The Nasdaq-listed firm generated $27.9 million in complete income within the first quarter, down 13.6% from the fourth quarter of 2025, in accordance with its earnings report launched Thursday.
The income decline was primarily pushed by “decrease cloud providers income, decrease $ETH staking income, and decrease digital asset mining income,” the corporate mentioned.
Particularly, income from $ETH staking fell $29.4% to $2.3 million from the earlier quarter, reflecting decrease common ether costs and decrease natively staked balances. The corporate mentioned it repositioned roughly 70,000 $ETH into liquid staking to “keep treasury flexibility.”
Cloud providers income declined 13.1% quarter-on-quarter to $16.8 million, whereas co-location providers generated $4.8 million in income. Crypto mining income fell 32.9% from the earlier quarter to $3.7 million, which the corporate attributed to decreased $BTC manufacturing and weaker common $BTC costs throughout the interval.
In the meantime, Bit Digital posted a internet lack of $146.7 million for the primary quarter, in comparison with a $185.3 million internet loss in This autumn 2025. “Outcomes continued to be impacted by non-cash mark-to-market changes on digital belongings,” it mentioned.
As of the top of March, Bit Digital held roughly 154,444 $ETH, price about $327 million on the time. The typical acquisition worth of all its ether holdings stood at $3,045 at quarter-end.
Ethereum fell 29% throughout the quarter to $2,104 on March 31, and was buying and selling at $2,245 on Friday, in accordance with The Block’s $ETH worth web page.
Winding down bitcoin mining
In June 2025, Bit Digital mentioned it had begun transitioning from bitcoin mining to an Ethereum staking and treasury technique. The corporate was additionally among the many first crypto mining companies to start diversifying into high-performance computing (HPC), launching Bit Digital AI in 2023.
In Thursday’s earnings report, Bit Digital mentioned it continued to cut back publicity to bitcoin mining throughout the quarter.
“Mining stays money stream generative however is now not a strategic development precedence,” the corporate mentioned. “Capital allocation is predicted to proceed shifting towards Ethereum and infrastructure-related alternatives.”
Bit Digital CEO Sam Tabar mentioned the corporate has been “early” in figuring out main trade shifts.
“[We] consider we’re early once more on the convergence of AI and Ethereum,” Tabar added. “Bit Digital sits at each layers of this thesis: offering the compute infrastructure by way of WhiteFiber and the settlement rails by way of our Ethereum treasury and staking platform.”
WhiteFiber, an HPC subsidiary of Bit Digital AI, raised almost $160 million in an preliminary public providing in August 2025. On the finish of March, Bit Digital held roughly 27 million WhiteFiber shares and maintained a majority possession stake.
Bit Digital’s shares fell 3.7% in after-hours buying and selling on Thursday after closing the common session up 4.9%. The Nasdaq-listed inventory has gained 39% over the previous month, although it stays down 7% over the previous six months.
