BTC Digital Invests $1M in Ethereum, Calls It “New Digital Gold”

Bitcoin mining firm BTC Digital (NASDAQ: BTCT) has invested $1 million of company funds into Ethereum (ETH), shifting part of its treasury away from Bitcoin in a strategic pivot toward on-chain finance. CEO Siguang Peng announced the move in a press release, calling Ethereum the new “digital gold” and emphasizing its role as “the foundation of on-chain USD settlement and value transfer.”

The company plans to expand its ETH holdings over time, positioning itself for growth in decentralized finance (DeFi), stablecoin issuance, and asset tokenization. Peng stated that the initial ETH reserve reflects a proactive strategy to align with Ethereum’s growing utility and the evolving regulatory environment in the U.S.

BTC Digital’s shift comes amid a broader transformation of the firm. Formerly focused on large-scale Bitcoin mining, including a 20-megawatt project in Georgia, BTCT is now evolving from a traditional “hash-rate provider” into an “on-chain financial infrastructure participant.”

This move follows a similar shift by Bit Digital (NASDAQ: BTBT), which recently converted its entire Bitcoin treasury to Ethereum to pursue a staking-based model. BTBT’s stock surged 30% after the announcement, though it later corrected by nearly 20%.

BTCT’s Ethereum announcement boosted its stock 13% by the close of Friday’s trading session. Public Ethereum treasuries, including those held by DAOs, Layer-2 networks, and public firms, now hold over 1.34 million ETH, according to public data.

This growing trend signals increasing institutional interest in Ethereum as a financial backbone for Web3, DeFi, and tokenized assets—highlighting ETH’s rising status as a treasury asset for forward-looking crypto companies.