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BTC Digital strategically shifts to Ethereum and no longer holds Bitcoin, and completes $6 million in financing
Odaily News BTC Digital Ltd. (code: BTCT), a Nasdaq-listed company, announced that it will shift its core asset strategy from Bitcoin to Ethereum and has completed a $6 million financing. The company has already established a $1 million ETH position for the first time and will convert all existing and newly added BTC assets into ETH in the future, with the goal of achieving a $10 million Ethereum reserve by the end of the year.
CEO Peng Siguang said that Ethereum has become the preferred platform for decentralized finance, real-world asset tokenization, and scalable smart contracts. BTCT will launch an ETH staking plan, expand the asset pool through profit reinvestment, and participate in DeFi, RWA and stablecoin projects, transforming into a digital asset operator with production-based assets as its core.
BTCT previously focused on mining business, which covers mining farm construction, mining pool and data center operations. In the future, it will focus on infrastructure such as ETH pledge, liquidity pool, stablecoin reserve and cross-chain settlement. (Investing)
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