Bit Digital, Inc. (BTBT) Ethereum Holdings Grow to $532.5 Million

Bit Digital, Inc. (NASDAQ:BTBT) is one of the best cryptocurrency stocks to buy according to Wall Street analysts. On September 4, the company confirmed that it held approximately 121,252 Ethereum, valued at $532.5 million as of the end of August.

The company had staked 105,031 Ethereum coins, approximately 86.6% of its total holdings, thereby generating 249 ETH in rewards. Consequently, the company is on track to generate an annualized yield of 2.94%.

The total ethereum holdings include 15,084 ETH coins and ETH equivalents held in externally managed funds. It also owns 5,094 ETH presented on an as-converted basis from LsETH.

Bit Digital, Inc. (NASDAQ:BTBT) engages in digital asset production by mining Bitcoin, staking Ethereum to earn yield and grow its treasury, and providing high-performance computing (HPC) infrastructure for artificial intelligence (AI) applications and other uses.

While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.