Bit Digital Inc. announces a joint venture with Mega Matrix Corp. to provide digital asset staking technology

Bit Digital Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainability-focused digital asset maker headquartered in New York, today announced a joint venture with Mega Matrix Corp. (NYSE: MPU) (“Mega Matrix”) through a shareholder agreement (“Agreement”) with MarsProtocol Technologies Pte. Ltd., a joint venture (“Joint Venture”), to jointly develop proof-of-stake technology tools for digital assets using the “MarsProtocol” staking platform, an institutional grade non-custodial staking technology (“Joint Venture”). Through MarsProtocol, the joint venture will aim to provide non-custodial staking tools where users’ private keys are not stored in its database to keep their users’ digital assets secure. Under the agreement, Bit Digital will own a 40% stake in the joint venture.

Mega Matrix is ​​a holding company based in Palo Alto, California that is engaged in digital asset related business. The joint venture will be based in Singapore. Before offering any services, the Joint Company will carry out a regulatory check to ensure that its services are fully compliant with the laws of Singapore and any other country in which it seeks to do business. Services will not be offered to US residents. For more information please visit

Bit Digital launched Ethereum staking operations at the end of 2022. As of January 31, 2023, Bit Digital had 10,222 ETH and 2004 sETH-h, totaling around $19.4 million. At that time, a total of 2,164 ETH had been actively wagered using native or liquid staking protocols. Bit Digital intends to continue accumulating Ethereum and staking virtually all of its ETH positions over time.

Sam Tabar, director of strategy at Bit Digital, said: “We are excited to partner with Mega Matrix to explore the digital asset staking technology business together. Our intention with this joint venture is to provide world-class digital asset staking technology. We are bullish on the Ethereum network and believe our ETH staking strategy is the perfect complement to our core bitcoin mining business.”