Bit Digital (BTBT) Boosts Ethereum Holdings to 158K ETH with $20M Buy
Bit Digital (NASDAQ: BTBT) has ramped up its Ethereum holdings with a $20 million purchase, adding 8,568 ETH to its treasury at an average price of $2,334.25 per token. This acquisition, made on May 11, 2026, pushes the companys total ETH reserves to 158,462 ETH—surpassing Coinbase Global to become the fourth-largest public corporate Ethereum holder, according to CoinGecko data. The move reflects Bit Digital‘s ongoing pivot toward an Ethereum-centric strategy. CEO Sam Tabar emphasized that the purchase lowered the firm’s average acquisition cost and aligns with its broader objectives to increase net asset value per share through Ethereum accumulation, AI infrastructure investments, and strategic acquisitions. The company operates across Ethereum treasury management, AI/high-performance computing (HPC), and other blockchain-related ventures. Bit Digital‘s Ethereum holdings now outpace Coinbase Global’s 151,175 ETH, signaling aggressive positioning in the race for on-chain dominance among public companies. While BitMine Immersion Technologies leads with over 5.39 million ETH, Bit Digitals latest purchase cements its position among top-tier Ethereum treasury holders. Market Context and Performance The timing of Bit Digital‘s purchase is noteworthy. Ethereum (ETH) was trading around $2,006.61 as of May 29, 2026, down roughly 60% from its August 2025 all-time high of $4,946. Despite the price weakness, Ethereum’s network fundamentals