Bit Digital, Inc. (NASDAQ: BTBT) expanded its Ethereum treasury this month while also launching a major financing facility tied to artificial intelligence infrastructure growth through subsidiary WhiteFiber, Inc. (NASDAQ: WYFI).
The New York based digital asset and infrastructure company announced on Thursday that it purchased roughly 8,568 Ethereum tokens for USD$20 million. Additionally, the acquisition increased Bit Digital’s total Ethereum holdings to approximately 158,461.75 ETH.
The company paid an average price of USD$2,334.25 per token during the transaction. Consequently, Bit Digital now ranks among the world’s largest publicly traded Ethereum holders.
Chief executive Sam Tabar said the purchase aligned with the company’s broader strategy around Ethereum, AI infrastructure and strategic acquisitions. He also said management viewed Ethereum as foundational digital infrastructure for the future economy.
Furthermore, Tabar said the purchase lowered the company’s overall Ethereum acquisition cost basis while supporting net asset value growth per share. The company framed the acquisition as a disciplined deployment of capital during favourable market conditions.
Ethereum has gained growing institutional interest during the past year. Additionally, several public companies have expanded crypto treasury strategies beyond Bitcoin as decentralized finance and tokenization markets continue developing.
Bit Digital paired the treasury announcement with a separate financing transaction involving WhiteFiber, the AI infrastructure company in which it holds a majority ownership stake.
The company said it originated and served as lender for a USD$100 million delayed draw term loan facility supporting WhiteFiber’s expansion plans. Meanwhile, B. Riley Securities purchased a portion of the loans through Bit Digital Capital.
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Financing economics could exceed staking yields
WhiteFiber provides high performance computing and AI infrastructure services. Additionally, the financing facility could expand to USD$150 million if both parties approve additional funding.
Bit Digital said it expects to finance portions of the facility through an Ethereum-denominated secured credit structure. Consequently, the company plans to retain Ethereum exposure while earning additional returns through lending activities.
Management described the structure as an alternative treasury strategy compared with traditional Ethereum staking operations. Furthermore, the company believes the financing economics could exceed conventional staking yields while supporting WhiteFiber’s long-term expansion.
Tabar said the transaction reflected a differentiated capital allocation strategy tied closely to Bit Digital’s AI infrastructure thesis. He also said the structure balanced governance, execution and shareholder alignment considerations.
The company stated that the financing arrangement supports both treasury returns and WhiteFiber’s operational growth. Additionally, Bit Digital expects shareholders to benefit indirectly through its equity position in the subsidiary.
Both companies received fairness opinions from external financial advisors before approving the transaction. Needham and Company provided its opinion to Bit Digital’s board, while Seaport Global Securities advised WhiteFiber’s board.
Furthermore, Bit Digital said an independent committee of disinterested directors reviewed the financing structure before approval. The board examined the transaction’s economics, governance framework, strategic rationale and overall risk profile during the process.
Artificial intelligence infrastructure has become a growing focus across cryptocurrency and digital asset companies during the past two years. Meanwhile, several firms have redirected capital toward data centers, high-performance computing operations and AI hosting services as demand rises globally.
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Trend coincides with overlap between AI and crypto infrastructure
Public companies have increasingly expanded beyond Bitcoin treasury strategies as institutional interest in Ethereum continues growing. Additionally, several digital asset firms now view Ethereum as infrastructure supporting tokenization, decentralized finance and smart contract applications.
Bitwise chief investment officer Matt Hougan previously described Ethereum as “a foundational technology platform with immense potential” during a recent Blockworks interview. Hougan argued institutional investors have started treating Ethereum less like a speculative asset and more like digital infrastructure supporting future financial systems.
Meanwhile, Standard Chartered digital assets research head Geoff Kendrick has repeatedly pointed to Ethereum’s role in tokenization and decentralized finance as a driver of long-term institutional adoption. Kendrick has also forecast broader corporate treasury exposure to Ethereum as digital asset markets mature.
The trend has coincided with growing overlap between cryptocurrency infrastructure and artificial intelligence computing operations. Several former Bitcoin mining companies have redirected investment toward AI hosting, high-performance computing and data center development during the past two years.
Bit Digital’s combined Ethereum treasury strategy and WhiteFiber financing arrangement reflects that broader industry shift. The company is attempting to generate returns from Ethereum exposure while simultaneously expanding its position in AI infrastructure and high performance computing services.
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