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
Bitcoin Bulls on Edge – the Massive $70 Million Liquidation Trap At $54,000
Currently, the crypto markets are dealing with extremely volatile conditions and there are technical indicators that say that the market could be under a “long squeeze” which could change the direction of the digital asset over a short period of time. A recent technical analysis performed by market
BlockChainReporter22m ago
Vancouver City Staff Rejects Bitcoin Treasury Idea Ahead of March 10 Council Vote
Vancouver city staff have recommended that council halt work on a motion exploring a municipal bitcoin reserve, concluding the cryptocurrency is not an allowable investment under the Vancouver Charter.
Vancouver Council to Decide Fate of Bitcoin Reserve Proposal
A March 2, 2026, report from Vanco
Coinpedia2h ago
