Blockchain technology company BTC Digital Ltd. (“BTC Digital” or the “Company”) announced the launch of its Ethereum (ETH) staking services for its customers.
This new venture marks a significant expansion for BTC Digital beyond its core Bitcoin mining operations, extending into transaction validation on the Ethereum blockchain. The move aligns with the Company’s strategic objectives to diversify income sources by participating in the Ethereum’s validator rewards program.
Key features of BTC Digital’s ETH staking services include:
- Asset custody provided by Matrixport Technologies Ltd (“Matrixport”): BTC Digital’s collaboration with Matrixport aims to provide secure and reliable asset custody, offering ETH staking services clients peace of mind and safeguarding of their Ethereum holdings.
- Diversification and profitability: BTC Digital’s diversification into Ethereum staking aims to create additional revenue to the Company in addition to maintaining its commitment to the Bitcoin ecosystem.
- Enhanced returns: Through participation in Ethereum’s validator rewards program, BTC Digital hopes to increase its overall profitability and return on investment.
The launch of the ETH staking service represents a significant milestone for BTC Digital, expanding its horizons in the evolving cryptocurrency landscape.
Alan Peng, CEO of BTC Digital, stated, “We are thrilled to launch our ETH staking operations to validate transactions on the Ethereum blockchain. Our goal is to create new, predictable, and recurring digital rewards by entering another blue-chip digital asset ecosystem. It is worth noting that we will continue to invest and expand our mining operations. We believe that Bitcoin mining and ETH staking are complementary business areas that will enhance our overall profitability and returns. This is an exciting development for BTC Digital, and we expect such business strategies to increase value for all stakeholders in the long run.”
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