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Digital bit Sold 280 bitcoins (BTC) from his cash register and used the proceeds to buy Ethereum (Eth), marking the completion of a three -month transition to the cash register strategy only for the cash register.
According to a Notification 7 JulyMINER, based in New York, also closed subscribed stock sales that increased approximately $ 172 million in gross return, as stated in the company’s notification.
Management deployed net cash to get another ETH, raise the balance sheet from 24,434 ETH 31. March to about 100 603 ETH today.
Sam Tabar, CEO, said that the programmable Ethereum design, growing adoption and the native yield to “rewrite the entire financial system” and introduce excellent work with value compared to idle bitcoin.
Tabar added that the bit of digital plans “add more” ETH and location as a focused Ethereum cashier vehicle in public markets.
Before offering capital and selling coins, Bit Digital maintained a hybrid cash register that held Bitcoins and Ethereum when operating hash and validation knots.
ETH purchases eliminate BTC exposure, so the company leaves an Ether company worth approximately $ 261 million at a Monday point rate of $ 2,600.
Management intends to acquire most of the new inventory through its existing Validator infrastructure and convert the share of the yield flow in the chain that can support operating costs and future purchases.
Shift in the field of corporate demand
Ethereum developer and the defense attorney Eric Conner noted the pivot On the social media, monitoring the timeline since 31.
He claimed that the patterning yield is changing the company cash registers to self -discincy engines and contrasting with the movement of the Bit Digital S Strategy The decision to stay exclusively in bitcoins.
Conner added that the demand of a public company for Ether is exceeding a monthly network release of about 112,000 ETH, quoting Recent cash registers Tom Lee’s fund manager and Consensus founder Joseph Lubin on Sharpink advice.
The Bit Digital strategy will be cope with a wider shift between the former miners of the work of work who faced compression of margins after the last half of Bitcoins.
By turning evidence-stakes, the company can generate a predictable reward rate of approximately 4% without the cost of public opinion entry.
