Bitcoin mining firm, BTC Digital (BTCT), has moved $1 million of company cash into ether (ETH), which it called its new “digital gold.”

BTCT Moved $1M Into Ethereum Reserve, chief executive officer Siguang Peng said in a press release, adding that Ethereum has “emerged as the foundation of on-chain USD settlement and value transfer.”

«By securing an initial $1 million ETH reserve today—and with plans to scale that position—we are proactively positioning ourselves for decentralized finance, stablecoin issuance, and asset tokenization,” Peng said.

BTCT plans to grow the reserve as upgrades lift capacity and U.S. rules solidify. BTC Digital was previously a bitcoin mining company. The firm recently said that «its 20 MW large–scale cryptocurrency mining project in Georgia has reached a significant milestone.»

The company doesn’t state if it still plans to mine bitcoin, but said it is «building on its origins in large–scale crypto mining, BTCT is undergoing a strategic evolution from «hash–rate provider» to «on–chain financial infrastructure participant,» in the press release.

BTC Digital is the second publicly traded bitcoin miner turning to an ether treasury. Earlier this month Bit Digital (BTBT) shifted its entire treasury from BTC to ETH as it moved to a staking strategy. The move saw its stock jump up to 30%. It has since corrected in a nearly 20% drop.

Meanwhile, BTCT’s stock closed Friday’s trading session 13% higher.

Publicly-known ether treasuries, which include the treasuries of decentralized autonomous organizations (DAOs), Layer-2 networks, and publicly-traded firms, currently hold more than 1.34 million ETH, according to a public tracker.

12 minutes.

That’s how long it took for Pump.fun’s token offering to raise roughly $500 million from retail investors across various exchanges, including Bybit, Kraken, and KuCoin.

The sale priced 125 billion tokens at $0.004 apiece, implying a $4 billion fully diluted valuation for the Solana-based memecoin launcher’s new utility token.

For now, holders must wait to get their hands on the token they bought.

Pump.fun said the purchased tokens will land in wallets over the next 48–72 hours and will stay locked until distribution ends, blocking trades or transfers.

The team shared the official Solana contract address— pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn— and warned users to shun look-alike assets.

Read more: PUMP Lingers at 40% Premium Over ICO Price on Hyperliquid Ahead of Pump.fun Token Sale

Tether has announced it will wind down USDT on five lesser-used blockchains after usage on those networks wanes.

Redemptions and token minting on Omni Layer, Bitcoin Cash’s Simple Ledger Protocol, Kusama, EOS, and Algorand are set to stop on Sept. 1, 2025. Remaining tokens are to be frozen on the same day, according to a statement.

Together, the five networks carry only a sliver of USDT’s roughly $156 billion float. Tether says the usage of USDT on these networks, which it touts as playing a role in the firm’s early growth, has declined “significantly” over the past two years.

“Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement — all key components for driving the next wave of stablecoin adoption,” Tether CEO Paolo Ardoino said in the statement.

The firm will redirect its focus to Layer 2 networks such as the Lightning Network and to newer blockchains that promise faster settlement and richer developer tooling.

Tether has asked its customers holding USDT on the five networks to redeem their holdings as soon as possible or request issuance of their tokens on a supported blockchain. Token holders can migrate their tokens through blockchain bridges or exchanges.

The lion’s share of Tether’s $156 billion fiat is currently circulating on Tron and Ethereum, which together make up over 95% of the total. Solana is the only other network with more than 1% of USDT’s supply in circulation, according to RWA.xyz data.