According to CoinDesk, Ethereum treasury company Bit Digital (BTBT) purchased 8,568 ETH on May 11 at an average price of approximately $2,334, investing about $20 million, marking its first increase in holdings since October of last year. Subsequently, the price of ETH fell below $2,000, a pullback of about 15% from the purchase price, and the position is currently showing a paper loss of about $3 million. In recent years, Bit Digital has transformed from a Bitcoin mining company into a "strategic asset company" focusing on ETH reserves, AI infrastructure, and mergers and acquisitions. This latest move has increased its ETH treasury size to approximately 158,462 ETH (approximately $313 million at current prices), some of which has been generated through staking and liquidity staking products.
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