Bitcoin Mining Company Shifts Into Ethereum Holdings, Declares ETH ‘Digital Gold’

BTC Digital (NASDAQ: BTCT), a company previously focused solely on bitcoin mining, has announced it has added $1 million worth of ether (ETH) to its balance sheet, declaring Ethereum as its new “digital gold.”

CEO Siguang Peng shared the news in a press release, emphasizing Ethereum’s crucial role in powering decentralized finance, stablecoins, and asset tokenization.

“With an initial $1 million investment in ETH—and plans to grow that position—we’re positioning BTC Digital for the expanding opportunities in DeFi, stablecoin markets, and asset tokenization,” Peng said.

The company noted that it plans to increase its ether holdings further as Ethereum’s network upgrades enhance scalability and regulatory clarity emerges in the U.S.

While BTC Digital has made its name in bitcoin mining, it recently highlighted significant progress on a new 20-megawatt mining facility in Georgia. The company hasn’t indicated whether it will continue mining bitcoin long-term but said it’s shifting from being purely a “hash-rate provider” to becoming a more diversified “on-chain financial infrastructure participant.”

BTC Digital becomes the second publicly traded bitcoin mining firm to pivot into holding ether reserves. Earlier this month, Bit Digital (NASDAQ: BTBT) announced it had shifted its entire treasury from bitcoin to ether as part of a staking-focused strategy. Bit Digital’s shares initially surged 30% following the news but have since corrected about 20%.

BTC Digital’s stock, meanwhile, ended Friday’s trading session up 13%.

Across the broader ecosystem, publicly reported ether treasuries—including holdings from decentralized autonomous organizations (DAOs), Layer-2 networks, and public companies—now total over 1.34 million ETH, according to blockchain tracking data.