Ethereum News – Bit Digital, a blockchain and AI infrastructure firm, raised $162.9 million to purchase Ethereum, adding to its corporate treasury, as reported. The move, announced after a public offering, positions Bit Digital as a major ETH holder, reinforcing Ethereum’s appeal as a strategic asset for institutions.
With ETH trading at $2,900 on July 11, the purchase reflects confidence in Ethereum’s $315 billion market cap and its role in DeFi and tokenized finance.
Bit Digital’s CEO, called Ethereum “the next wave” for its real-world utility and developer base, which supports 60% of DeFi applications.
The firm’s treasury strategy aligns with companies like Tesla, which holds $2.5 billion in Bitcoin, and follows Ethereum’s ETF inflows of $1.17 billion over eight weeks.
This institutional adoption underscores Ethereum’s shift from speculative asset to financial infrastructure.
Challenges include Ethereum’s 3% staking yield lagging behind some DeFi protocols and cybersecurity risks, with Europol reporting ETH’s use in money laundering. Regulatory scrutiny, particularly in the U.S., could also impact corporate adoption.
Despite these hurdles, Bit Digital’s investment signals Ethereum’s growing legitimacy, with potential to drive further institutional interest if regulatory clarity improves.
