Bit Digital Makes
Waves at MYRIAD Tides
Bit Digital Makes Waves at MYRIAD Tides
The Nasdaq-listed digital assets company joined Decrypt and Rug Radio at their
inaugural MYRIAD event in Singapore.
By Decrypt Staff
Sep 18, 2024 Sep 18, 2024
3 min read
Image: DASTAN
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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining firm and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum staking provider Bit Digital joined Rug Radio
and Decrypt at the MYRIAD Tides event in Singapore.
Hosted at KOMA Singapore on September 18, the event saw guests enjoying sushi,
free flowing drinks and incredible performances as Rug Radio and Decrypt
celebrated the launch of MYRIAD , a prediction market and engagement ecosystem
that aims to fundamentally change the way people engage with digital media.
Introducing Myriad Tides presented by @Auros_global !
Join us in Singapore on September 18th for an evening of sushi, free flowing
drinks and incredible performances!
Brought to you by Auros, Rug Radio, Myriad and Decrypt in partnership with
Arbitrum, Beatport, Aethir, IVC, Bit… pic.twitter.com/aH2RghDROE
— Rug Radio (@RugRadio) September 10, 2024
The 'MicroStrategy of Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum'
Earlier this year, Bit Digital used its profits from mining Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin to acquire
over $100 million in Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, with the goal of becoming the “MicroStrategy of
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum,” according to the firm’s CEO Sam Tabar.
“We are providing a unique solution to the capital markets that wish to have
exposure to Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum without buying the underlying asset, whilst at the same
time offering staking economics,” Tabar told Decrypt . “We are securitizing
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum for people who want to buy it in that format. To my knowledge, no one
else is doing this,” he said, adding that Bit Digital is “uniquely positioned”
to offer this service.
$BTBT August 2024 Production Update
ð¢ HPC/AI revenue: $4.3 million
ð¢ Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mined: 53.4
ð¢ Active hash rate: 2.43 EH/s
ð¢ BTC treasury holdings: 682.4 ($40.2m)
ð¢ ETH treasury holdings: 27,331.0 ($68.7m)
ð¢ Total liquidity: $216.5 million
ð Read the full report:… pic.twitter.com/P30vXq16Cy
— Bit Digital, Inc. NASDAQ:BTBT (@BitDigital_BTBT) September 5, 2024
As Bit Digital is a public company, its holdings are public information, Tabar
said, and with around 21,568 ETH actively staked in August, earning 56.6 ETH
in aggregated staking rewards, the firm appears to be making good on its
promise to duplicate the MicroStrategy playbook for Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum.
The approval of U.S. spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs earlier this year has been a “net
positive” for Bit Digital, he said, noting that it gets more people involved
in the asset class, educating them on Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s technology and smart contract
economy.
Spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs have also offered a crucial point of differentiation for
Bit Digital, he said, “showcasing to the capital markets that we are able to
stake ETH but ETFs cannot. If people want exposure to staking economics, they
buy our ticker.”
“We have staked a large portion of the ETH we have to give institutions and
TradFi users a way to get exposure to Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum staking,” Tabar said, noting
that while staking as a service isn’t permitted in the U.S., “A lot of
institutions are trying to get exposure to Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum.”
As a publicly listed company that can stake ETH, he said, Bit Digital
represents a leveraged play on Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum to institutional investors. “We’re
solving a big problem,” he added. “No one else is doing this, and it's
pretty gigantic.”
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