Bit Digital Leads Crypto Stock Surge with Strategic Bitcoin Sales to Boost Ethereum Holdings

On July 8, US stock pre-market trading showed a notable uptick in crypto-related equities, reflecting increased investor confidence in blockchain assets. Bit Digital Inc (BTBT) led the gains with a 14.66% rise, driven by its strategic decision to divest Bitcoin holdings in favor of expanding its Ethereum portfolio. Bitmine Immersion (BMNR) followed with a 4.72% increase after successfully closing a $250 million private placement aimed at bolstering its Ethereum assets. SharpLink Gaming (SBET) also advanced 5.6%, supported by its substantial Ethereum reserve of 198,167 ETH. Other key players such as Circle (CRCL), Coinbase (COIN), and MicroStrategy (MSTR) experienced moderate gains of 1.56%, 0.41%, and 0.87%, respectively, underscoring a broader market trend towards diversified crypto exposure. These movements highlight a growing institutional pivot towards Ethereum-centric investments within the crypto equity sector.