BTC Digital, a U.S.-based Bitcoin mining firm listed on Nasdaq, has announced a complete overhaul of its treasury strategy by converting all current and future Bitcoin holdings into Ethereum.
According to a recent announcement, the company views Ethereum not only as a core asset but also as the operational foundation for its long-term growth, pivoting away from its traditional mining-focused business model.
As part of the move, BTC Digital has secured $6 million in new financing and added a $1 million position in Ether. The firm plans to use these funds to accelerate ETH accumulation, with a target to build reserves worth tens of millions of dollars by the end of the year.
In addition to liquidating its Bitcoin holdings, the company aims to transition into what it describes as a “production-asset-driven digital-asset operator,” the firm said. This includes launching ETH-backed yield pools and participating in Ethereum-based decentralized finance (DeFi), real-world asset (RWA) tokenization, and stablecoin infrastructure projects.
Rationalizing the company’s decision, CEO Siguang Peng said Ethereum has become the “premier platform” for DeFi, tokenized assets, and scalable smart contracts.
“By centering our digital-asset strategy on Ethereum,” Peng said, “BTCT is creating a robust framework for long-term value creation, diversified yield sources, and innovative financial products.”
Among other initiatives, BTC Digital plans to roll out an ETH staking program. Yield generated would be reinvested to compound reserve growth, further supporting BTCT’s treasury base. Additionally, the company intends to forge partnerships across the Ethereum ecosystem, including with layer-2 networks, NFT platforms, and stablecoin issuers.
Ethereum’s appeal as a treasury asset
BTC Digital is positioning ETH not just as a store of value but as a yield-generating asset to enhance shareholder returns. The company believes that this model, rooted in active on-chain participation, offers a better risk-reward profile than passive Bitcoin holdings.
And it’s not just BTC Digital, over the past months, several public companies have embraced Ethereum as a treasury asset.
According to NoOnes CEO, Ray Youssef, Ethereum’s growing presence in the real-world asset tokenization market has significantly boosted its appeal as a corporate treasury asset.
With over $5 billion in tokenized treasuries and RWAs now managed on Ethereum, Youssef told crypto.news that the network is “becoming the de facto layer for compliant, on-chain finance.”
The ability to generate yield through native staking, combined with a deflationary fee structure, makes ETH a compoundable asset with dual financial utility.
Gaming company SharpLink, for example, acquired over 280,000 ETH, temporarily becoming the world’s largest corporate holder of Ethereum. Nearly all of its holdings are staked, generating steady on-chain returns.
However, just days later, BitMine Immersion Technologies acquired approximately 300,657 ETH and, in doing so, established itself as the largest corporate Ethereum holder to date, with its reserve valued at over $1 billion.
Meanwhile, GameSquare, which owns FaZe Clan and operates one of North America’s largest gaming networks, has raised over $90 million to fund Ethereum accumulation and staking.
