Bit Digital reported its third‑quarter earnings final night time and mentioned its income for Q3 2025 reached $30.5 million, based mostly on figures it launched in its new submitting.
The corporate mentioned the soar from the $22.8 million it reported a yr earlier got here from robust exercise in its WhiteFiber unit and better staking earnings from Ethereum. The corporate additionally mentioned it’s pushing deeper into its plan to maneuver away from Bitcoin mining and construct a full Ethereum treasury construction.
The corporate mentioned the quarter additionally mirrored the primary full interval of WhiteFiber, which accomplished its IPO on August 8 and is now absolutely consolidated.
Bit Digital mentioned it owned 70.7% of the corporate on the finish of September, equal to 27,043,750 shares, valued at $734.8 million on the Nasdaq shut of $27.17 on September 30.
The corporate mentioned this pulled internet earnings as much as $146.7 million, equal to $0.47 per diluted share, in contrast with a internet lack of $38.8 million, or $(0.26) per diluted share, final yr.
Monitoring Bit Digital’s income adjustments
Bit Digital mentioned income from crypto mining dropped to $7.4 million, down from $10.1 million a yr earlier, as a result of the Bitcoin community received more durable and the corporate reduce its hash charge as a part of its exit plan.
The corporate mentioned cloud companies introduced in $18.0 million, up from $12.2 million final yr. It added that colocation companies, launched late 2024, generated $1.7 million, in contrast with nothing final yr.
The most important soar got here from ETH staking. Bit Digital mentioned staking income reached $2.9 million, up from $0.4 million final yr, pushed by increased staking rewards and a stronger ETH value through the quarter.
The corporate mentioned adjusted EBITDA reached $166.8 million, in contrast with $(19.7) million final yr, helped by $146.0 million in positive aspects from crypto holdings.
Bit Digital expands Ethereum push
The corporate mentioned it started its Ethereum‑solely technique in June and has been shopping for and staking ETH at velocity since then. Bit Digital mentioned its holdings grew from 30,663 ETH on June 30 to 122,187 ETH on September 30, after which to 153,547 ETH by October 31, valued at $590.5 million at that date. The corporate mentioned it purchased 31,057 ETH in October utilizing proceeds from its $150 million convertible notes sale.
The notes carry an preliminary conversion value of $4.16 per share, which the corporate mentioned was an 8.2% premium to its estimated mNAV when the deal priced.
The corporate mentioned it earned 644.3 ETH from native staking and 52.9 ETH from liquid staking through the quarter. It added that 99,936 ETH had been staked as of September 30, with an annualized yield of three.05%, and that 132,480 ETH had been staked by October 31.
Bit Digital mentioned Bitcoin mining continues to shrink. The corporate mined 64.9 BTC in Q3, down from 165.4 BTC final yr. It mentioned its lively hash charge was 1.9 EH/s on September 30 with a 22 J/Th effectivity degree.
The mining arm posted a 32% gross margin. The corporate mentioned it expects little or no capital spending on this phase going ahead, with proceeds from remaining exercise moved into ETH.
The CEO of the corporate, Sam Tabar, mentioned the quarter “additional solidified Bit Digital’s place on the intersection of what we consider are the 2 strongest secular tendencies of our time: Ethereum and synthetic intelligence.”
He mentioned the corporate goals to construct one of many largest Ethereum treasuries within the public markets whereas protecting its hyperlink to AI by means of its stake in WhiteFiber.
Tabar mentioned the corporate is targeted on ETH density, stability sheet energy, and lengthy‑time period worth by means of its technique. He added that volatility “is nothing new” and that the corporate plans to make use of market drops as openings.
