--- title: "Bit Digital Adds 8,568 ETH Despite Ethereum Slump" date: 2026-05-28 author: "Kathleen Kinder" featured_image: "https://coinlaw.io/wp-content/uploads/2026/05/bit-digital-buys-8-568-eth.jpg" categories: - name: "Cryptocurrency" url: "/crypto.md" tags: - name: "News" url: "/tag/news.md" --- # Bit Digital Adds 8,568 ETH Despite Ethereum Slump Bit Digital has expanded its Ethereum treasury with a new $20 million ETH purchase even as the cryptocurrency market continues to face heavy selling pressure. ## Key Takeaways - Bit Digital purchased 8,568 ETH worth around $20 million on May 11. - The company’s total Ethereum holdings now exceed 158,461 ETH, valued at roughly $313 million. - Ethereum’s price has dropped below $2,000, leaving the latest purchase sitting at an estimated $3 million unrealized loss. - CEO Sam Tabar said the company still views Ethereum as a key part of the future digital economy. ## What Happened? Nasdaq listed crypto infrastructure company **Bit Digital** has increased its Ethereum exposure after purchasing approximately **8,568 ETH** for nearly **$20 million**. The acquisition was completed on May 11 at an average price of **$2,334 per ETH**. However, Ethereum has since fallen below the **$2,000** level, pushing the company’s latest investment into an unrealized loss of roughly **$3 million** as the broader crypto market remains under pressure. > Bit Digital has purchased 8,568 ETH for $20 million USD, bringing its total holdings to 158,461.75 ETH. > > As a Strategic Asset Company, we execute when market conditions align with our thesis, deploying capital with discipline across Ethereum ecosystem strategies, AI… [pic.twitter.com/XEi88z3Nv0](https://t.co/XEi88z3Nv0) > > — Bit Digital, Inc. NASDAQ:BTBT (@BitDigital\_BTBT) [May 28, 2026](https://x.com/BitDigital_BTBT/status/2059975824023974357?ref_src=twsrc%5Etfw) ## Bit Digital Continues Ethereum Treasury Expansion The latest purchase marks Bit Digital’s first Ethereum acquisition since October, when crypto markets were trading near recent highs. Despite the recent decline in digital asset prices, the company has continued pushing forward with its [Ethereum](https://coinlaw.io/ethereum-statistics/) focused treasury strategy. Following the transaction, Bit Digital now holds approximately **158,461 ETH**, making it one of the larger publicly traded corporate holders of Ethereum. Based on current market prices, the company’s ETH treasury is valued at around **$313 million**. The company said part of its Ethereum holdings are directly staked, while another portion is deployed through liquid staking products to maintain operational flexibility. CEO **Sam Tabar** said the company remains confident in Ethereum’s long term role within the digital economy. In the company’s official statement, Tabar said: “ Our recent ETH purchase reflects our conviction in Ethereum as foundational infrastructure for the future digital economy. Sam TabarCEO – Bit Digital He also noted that the company selectively deploys capital when market conditions align with its long term investment thesis. Earlier this year, Tabar described Ethereum’s market weakness as “**more like a reset than an ending,**” arguing that the decline reflected leverage unwinding instead of weakening fundamentals. ## Ethereum Weakness Tests Corporate Conviction Ethereum has struggled in recent weeks as macroeconomic uncertainty and broader crypto market weakness weighed on investor sentiment. ETH was trading near **$1,986** at the time of reporting, representing a decline of more than **15%** since Bit Digital completed its latest purchase. ![Ethereum Token Price May 27](https://coinlaw.io/wp-content/uploads/2026/05/ethereum-token-price-may-27.jpeg)Image Credit – [CoinGecko.com](https://www.coingecko.com/en/coins/ethereum) The rapid price drop has immediately tested **Bit Digital’s Ethereum strategy**, especially as many crypto treasury companies have recently slowed down accumulation efforts. Several firms have reportedly chosen to conserve cash, reduce buying activity, or sell assets to manage debt obligations amid declining market conditions. [Bit Digital](https://coinlaw.io/bit-digital-statistics/), however, has continued moving in the opposite direction. The New York based company has spent the past year transitioning away from its Bitcoin mining roots toward a broader strategy centered on Ethereum accumulation, artificial intelligence infrastructure, and strategic acquisitions. The company now describes itself as a “**Strategic Asset Company**” with major focus areas including Ethereum, AI infrastructure, and high performance computing. ## AI Infrastructure Remains Part of Growth Strategy Beyond Ethereum accumulation, Bit Digital also maintains exposure to the growing AI infrastructure sector through its subsidiary **WhiteFiber**. The company recently announced a [delayed draw term loan facility worth **$100 million**](https://coinlaw.io/bit-digital-whitefiber-100m-ethereum-backed-loan/) for the WhiteFiber business, with provisions allowing expansion up to **$150 million** through mutual agreement. Industry interest in AI infrastructure has surged over the past year, with several crypto related firms increasingly looking to diversify operations beyond [digital asset mining](https://coinlaw.io/cryptocurrency-mining-statistics/) and treasury strategies. At the same time, institutional interest in Ethereum continues growing due to staking rewards, stablecoin infrastructure, tokenized finance applications, and blockchain settlement systems. Other publicly traded firms have also continued increasing Ethereum exposure during the recent market downturn, signaling that some companies still view ETH as a long term strategic asset despite ongoing volatility. ## CoinLaw’s Takeaway In my experience, Bit Digital’s latest move shows how some companies are treating Ethereum less like a short term trade and more like long term infrastructure. Even though the company is already sitting on paper losses, management appears focused on Ethereum’s broader role in stablecoins, tokenization, and AI-related blockchain activity rather than near term price swings. I found it interesting that Bit Digital continued buying while many other crypto treasury firms slowed down. That kind of aggressive positioning can look risky during downturns, but it also shows strong conviction in Ethereum’s future utility beyond speculation. Definition of Staking. Link to full glossary entry follows the description.**Staking**Staking is the process of locking cryptocurrency in a proof-of-stake network to help validate transactions and earn rewards, replacing energy-intensive mining. [Read more](https://coinlaw.io/glossary/staking/)