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BTBT fails to secure quorum for new share issuance to buy Ethereum, leaving company in limbo ahead of September 17
The mining firm, already among the largest ETH holders with over 100,000 tokens, will revisit its plan to expand treasury holdings
BTBT failed to achieve quorum in a shareholder vote to approve new share issuance for Ethereum purchases, forcing the company to schedule a follow-up meeting for September 17.
The mining company, which holds over 100,000 ETH in its treasury making it one of the largest institutional holders among public companies, sought shareholder approval to expand its Ethereum holdings through new share sales.
The failed vote comes at a time when Ethereum-focused digital asset trusts are trading below their net asset value, potentially creating opportunities for institutional buyers.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.