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. 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.

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This article is originally published at Insider Monkey.