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SINGAPORE - BTC Digital Ltd. (NASDAQ:BTCT), a $28 million market cap blockchain technology company with a recent 12% weekly stock gain, has established a $1 million strategic reserve in Ethereum (ETH), the company announced Friday.
The blockchain technology company, which maintains a healthy balance sheet with more cash than debt and a robust current ratio of 27.5, described the acquisition as the first phase of a broader initiative to increase its exposure to Ethereum’s blockchain infrastructure and position itself for growth in digital assets. According to InvestingPro, BTCT has demonstrated strong revenue growth of nearly 29% over the last twelve months.
"As the stablecoin market continues its explosive growth, Ethereum has emerged as the foundation of on-chain USD settlement and value transfer," said Siguang Peng, CEO of BTCT.
The company cited several factors driving its Ethereum reserve strategy, including Ethereum’s role in stablecoin infrastructure, high transaction volumes, and increasing institutional adoption of ETH.
BTCT, which began as a cryptocurrency mining operation, indicated it is evolving its business model from being primarily a "hash-rate provider" to becoming an "on-chain financial infrastructure participant." The company stated it plans to increase its ETH holdings as market conditions and network upgrades develop.
The announcement represents a strategic shift for BTC Digital, which describes itself as a blockchain technology company with interests across cryptocurrency mining, mining farm construction, and related operations in North America.
The information in this article is based on a company press release statement. For deeper insights into BTCT’s financial health and growth prospects, InvestingPro offers 8 additional key tips and comprehensive financial metrics that could help inform investment decisions.
In other recent news, BTC Digital Ltd. has announced significant advancements in its cryptocurrency mining operations. The company is progressing with its 20 MW mining project in Georgia, which will feature both air-cooling and liquid-cooling systems. BTC Digital has secured agreements for a 9 MW air-cooling solution, with deployment set for October 2025. Additionally, the company will introduce liquid-cooling technology at the Georgia facility, designed to enhance energy efficiency and operational stability. BTC Digital has developed proprietary liquid-cooling components and formed a strategic alliance with a supplier to implement this technology. In another development, BTC Digital has expanded its mining capacity by deploying 400 Bitmain Antminer T21 units, increasing its Bitcoin mining hash rate by approximately 76 PH/s. The company has also added 24 Bitmain Antminer L9 units to boost its Litecoin mining capacity by 380 GH/s. CEO Siguang Peng stated that these enhancements aim to improve productivity and revenue stability, positioning the company for future expansion.
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