Nasdaq-listed company Bit Digital has announced the purchase of $20 million worth of Ethereum (ETH) to expand its crypto asset reserves. On May 11, the company acquired 8,568 ETH at an average price of $2,334.25 per token. As a result, Bit Digital's total Ethereum holdings reached approximately 158,462 tokens, according to a report by
Cointelegraph.com. Bit Digital CEO Sam Tabar emphasized that this purchase is part of the company's strategy to increase net asset value per share. The company not only manages Ethereum reserves but also operates in the fields of AI (artificial intelligence) infrastructure and high-performance computing. This new acquisition has allowed Bit Digital to surpass Coinbase Global and become the fourth-largest public holder of Ethereum in the world.
Standard Chartered analysts note that activity on the Ethereum network is significantly stronger than its market performance. Geoff Kendrick, the bank's head of digital assets research, reaffirmed his forecast that the price of Ethereum could reach $4,000 by the end of 2026 and $40,000 by 2030. He believes that the expansion of stablecoins and tokenization processes will increase the blockchain's value.
Meanwhile, other major companies continue to build their Ethereum reserves. For instance, Bitmine Immersion Technologies recently announced the purchase of 111,942 ETH. According to CoinGecko data, Bitmine is currently the largest public corporate holder of Ethereum with over 5.39 million ETH. Experts predict that the integration of artificial intelligence and crypto assets could trigger a new "supercycle" in the market.
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