BTC Digital shifts strategy to Ethereum, exits Bitcoin holdings, and completes $6 million financing

Odaily Planet Daily reports that Nasdaq-listed company BTC Digital Ltd. (Ticker: BTCT) has announced a strategic shift of its core assets from Bitcoin to Ethereum, along with the completion of a $6 million financing round. The company has made its initial purchase of $1 million in ETH and plans to convert all existing and future BTC assets into ETH, aiming to achieve an Ethereum reserve in the tens of millions of dollars by the end of the year.
CEO Peng Siguang stated that Ethereum has become the preferred platform for decentralized finance, real-world asset tokenization, and scalable smart contracts. BTCT will launch an ETH staking program, reinvesting yields to expand its asset pool, and will participate in DeFi, RWA, and stablecoin projects, transforming into a digital asset operator focused on productive assets.
Previously, BTCT was primarily engaged in mining, covering mining farm construction, mining pool, and data center operations. Going forward, the company will focus on ETH staking, liquidity pools, stablecoin reserves, and cross-chain settlement infrastructure. (Investing)