FinanceShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailBit Digital Acquires $20 Million in ETH Amid Market Decline

On May 11, the company revealed that it purchased 8,568 ether at an average price of $2,334. Following this, ETH fell below $2,000, resulting in an unrealized loss of $3 million for the firm.

By Krisztian Sandor|Edited by Nikhilesh De May 28, 2026, 1:27 p.m. 2 min readMake preferred on

Bit Digital CEO Sam Tabar (Bit Digital)

Key Points:

  • Bit Digital, an Ethereum treasury firm, acquired 8,568 ETH for $20 million on May 11, marking its first purchase since October.
  • Since that acquisition, the price of Ether has decreased by approximately 15%, plunging below $2,000 and resulting in a $3 million unrealized loss.
  • Recently, many digital asset treasury firms have either reduced or ceased their crypto purchases due to the volatile market conditions.

Bit Digital (BTBT), a firm focused on Ethereum, made its first ether acquisition since the October peak of the crypto market, but the investment is already facing losses as crypto values have fallen again.

The company announced it bought around 8,568 ether for $20 million on May 11, at an average cost of $2,334 per coin.

Currently, with ETH trading near $1,980, this acquisition has resulted in an unrealized loss of about $3 million, reflecting a decline of over 15% within a few weeks.

Sam Tabar, CEO, stated that the "timing reflects our view that market conditions had reset to a level consistent with our thesis." In March, he asserted on X that the recent weakness in ETH was due to unwinding leverage rather than weakening fundamentals. He highlighted stablecoin settlements, tokenized assets, and AI-related transactions as long-term drivers of demand for the Ethereum network.

Bit Digital's strategy is notable as many digital asset treasury firms have been scaling back or halting their crypto accumulation strategies in recent months. The decline in crypto prices and the growing gap between their stock values and the actual worth of their crypto holdings have led several firms to conserve resources, limit purchases, or even liquidate assets to manage debts.

Last year, the New York-based company shifted its focus from bitcoin mining to an Ethereum-centered treasury approach. It now identifies itself as a "Strategic Asset Company" with an emphasis on accumulating ETH, developing AI infrastructure, and pursuing acquisitions.

This recent purchase has increased Bit Digital's treasury holdings to approximately 158,462 ETH, valued at around $313 million at current market prices, with some of its ETH staked and another portion utilized through liquid staking products for flexibility.

The firm also has a controlling interest in WhiteFiber (WYFI), a high-performance computing company significantly linked to the booming AI infrastructure sector.

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