Bit Digital files for WhiteFiber IPO, pivots to pure ETH staking and treasury, exits BTC mining

Bit Digital, Inc

Wholly-owned HPC subsidiary WhiteFinc. confidentially submits S-1 for proposed IPO; size and price range not yet disclosed.
Company shifts to pure-play Ethereum staking and treasury; plans to sell or wind-down bitcoin mining operations.
As of March 31, 2025, holds 24,434 ETH (~$44.6M) and 417.6 BTC (~$34.5M); intends to convert BTC holdings into ETH over time.
Staking generated an average 3.2% APY on ETH in 2024; rewards to be reinvested or used for corporate purposes.
Management expects ETH holdings and staking income to become primary source of shareholder value.

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