The crypto mining firm will additionally sell its own stock to purchase more ETH for its treasury.
Shares in Bit Digital fell by nearly 4% on Wednesday after the crypto mining firm announced it would wind down or sell its Bitcoin mining infrastructure and use the proceeds to buy more Ether.
In a statement, the company said it would gradually convert its entire Bitcoin (BTC) stack to Ether (ETH), but it did not specify a deadline for completing the move.
Cointelegraph reached out to Bit Digital, but did not receive a response by the time of publication.
