Bit Digital, Inc. (BTBT) Ethereum Holdings Grow to $532.5 Million

Bit Digital, Inc. (NASDAQ:BTBT) is one of the best cryptocurrency stocks to buy according to Wall Street analysts. On September 4, the company confirmed that it held approximately 121,252 Ethereum, valued at $532.5 million as of the end of August.

Bit Digital, Inc. (BTBT) Ethereum Holdings Grow to $532.5 Million

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The company had staked 105,031 Ethereum coins, approximately 86.6% of its total holdings, thereby generating 249 ETH in rewards. Consequently, the company is on track to generate an annualized yield of 2.94%.

The total ethereum holdings include 15,084 ETH coins and ETH equivalents held in externally managed funds. It also owns 5,094 ETH presented on an as-converted basis from LsETH.

Bit Digital, Inc. (NASDAQ:BTBT) engages in digital asset production by mining Bitcoin, staking Ethereum to earn yield and grow its treasury, and providing high-performance computing (HPC) infrastructure for artificial intelligence (AI) applications and other uses.

While we acknowledge the potential of BTBT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTBT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.