Key Takeaways:
- Bit Digital purchased 8,568 ETH for $20 million on May 11 at $2,334 per token
- The acquisition pushed total treasury holdings to roughly 158,462 ETH
- Bit Digital now ranks as the fourth-largest public corporate Ether holder
Key Takeaways:

Bit Digital bought $20 million of Ether on May 11, expanding its corporate treasury to roughly 158,462 tokens and surpassing Coinbase Global as the fourth-largest public holder.
"This purchase reduced our average ETH acquisition cost and reflects our strategy to grow net asset value per share through Ethereum accumulation, AI infrastructure and acquisitions," Chief Executive Officer Sam Tabar said.
The Nasdaq-listed company acquired 8,568 ETH at an average price of $2,334.25 per token. Since then, Ether has fallen roughly 15%, sliding below $2,000 and leaving the purchase sitting on an unrealized loss of about $3 million. Bit Digital's stock closed Wednesday at $2.03, up roughly 35.5% over the past month, according to Yahoo Finance data.
The purchase comes as Ether trades near $2,013, down 32% year-to-date and nearly 60% below its August 2025 all-time high of $4,946, according to CoinGecko. Standard Chartered's Geoff Kendrick reiterated price targets of $4,000 by end-2026 and $40,000 by 2030, arguing Ethereum's on-chain activity — stablecoin settlement and tokenization — remains near record levels despite the price weakness.
Bit Digital operates across Ethereum treasury management, AI and high-performance computing infrastructure and strategic acquisitions. Its WhiteFiber subsidiary trades on Nasdaq under the ticker WYFI. The company also holds a controlling stake in WhiteFiber, a high-performance computing firm tied to the AI infrastructure buildout.
The purchase is the latest in a wave of corporate Ether accumulation. BitMine Immersion Technologies, the largest public Ether holder with more than 5.39 million ETH, bought 111,942 Ether on Tuesday in its largest purchase of the year. Chairman Tom Lee said Ethereum could benefit from a crypto "supercycle" driven by tokenization and AI-powered agents.
The bullish corporate activity contrasts with comments from Bankless co-founder David Hoffman, who said this week he sold the remainder of his ETH holdings after concluding the "ETH is Money" investment thesis had largely played out. Hoffman said Ethereum's network may continue growing through stablecoins, tokenization and layer-2 activity, but only a limited share of that growth accrues to ETH itself.
This article is for informational purposes only and does not constitute investment advice.