Bit Digital (BTBT), a NASDAQ-registered crypto company that recently pivoted on its Ether (ETH)-centric financial strategy, said it had purchased 19,683 ETH on Friday using funds from $67.3 million in direct products.
The purchase brings the company’s holdings to ETH of over 120,000, worth around $432 million at its current price.
The company’s stock initially surged 10% on the news before cutting early profits. Recently, it traded 2.5% lower.
BIT Digital is one of many companies that have recently pivoted into cryptocurrency strategies. The company announced its exit from Bitcoin last month
Mining focuses solely on ether staking and financial operations.
Read more: Ethereum’s biggest Wall Street Bullup stock sales to ETH TRESURY up to $600 million
