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.
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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