Bit Digital Inc. (NASDAQ: BTBT) purchased approximately 8,568 ethereum tokens for $20 million on May 11, 2026, according to a company statement.

The company acquired the ethereum at an average cost of $2,334.25 per token. Following this transaction, Bit Digital holds approximately 158,461.75 ethereum tokens.

"Our recent ETH purchase reflects our conviction in Ethereum as foundational infrastructure for the future digital economy," said CEO Sam Tabar in the statement. "This purchase strengthens our ETH treasury, lowers our average acquisition cost basis, and supports our commitment to NAV per share growth for our shareholders."

Bit Digital describes itself as a Strategic Asset Company operating across three verticals: ethereum accumulation, AI infrastructure through subsidiary WhiteFiber Inc. (NASDAQ: WYFI), and strategic acquisitions. The company is headquartered in New York.

In March, Tabar publicly stated that the ethereum market appeared "more like a reset than an ending," according to the press release.