Calling Ethereum the new "digital gold" and shifting to an ETH reserve asset strategy - the second company to list as a BTC mining firm | CoinDesk JAPAN

• The Bitcoin mining company BTC Digital has invested 1 million dollars in Ethereum, positioning Ethereum as the new "digital gold."
• This initiative is part of the company's strategy towards DeFi, stablecoin issuance, and asset tokenization.
• According to publicly available information, the Ethereum held as reserve assets currently exceeds 1.34 million ETH.

The Bitcoin (BTC) mining company BTC Digital converted $1 million (approximately 1.47 billion yen) into Ethereum (ETH). The company refers to Ethereum as the new "digital gold."

In the release, CEO Siguang Peng stated that Ethereum is "emerging as the foundation for on-chain dollar payments and value transfer."

"Today, by securing $1 million worth of Ethereum as a preparatory asset (with plans to expand that position in the future), we are actively positioning ourselves for DeFi (Decentralized Finance), the issuance of stablecoins, and the tokenization of assets."

BTCT plans to expand its Ethereum reserves in response to improvements in scalability due to network upgrades and the clarification of regulations in the United States.

BTCT is known as a Bitcoin mining company. The company recently announced that "the 20-megawatt scale cryptocurrency mining project in Georgia has reached an important milestone."

The company has not made a clear statement regarding whether it will continue Bitcoin mining in the future, but the release states that "based on its foundation as a large-scale cryptocurrency mining operation, BTCT is undergoing a strategic evolution from 'hash rate provider' to 'participant in on-chain financial infrastructure.'"

The listed Bitcoin mining company that has shifted to an Ethereum preparation fund strategy is the second company to do so. Earlier this month, Bit Digital moved all of its Bitcoin reserves to Ethereum and transitioned to a staking strategy. Following this announcement, the company's stock price temporarily rose by 30%, but has since fallen by about 20%.

The stock price of BTC Digital rose by 13% on the 11th.

Ethereum held as reserve assets—Ethereum held by DAOs (Decentralized Autonomous Organizations), Layer 2 networks, and listed companies—currently exceeds 1.34 million ETH, approximately 3.9 billion dollars (around 570 billion yen), according to data sites.

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