What to know:
- BTC Digital (BTCT) has parted with a million bucks, dubbing ether its new “digital gold.” 🤑
- The firm’s master plan? To dive into decentralized finance, sprinkle in some stablecoin magic, and sprinkle generously with asset tokenization. ✨
- Public ether treasuries are accumulating faster than cats on the internet, currently boasting over 1.34 million ETH—who knew that was a thing? 📈
Once a humble Bitcoin mining operation, BTC Digital (BTCT) has decided to invest $1 million in ether (ETH), which it has the audacity to label as its shiny new “digital gold.” Ah, the irony! Is nothing sacred? 🥴
The esteemed CEO Siguang Peng proclaimed that Ethereum has “emerged as the foundation of on-chain USD settlement and value transfer.” This feels oddly reminiscent of my neighbor’s claim that their pet iguana is the world’s next famous art critic. 🌍
“By securing an initial $1 million ETH reserve today—and if the financial gods smile upon us—we will be ready for decentralized finance, stablecoin issuance, and asset tokenization. Maybe we can throw in a unicorn or two for good measure,” quipped Peng. 🦄
BTCT is all set to inflate its ether reserve like a balloon at a child’s birthday party as their capacity and U.S. regulations solidify. Formerly just a Bitcoin mining enterprise, they asserted that their “20 MW large–scale cryptocurrency mining project in Georgia has reached a significant milestone”—though it’s unclear if that milestone was ‘finally getting the lights to work.’ 💡
It’s rather ambiguous if they’ll keep mining Bitcoin or retire it to a quiet life in a lovely digital pasture. Building on humble beginnings, BTCT now undergoes a ‘strategic evolution’—which sounds suspiciously like corporate jargon for ‘we really don’t want to dig anymore.’ ⛏️
In a remarkable turn of events, BTCT follows in the footsteps of that charming little firm, Bit Digital (BTBT), which recently swapped its entire treasury from BTC to ETH, embracing a staking strategy. Stock prices danced with joy, initially soaring 30% before plummeting 20%, like a stock market rollercoaster. 🎢
As for BTCT, its stock closed Friday’s trading session a noteworthy 13% higher, reminding all of us that in this bizarre digital gold rush, who really knows what’s next? 📊
Public ether treasuries are growing like unruly weeds, with earnings we can only dream of, totaling over 1.34 million ETH, pulling together various organizations—from decentralized autonomous organizations to Layer-2 networks and company oddities. 🍃
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2025-07-12 20:14