BTCT announces strategic transformation, fully betting on Ethereum and abandoning Bitcoin.

BTC Digital Ltd. (BTCT) announced a major strategic transformation plan, shifting its focus to Ethereum and no longer holding Bitcoin assets. As part of this transformation, the blockchain technology company completed a $6 million financing and increased its Ethereum holdings by $1 million.

The company's goal is to convert all existing and future Bitcoin assets into Ethereum to establish a long-term efficient on-chain asset pool. BTCT plans to increase its total Ethereum reserves to the scale of tens of millions of dollars by the end of the year.

In addition to increasing Ethereum Holdings, BTCT also plans to start participating in Ethereum staking to earn network rewards and reinvest those rewards to promote the growth of reserves. The company also intends to engage in decentralized finance protocols, real-world asset projects, and Ethereum stablecoin projects.

This strategic transformation marks BTCT's shift from a mining-focused company to a digital asset operator dominated by asset production. The company plans to leverage Ether to develop multiple infrastructure projects, further expanding its influence in the Blockchain field.

This action reflects the dynamic changes in the cryptocurrency market and the views of enterprises on the potential of different digital assets. The decision of TCT may trigger further discussion and analysis within the industry about the relative advantages of Bitcoin and Ethereum.