BTC Digital shifts strategy to Ethereum, no longer holds Bitcoin, and completes $6.000 million financing
Powered by ChatGPTNasdaq-listed $BTC Digital Ltd. (ticker: BTCT) has announced a strategic shift of its core assets from Bitcoin to Ethereum, and the completion of a $6.00 million financing round. The company has already established an initial position of $1.00 million in $ETH, and plans to convert all existing and new $BTC assets into $ETH, with the goal of achieving a ten million dollar-level Ethereum reserve by the end of the year. CEO Peng Siguang stated that Ethereum has become the preferred platform for decentralized finance, real-world asset tokenization, and scalable smart contracts. BTCT will launch an $ETH staking program to expand its asset pool through yield compounding, and participate in DeFi, RWA, and stablecoin projects, transforming into a digital asset operator focused on productive assets. BTCT previously focused on mining operations, with businesses covering mine construction, mining pools, and data center operations. In the future, it will focus on infrastructure such as $ETH staking, liquidity pools, stablecoin reserves, and cross-chain settlements. (Investing) [Odaily Planet Daily]