
An ancient Bitcoin whale, inactive for 14.5 years, recently transferred 500 BTC valued at $37.04 million, leaving 2,359 BTC worth $174 million in the original address.
GateNews1h ago
Bitcoin Miner TeraWulf Raises $900M Through Stock Offering to Build AI Data Centers
TeraWulf reported a $900 million stock offering to finance AI data centers, causing its stock price to drop following the announcement, as per Gate News on April 15.
GateNews1h ago
BlackRock's iShares Bitcoin Trust Accumulates 9,631 BTC Over 5 Days
BlackRock's iShares Bitcoin Trust (IBIT) bought 2,870 BTC on April 14, continuing a streak of 9,631 BTC over five days, reflecting growing institutional participation in Bitcoin via regulated ETFs. This trend reduces market supply and enhances access and compliance for traditional investors.
GateNews2h ago
Bitcoin Developers Propose BIP 361 to Protect Against Quantum Computing Threats
Bitcoin developers have proposed BIP 361 to safeguard the network against quantum computer risks by freezing vulnerable addresses. The proposal includes a phased plan to transition users to quantum-safe wallets, but it has sparked debate on user control and security.
GateNews3h ago
