- Bit Digital acquired $20 million in Ether this month, boosting its holdings to 158,462 ETH and elevating it to the fourth-largest public corporate holder of Ethereum.
- Standard Chartered analysts maintain a bullish long-term outlook, setting a 2026 ETH price target of $4,000 and a 2030 target of $40,000, citing strong network fundamentals.
- The purchase coincides with Bitmine Immersion Technologies announcing its largest annual Ethereum purchase of 111,942 ETH, solidifying its position as the top public treasury holder.
- Despite continued institutional accumulation, ethereum’s price remains under pressure, trading down approximately 60% from its August 2025 all-time high.
Bit Digital announced on Thursday it purchased $20 million worth of Ether earlier this month, significantly increasing its corporate treasury holdings. The Nasdaq-listed company acquired 8,568 ETH on May 11 at an average price of $2,334.25 per token.
CEO Sam Tabar stated this strategic move reduced their average acquisition cost and aims to grow net asset value. Consequently, the company’s total Ether holdings now stand at roughly 158,462 ETH.
Based on CoinGecko data, this purchase pushes Bit Digital above Coinbase Global to become the fourth-largest public corporate holder of Ethereum. The company’s stock has risen roughly 35.5% over the past month, Yahoo Finance data shows.
Meanwhile, analysts at Standard Chartered argue Ethereum’s network activity remains strong despite its market performance. The bank’s digital assets research head, Geoff Kendrick, reiterated price targets of $4,000 by end-2026 and $40,000 by 2030.
This optimism aligns with other corporate accumulation, as Bitmine Immersion Technologies recently purchased 111,942 Ether. Chairman Tom Lee suggested Ethereum could benefit from a crypto “supercycle” driven by tokenization and AI.
However, this contrasts with views from Bankless co-founder David Hoffman, who sold his ETH, believing the “ETH is Money” thesis has played out. Ethereum was trading around $2,013 at the time of writing, down nearly 60% from its August 2025 high, according to CoinGecko.
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