Siebel, Thomas M, CEO of C3.ai, sells $7.6m in stock
SINGAPORE - BTC Digital Ltd. (NASDAQ:BTCT), a $32 million market cap blockchain technology company, has purchased an additional $5 million worth of Ethereum, bringing its total holdings to 2,135 ETH, the company announced Monday.
The acquisition follows last week’s $6 million financing round and represents the company’s continued implementation of its Ethereum accumulation strategy. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 27.49, suggesting ample resources for its investment initiatives.
"Ethereum is more than just a digital asset—it represents the foundational infrastructure of the global digital economy," said Siguang Peng, CEO of BTC Digital.
The company indicated it plans to maintain a "disciplined acquisition cadence" to expand its ETH reserves, adjusting purchases based on market conditions and corporate strategy.
BTC Digital describes itself as a blockchain technology company focused on developing various blockchain-related businesses in North America, including cryptocurrency mining operations and mining pool services.
The announcement comes amid ongoing volatility in cryptocurrency markets, with Ethereum remaining one of the largest cryptocurrencies by market capitalization behind Bitcoin.
This information is based on a press release issued by the company.
In other recent news, BTC Digital Ltd. has announced a strategic shift from Bitcoin to Ethereum as its core asset, supported by a $6 million financing round. The company has established a $1 million Ethereum reserve and plans to convert all its Bitcoin holdings into Ethereum, aiming to build a long-term asset pool centered around the Ethereum ecosystem. This strategic pivot includes plans to expand Ethereum reserves to tens of millions of dollars by year-end and launch a staking program. BTC Digital has also completed a $6 million registered direct offering, selling 2 million ordinary shares at $3.00 per share to institutional investors, with the proceeds earmarked for purchasing Ethereum. Aegis Capital Corp. served as the exclusive placement agent for this transaction. Additionally, BTC Digital has launched a strategic reserve program, completing a $1 million Bitcoin reserve. The company aims to support on-chain business deployment for stablecoin integrations and decentralized finance liquidity. BTC Digital’s CEO, Siguang Peng, emphasized the importance of Ethereum as infrastructure for major stablecoins, which has driven the company’s reserve strategy.
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