Bit Digital Inc. (NASDAQ: $BTBT) added another $20 million of Ethereum (CRYPTO: $ETH) to its balance sheet, extending a treasury strategy that keeps the Nasdaq-listed company tied closely to one of crypto’s weakest large-cap trades this year.

The company said it acquired 8,568 ETH on May 11 at an average price of $2,334.25 per token. The purchase lifted Bit Digital’s total holdings to about 158,461.75 ETH, keeping it among the largest public corporate holders of Ethereum and further deepening the company’s presence in the digital asset treasury category.

CoinGecko data cited in the report shows the new total would put Bit Digital ahead of Coinbase Global in public-company ETH holdings. That ranking adds a marketable label…