Crypto Company Abandons Bitcoin Mining to Focus Entirely on Ethereum Staking

Crypto infrastructure firm Bit Digital is making a bold strategic pivot, abandoning Bitcoin mining entirely in favor of Ethereum staking and asset management.

The company announced that it will gradually wind down its Bitcoin operations and redeploy those resources into Ethereum, marking a rare full-scale transition in an industry still largely dominated by Bitcoin-focused operations.

Bit Digital began staking Ethereum in 2022 and has since grown its infrastructure into one of the largest enterprise-grade Ethereum staking platforms globally. Beyond staking, the company offers services in validator operations, institutional custody, yield optimization, and governance consulting for Ethereum protocols.

As of March 2025, Bit Digital held 24,434 ETH—valued at approximately $44.6 million—alongside 417 BTC, worth around $34.5 million. The company intends to fully convert its remaining Bitcoin holdings into Ethereum over time, solidifying its long-term alignment with the Ethereum ecosystem.

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This move comes as few crypto firms have embraced Ethereum-centric treasury strategies. Bit Digital’s plan draws comparisons to SharpLink, a previous initiative backed by Consensys founder Joe Lubin, which also focused on ETH as a strategic reserve asset.

To fund this transformation, Bit Digital has launched a new IPO aimed at accelerating its Ethereum acquisition. Additionally, the company will spin off its high-performance computing arm, WhiteFiber Inc., into a separate public offering—further reinforcing its commitment to a focused, Ethereum-first roadmap.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.