Bit Digital buys $20M worth of Ethereum, expands treasury to 158K ETH

📄Full Article· Automatically extracted by trafilatura2389 words

Top 5 Ethereum treasury companies. Source: CoinGecko Based on CoinGecko data, Bit Digital’s previously reported holdings of roughly 140,008 ETH placed it behind Coinbase Global, which held about 151,175 ETH. The company’s newly announced purchase would move its treasury above Coinbase’s holdings, making Bit Digital the fourth-largest public corporate Ethereum holder. The company's shares closed Wednesday at $2.03, while the stock was up roughly 35.5% over the past month, according to Yahoo Finance data. Source: Yahoo Finance Related: Ethereum under $2K: ETH whales sell as retail remains bullish The purchase comes as some analysts argue Ethereum’s network activity remains significantly stronger than its market performance. In a Thursday report, Standard Chartered said Ethereum transaction activity and total value locked remain near record levels despite ETH trading more than 50% below its 2025 highs. StanChart's global head of digital assets research, Geoff Kendrick, reiterated his ETH price targets of $4,000 by the end of 2026 and $40,000 by 2030, arguing the gap between Ethereum’s network usage and token price could narrow as stablecoin and tokenization activity continues expanding on the blockchain. The bullish outlook comes as some public companies continue expanding Ethereum treasury strategies. On Tuesday, Bitmine Immersion Technologies said it purchased another 111,942 Ether, its largest purchase of the year. Chairman Tom Lee said that Ethereum could benefit from a crypto “supercycle” driven by tokenization and AI-powered agents. According to CoinGecko data, BitMine Immersion currently ranks as the largest public Ethereum treasury holder, with more than 5.39 million ETH. The optimism contrasts with comments this week from Bankless co-founder David Hoffman, who said he sold the remainder of his ETH holdings after concluding the “ETH is Money” investment thesis had largely “played out. Hoffman said Ethereum’s network may continue growing through stablecoins, tokenization and layer-2 activity, but only a limited share of that growth ultimately accrues to ETH itself. ETH was trading around $2,013 at the time of writing, down roughly 32% year-to-date and nearly 60% below its August 2025 all-time high near $4,946, according to CoinGecko data. Source: CoinGecko Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies More on the subject

Data Status✓ Full text extractedRead Original (CoinTelegraph)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-16

Bit Digital Posts $146M Q1 Loss as Ethereum Treasury Tops 155,000 ETH

2026-05-29

Bit Digital Grows Treasury to 158,462 ETH With New $20M Purchase

2026-05-28

Bit Digital bought $20 million ETH for first time since October before 15% plunge

2026-05-18

Bitmine Buys 71,672 ETH in One Week as Tom Lee Targets 5% of Ethereum Supply

2026-05-17

BitMine Buys Another $197 Million In Ethereum As Tom Lee’s 5% ETH Strategy Presses On