Bankless co-founder David Hoffman not too long ago bought the final of his Ethereum holdings, saying the funding case for ETH had largely performed out. That exit got here the identical week Bit Digital went the opposite route — dropping $20 million so as to add extra to its already substantial Ethereum stash.
A Firm Constructing Round Ethereum
Bit Digital acquired 8,568 ETH on Might 11 at a median value of $2,334 per token, pushing its complete holdings to roughly 158,462 ETH. The Nasdaq-listed firm stated the acquisition was a part of a broader technique to develop web asset worth per share by way of Ethereum accumulation, AI infrastructure, and acquisitions.
In keeping with CEO Sam Tabar, the deal helped trim the agency’s common buy value. Bit Digital operates throughout three areas: Ethereum treasury administration, AI and high-performance computing infrastructure, and strategic acquisitions, with its WhiteFiber subsidiary buying and selling on Nasdaq beneath the ticker WYFI.
High 10 Ethereum treasury corporations. Supply: CoinGecko
The acquisition moved Bit Digital previous Coinbase World — which held about 151,175 ETH — to grow to be the fourth-largest public company holder of Ether, primarily based on CoinGecko information.
Different Companies Are Piling In Too
Bit Digital shouldn’t be alone. Bitmine Immersion Applied sciences made its largest ETH buy of the 12 months earlier this week, shopping for 111,942 Ether. Chairman Tom Lee stated Ethereum stands to profit from a crypto supercycle pushed by tokenization and AI-powered brokers.
Primarily based on CoinGecko information, Bitmine Immersion presently ranks as the biggest public Ethereum treasury holder, with greater than 5 million ETH.
ETHUSD buying and selling at $2,014 on the 24-hour chart: TradingView
The shopping for spree is going on whilst ETH trades nicely beneath its current highs. The token was priced round $2,013 on the time of reporting, down about 30% year-to-date and practically 60% off its August 2025 peak close to $4,946.
Worth Lags Whereas Community Exercise Holds Regular
Commonplace Chartered launched a report Thursday arguing that Ethereum’s on-chain metrics inform a special story than the worth. Transaction exercise and complete worth locked on the community stay close to report ranges, the financial institution stated, regardless of the sharp drop in token worth.
The financial institution’s international head of digital belongings analysis, Geoff Kendrick, held to a value goal of $4,000 for ETH by finish of 2026 and $40,000 by 2030. He stated progress in stablecoin use and tokenization exercise on Ethereum may shut the hole between community utilization and token value.
Hoffman, in the meantime, acknowledged that Ethereum’s community might hold increasing by way of stablecoins, tokenization, and layer-2 exercise. His concern is that solely a restricted share of that progress finally ends up benefiting ETH holders instantly.
Featured picture from Path Runner Journal, chart from TradingView
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