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Bit Digital Partners with Figment to Advance Ethereum Staking Strategy

The NASDAQ-listed firm has staked over 86% of its ETH holdings and raised its convertible bond target to $135 million.

ETH

Summary

Bit Digital, a NASDAQ-listed Ethereum treasury company, announced a partnership with ETH staking provider Figment to enhance its Ethereum strategy by incorporating staking. The firm reported that over 86% of its ETH holdings are now staked. Additionally, Bit Digital increased its convertible bond fundraising goal from $100 million to $135 million, with the transaction expected to close by October 2, 2025.

Terms & Concepts
  • Ethereum Staking: The process of holding and locking up ETH to support network operations, such as block validation, in exchange for staking rewards.
  • Convertible Bond: A type of debt security that can be converted into a predetermined amount of the issuing company’s equity.
  • Proof of Stake (PoS): A blockchain consensus mechanism where validators are chosen based on the amount of cryptocurrency they stake, rather than mining power.