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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Bit Digital has completed the conversion of its corporate fund from Bitcoin to Ether
The cryptocurrency mining and staking company Bit Digital has completed the conversion of its entire corporate fund from Bitcoin to Ether, aiming to become one of the largest publicly listed holders of ETH. They have liquidated approximately 280 BTC, worth over 30 million USD, and used this money along with 173 million USD from the stock offering to purchase additional ETH, raising their total holdings to around 100,603 ETH.
CEO Sam Tabar stated that this shift is driven by Ethereum's programmable blockchain design and staking model. BTBT shares have surged over 21% following this news, with the market capitalization rising from 594 million USD to over 833 million USD. This trend reflects the growing interest of institutions in Ethereum as a payment layer for tokenized securities and stablecoins.