Bit Digital (BTBT) relocates Treasury in ETH as part of the ether-staking strategy

Bit Digital (Btbt) Is now the owner of more than 100,000 ether (ETH)after the company has repelled its Bitcoin stocks and, in the course of a capital increase of $ 172 million, has used additional capital to expand its inventory to the second largest cryptocurrency in the world.

From an inventory of 24,434 ETH at the end of March“”Bit Digital now has around 100,603 ETH worth $ 189.2 million, which means that the company is one of the largest institutional ETH owners.The company announced on Monday.“”

Bit Digital announced last month to concentrate exclusively on ETH staking in the future, which was not completely unexpected in view of the increasingly difficult environment for Bitcoin miner.experienced since the halving last year“”

Ether staking is the process in which ETH is blocked in order to contribute to securing the network and in return to receive rewards. Stakers validate transactions and create new blocks to achieve a passive income.

The halving event that takes place every four years means that the reward for adding new blocks in the Bitcoin network is reduced by 50 %, which means a significant cut in the miners' income, regardless of a rally in the price of BTC.

BTBT's shares rose 26 % to $ 3.71 on Monday. Shortly afterwards they were traded at around $ 2.The announcement made at the end of JuneFokus des Ether.