According to The Block, listed company Bit Digital (stock code BTBT) announced its strategic transformation into a pure Ethereum staking and financial asset management company. The company will gradually shut down its Bitcoin mining business and plans to "gradually" convert its 417.6 BTC (approximately $34.5 million) holdings into ETH, while raising funds to increase its ETH holdings through a public offering of stocks. Bit Digital currently holds 24434.2 ETH (approximately $44.6 million) and operates one of the world's largest institutional level Ethereum staking infrastructures. The company will also spin off its high-performance computing subsidiary WhiteFiber. This transformation continues the trend of listed companies allocating encrypted assets as fiscal reserves, but a strategy focused on Ethereum is relatively rare in the industry. Previously, Joe Lubin, the founder of Consensys, also launched a similar Ethereum financial management project called SharpLink.