Gold prices slip slightly after recent gains; U.S. data eyed
SINGAPORE - BTC Digital Ltd. (NASDAQ:BTCT), a blockchain technology company with a market capitalization of $32 million, has launched a strategic Bitcoin and Ethereum reserve program with the completion of a $1 million Bitcoin reserve, the company announced Monday.
The blockchain technology firm, which maintains a strong balance sheet with more cash than debt and a healthy current ratio of 27.5, had previously established a $1 million Ethereum strategic reserve last week and plans to increase its total crypto reserves to over $10 million by the end of 2025.
According to the company, the reserves will support three primary functions: on-chain business deployment for stablecoin integrations and decentralized finance liquidity, infrastructure for real-world assets (RWA), and balance sheet stability.
"BTC and ETH represent the ’central-bank-grade assets’ of the stablecoin and RWA era," said Siguang Peng, CEO of BTCT, in the press release statement.
The company indicated it will continue monitoring developments in on-chain U.S. dollar tokens, digital credit, and asset tokenization. Future initiatives under consideration include Ethereum staking, Bitcoin-backed stable-asset programs, and a real-world asset issuance platform. According to InvestingPro, BTCT has demonstrated strong momentum with a 31% return over the past week, despite facing profitability challenges with negative earnings per share.
BTC Digital describes itself as a blockchain technology company with operations in cryptocurrency mining, mining farm construction, and related services in North America.
The announcement comes as more companies explore strategic cryptocurrency holdings amid growing institutional interest in digital assets.
In other recent news, BTC Digital Ltd. has announced the establishment of a $1 million Ethereum reserve, marking the first phase of its strategy to increase exposure to Ethereum’s financial infrastructure. The company cited Ethereum’s role in stablecoin infrastructure and high transaction volumes as key factors influencing this decision. Additionally, BTC Digital is advancing its cryptocurrency mining project in Georgia by implementing both air-cooling and liquid-cooling systems, a move expected to improve energy utilization and operational stability. The company has also expanded its mining capacity by deploying 400 Bitmain Antminer T21 machines to enhance Bitcoin mining and 24 Bitmain Antminer L9 machines for Litecoin mining. These developments are part of BTC Digital’s broader strategy to evolve from a cryptocurrency mining operation to a participant in on-chain financial infrastructure. The company has secured agreements with contractors and suppliers for its cooling solutions, with deployment expected to begin in 2025. BTC Digital’s CEO, Siguang Peng, emphasized their commitment to high-efficiency and green-mining solutions. The company plans to continue expanding its Ethereum holdings as market conditions and network upgrades develop.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.