BTC Digital, a blockchain and mining company traded on Nasdaq as BTCT, has decided to shift its focus entirely to Ethereum.
The announcement came as the firm closed a $6 million funding round to support its new strategy.
The company confirmed that it has already purchased $1 million worth of Ethereum
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CEO Siguang Peng explained the decision by pointing to Ethereum’s role in decentralized finance (DeFi), real-world asset tokenization, and smart contract applications. He said these use cases make Ethereum a better fit for the company’s future plans than Bitcoin.
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By the end of 2025, BTC Digital aims to hold “tens of millions of dollars” in Ethereum. Those assets will be put to work through staking, lending in DeFi, real-world token projects, and stablecoin activities.
The company outlined several initiatives as part of this strategy. These include creating Ethereum-backed yield pools, building infrastructure for stablecoins, and expanding partnerships within the Ethereum network.
These partnerships will cover areas like decentralized finance platforms, non-fungible tokens (NFTs), and Layer-2 scaling projects.
Peng noted that focusing on Ethereum allows the company to build a base for steady returns, diverse income streams, and new blockchain-based products.
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