Another BTC mining firm moves to the Ethereum Reserve, Hailing Eth as ‘Digital Gold’
Bitcoin mining firm, btc digital (Btct)has switched $ 1 million of the company’s cash to Ether (Et)Which is it Called The new “digital gold.”
BTCT has shifted $ 1M to the Ethereum Reserve, chief executive officer Siguang Peng said in a press release, adding that Ethereum had “emerged as the on-chain USD foundation of the settlement and transfer of value.”
“By securing an initial $ 1 million ETH reserve today – and there are plans to measure that position – we are actively positioning ourselves for decentralized finances, stablecoin issuance, and asset tokenization,” Peng said.
BTCT plans to grow the reserve while upgrading the lifting capacity and US policies are strengthening. BTC Digital was once a bitcoin mining company. The Firm recently It is said that “the 20 MW large -scale cryptocurrency mining project in Georgia has reached a significant milestone.”
The company does not say that it still plans to mine Bitcoin, but said that it is “developing its origins in large -scale crypto mining, the BTCT is undergoing a strategic evolution from the” hash -rate provider “to” on -chain financial infrastructure participant, “in the press release.
BTC Digital is the second publicly exchanged by the Bitcoin Miner who turned to an ether ark. Earlier this month bit digital (Btbt) It moved Full Treasury from BTC to ETH As it moves to a staking approach. The move saw its stock jump up to 30%. This has since been corrected by nearly 20% of the collapse.
Meanwhile, BTCT stock closed Friday’s trading session of 13% higher.
Well -known public known wealth, which includes the wealth of decentralized autonomous organizations (Daos)Layer-2-2 networks, and companies exchanged by the public, which currently holds more than 1.34 million ETH, according to a public tracker.
