Bitcoin -mining company, BTC Digital (BTCT)has moved 1 million dollars of corporate quotas to ether (Eth)As it called his new “Digital Gold.”
BTCT moved $ 1M to Ethereum Reserve, CEO Siguang Peng said in a press release, adding that Ethereum has “emerged as the basis of on-chain USD settlement and value transfer.”
“By securing an initial ETH reserve of $ 1 million today – and with plans to scale this position – we proactively place ourselves for decentralized funding, stableecoin issuing and active docking of active,” money said.
BTCT is planning to grow the reserve as upgrading lifting capacity and US rules is being stimulated. BTC Digital was previously a Bitcoin mining company. The company recently said that “its 20 MW large cryptocurrency -mining project in Georgia has reached a significant milestone.”
The company does not indicate whether it is still planning to my Bitcoin, but said it “is based on its origin in large crypto mining, BTCT undergoes a strategic development from” Hash -Rate Provider “to” On -Chain Financial Infrastructure participates, “in the press release.
BTC Digital is the second listed Bitcoin mines turning to an Ether Treasury. Earlier this month Bit Digital (BTBT) moved the entire Treasury from BTC to ETH as it moved to a stack strategy. The move saw its stock jump up to 30%. It has since corrected in a decrease of almost 20%.
Meanwhile, BTCT’s share closed Friday’s trade session 13% higher.
Publicly known Etherkat boxes that include treasuries for decentralized autonomous organizations (Daos)Layer-2 networks and publicly traded companies currently have more than 1.34 million ETH, according to a public tracker.
