BTC Digital ditches Bitcoin for Ethereum in ‘transformative’ shift

The mining firm has raised $6 million and is set to dump Bitcoin in favor of Ethereum, targeting tens of millions in ETH reserves by year-end.

Blockchain technology and mining company BTC Digital has gone all-in on Ethereum in a strategic shift and the closure of a $6 million financing round. 

The firm, listed under the ticker BTCT on the Nasdaq, announced a “transformative, strategic shift” to fully embrace Ether (ETH) as its “core asset and operational foundation” on Thursday. 

The company revealed that it has added a new $1 million Ether position and going forward intends to convert all existing and future Bitcoin (BTC) holdings into ETH to build a “long‑term, productive on‑chain asset pool and to anchor its mid‑ and long‑term growth around the Ethereum ecosystem.”

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  • tetherTether(USDT)$1.00-0.08%
  • binancecoinBNB(BNB)$217.290.72%
  • rippleXRP(XRP)$0.521.75%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • cardanoCardano(ADA)$0.260196-0.85%
  • dogecoinDogecoin(DOGE)$0.0631641.33%
  • tronTRON(TRX)$0.0774861.09%
  • polkadotPolkadot(DOT)$4.501.99%
  • litecoinLitecoin(LTC)$65.301.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,065.000.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.59-0.41%
  • uniswapUniswap(UNI)$4.58-0.60%
  • stellarStellar(XLM)$0.1229001.01%
  • moneroMonero(XMR)$141.101.34%
  • aaveAave(AAVE)$56.961.06%
  • havvenSynthetix Network(SNX)$2.06-0.07%
  • tezosTezos(XTZ)$0.701.39%
  • eosEOS(EOS)$0.581.13%
  • theta-tokenTheta Network(THETA)$0.641.26%
  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
  • nemNEM(XEM)$0.025210-0.32%