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BitDigital (NASDAQ: BTBT) is breaking new ground in finance, becoming the first publicly traded Ethereum DAT to deploy unsecured leverage. The move is an evolution in how public blockchain companies raise capital, blending traditional debt instruments with decentralized infrastructure models.

Why This Move Redefines Capital Formation For Ethereum DATs

In an X post, BitDigital_BTBT revealed that the company has made history as the first publicly traded Ethereum Digital Asset Treasury (DAT) to deploy unsecured leverage through a convertible notes offering, marking a new milestone in blockchain-based corporate finance. The latest move by the financial behemoth will be beneficial to the company shareholders.

However, this initiative will enhance capital efficiency for shareholders, without immediate dilution notes due in October 2030. The proceeds will be used to acquire ETH, expand BitDigital’s treasury, and increase institutional staking capacity.

This strategic financing deepens BitDigital’s exposure to ETH, while positioning the asset as a programmable treasury instrument capable of generating institution-grade staking yield. By leveraging traditional debt structures within a decentralized framework, BitDigital reinforces its leadership in ETH-native treasury management and staking strategies. The move also signals ETH’s advanced role in institutional finance, bridging the gap between Web3 infrastructure and legacy capital markets.

Amid the growing exposure to Ethereum, multiple potential projects are being consistently launched on the leading chain. Kriptoloji, an ambassador at Irys_xyz, points out that their restaking design project’s focus isn’t on flashy incentive yields, but on building genuine utility and layering right on top of ETH’s ecosystem. Kriptoloji noted that most projects in DeFi tend to chase the same hype cycles and loops, but Ekoxofficial is building something different with this move. Instead of creating another yield, it aims to make network participation more seamless, efficient, and sustainable.

Meanwhile, the early indicators suggest that a well-received testnet, growing momentum from the Arichain collaboration, and a pipeline of upcoming integrations are starting to establish the foundation for credibility as a long-term infrastructure play rather than a fleeting experiment. “This is not financial advice, but the way they are structuring it’s definitely something worth paying attention to.” Kriptoloji mentioned.

Institutional Adoption Strengthens ETH Long-Term Outlook

Ethereum is still very much recognized at the institutional level. Goldman Sachs’ latest report reveals a powerful trend unfolding as institutional investors are deepening their involvement with ETH, with over $3.5 trillion in assets under management (AUM) now linked to the ecosystem.

This level of exposure highlights the ETH transformation from a speculative blockchain into a critical layer of institutional-grade infrastructure. According to Crypto Patel, Elite KOL CoinMarketCap and Binance, this institutional pivot is one of the strongest bullish signals for ETH’s future.

ETH trading at $4,490 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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As legal cannabis has expanded around the United States for both recreational and medical use, companies have amassed troves of data about customers and their transactions. People who have applied for medical marijuana cards have had to share particularly personal health data to qualify. For some patients in Ohio who use medical weed, a recent data exposure could impact their sensitive information.

Security researcher Jeremiah Fowler found a publicly accessible database in mid-July that appeared to contain medical records, mental health evaluations, physician reports, and images of IDs like driver’s licenses for people seeking medical cannabis cards. The 323-GB trove stored close to a million records, including Social Security numbers, email addresses, physical addresses, dates of birth, and medical data—all organized by name.

Based on information that seemed to describe specific employees and business partners, Fowler suspected that the data belonged to the Ohio-based company Ohio Medical Alliance LLC, which goes by the name Ohio Marijuana Card. Fowler contacted the company on July 14; when he checked the database the next day, it had been secured and was no longer publicly accessible online. Fowler did not receive a response about his submission.

Ohio Medical Alliance did not answer WIRED’s questions about Fowler’s findings. At one point, though, the company’s president, Cassandra Brooks, wrote in an email: “I need time to investigate this alleged incident. We take data security very seriously and are looking into this matter.”

“There were physicians’ reports that would say what the underlying problem was—whether it was anxiety, cancer, HIV, or something else. In some cases, the applicants would submit their own medical records as proof” of their qualifying condition, Fowler tells WIRED. “I saw identification documents from lots of states, from everywhere. And I even saw offender release cards, which are basically IDs for people who just got out of prison that they submitted as proof of identity to get a medical marijuana card.”

Fowler says that most of the files in the database were image formats like PDFs, JPGs, and PNGs. One CSV plaintext document called “staff comments” appeared to be an export of internal communications, appointment histories, notes about clients, and application status. That file also contained more then 200,000 email addresses of Ohio Medical Alliance employees, business associates, and customers.

Databases that are misconfigured and have inadvertently been left publicly exposed on the open internet are a common problem online in spite of efforts to raise awareness about the mistake and its privacy implications.

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BitDigital Becomes First Public Ethereum DAT To Deploy Unsecured Leverage – Details

Why This Move Redefines Capital Formation For Ethereum DATs

Institutional Adoption Strengthens ETH Long-Term Outlook

Highly Sensitive Medical Cannabis Patient Data Exposed by Unsecured Database