Bit Digital posts $146.7m loss as company cuts bitcoin mining exposure

cryptonews05-15

Bit Digital has reported lower first-quarter revenue and another steep quarterly loss as the Nasdaq-listed company continues redirecting capital from bitcoin mining into Ethereum staking and treasury ...

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Bit Digital stated that bitcoin mining still generates cash flow but no longer represents its primary expansion strategy, ad","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BITI":"1倍做空比特币期货ETF-Proshares","BTFX":"比特币期货ETF-CoinShares","GBTC":"比特币ETF-Grayscale","BRRR":"比特币ETF-CoinShares","BTGD":"STKD Bitcoin & Gold ETF","ETHV":"以太坊ETF-VanEck","HODL":"比特币ETF-VanEck","SBIT":"2倍做空比特币期货ETF-Proshares","ETHT":"ProShares Ultra Ether ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","BTCI":"NEOS Bitcoin High Income ETF","BETE":"等权重比特币&以太币期货ETF-ProShares","ETHW":"以太坊ETF-Bitwise","FETH":"以太币ETF-Fidelity","BTCL":"T-REX 2X LONG BITCOIN DAILY TARGET ETF","BETH":"比特币&以太币期货ETF-ProShares","BITQ":"Bitwise Crypto Industry Innovators ETF","BTCO":"比特币ETF-Invesco Galaxy","YETH":"Roundhill Ether Covered Call Strategy ETF","NGHT":"Nicholas Bitcoin and Treasuries AfterDark ETF","ETHA":"以太坊ETF-iShares","EETH":"以太币期货ETF-ProShares","ARKB":"比特币ETF-21Shares","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","BTRN":"比特币期货ETF-Global X","BITU":"2倍做多比特币期货ETF-Proshares","FBTC":"比特币ETF-Fidelity","YBIT":"YieldMax Bitcoin Option Income ETF","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","MSBT":"Morgan Stanley Bitcoin Trust ETP","BKCH":"AdvisorShares Sabretooth ETF","ETHD":"ProShares UltraShort Ether ETF","BITW":"Bitwise 10 Crypto Index ETF","EZET":"以太坊ETF-Franklin","HECO":"SPDR Galaxy Hedged Digital Asset Ecosystem ETF","WGMI":"比特币矿商ETF-CoinShares","MAXI":"比特币期货ETF-Simplify","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","ETHE":"最大以太坊ETF-Grayscale","BITX":"2倍比特币期货ETF-Volatility Shares","CBTJ":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - January","MNRS":"GRAYSCALE BITCOIN MINERS ETF","DAPP":"VanEck Digital Transformation ETF","YBTC":"比特币看涨期权ETF-Roundhill","BITB":"比特币ETF-Bitwise","BITC":"Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF","BTF":"比特币&以太币期货ETF-CoinShares","STCE":"Schwab Crypto Thematic ETF"},"translate_title":"Bit Digital削减比特币矿业业务，亏损1.467亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BEGS":1.5,"ETHV":0.9,"STCE":1.5,"DAPP":1.5,"ARKY":1.5,"ETHD":0.9,"YBTC":1.5,"BETH":1.5,"MAXI":1.5,"ARKB":1.5,"FBTC":1.5,"BITW":1.5,"BITB":1.5,"BTGD":1.5,"BTCO":1.5,"YBIT":1.5,"ETHE":0.9,"BITI":1.5,"SBIT":1.5,"ETHA":0.9,"GBTC":1.5,"HODL":1.5,"BITX":1.5,"BTFX":1.5,"LFGY":1.5,"EZET":0.9,"BTCZ":1.5,"MSBT":1.5,"ETHW":0.9,"BKCH":1.5,"CBTJ":1.5,"ETHT":0.9,"YETH":0.9,"MNRS":1.5,"BITC":1.5,"BETE":1.5,"BTF":1.5,"BRRR":1.5,"BTCL":1.5,"EETH":0.9,"BTRN":1.5,"BITU":1.5,"FETH":0.9,"MBTmain":1.5,"NGHT":1.5,"HECO":1.5,"GDLC":1.5,"BTCI":1.5,"WGMI":1.5,"BITQ":1.5},"content_text":"Bit Digital has reported lower first-quarter revenue and another steep quarterly loss as the Nasdaq-listed company continues redirecting capital from bitcoin mining into Ethereum staking and treasury operations.\n\n\nSummary\n\n\n\nBit Digital reported a $146.7 million net loss as revenue from ETH staking, cloud services, and crypto mining declined in Q1.\nThe company held more than 154,000 ETH at the end of March while continuing to reduce exposure to bitcoin mining.\nBit Digital said future capital deployment will continue focusing on Ethereum operations and infrastructure businesses.\n\n\n\nAccording to Bit Digital’s earnings report released Thursday, first-quarter revenue came in at $27.9 million, down 13.6% from the final quarter of 2025, after weaker results across its cloud services, ETH staking, and crypto mining businesses.\nCloud services remained the company’s largest revenue segment at $16.8 million, though the figure slipped 13.1% quarter-on-quarter. Co-location services added another $4.8 million, while crypto mining revenue dropped 32.9% to $3.7 million after lower bitcoin production and softer BTC prices weighed on returns during the period.\nEthereum staking income also weakened. Bit Digital said staking revenue fell 29.4% from the previous quarter to $2.3 million as average ether prices declined and the amount of natively staked ETH decreased. During the quarter, the company moved nearly 70,000 ETH into liquid staking arrangements to preserve treasury flexibility.\nAt the same time, the company posted a net loss of $146.7 million for the quarter, improving from the $185.3 million loss recorded in Q4 2025. Bit Digital said non-cash mark-to-market adjustments tied to digital assets continued affecting earnings results.\nEthereum treasury strategy expands\nBy the end of March, Bit Digital held approximately 154,444 ETH, valued at roughly $327 million at the time, with an average acquisition cost of $3,045 per token, according to the earnings filing.\nThe latest treasury figure comes months after Bit Digital disclosed in November 2025 that its Ethereum holdings had climbed to roughly 153,547 ETH valued at around $590.5 million at the end of October. In that earlier update, the company said it acquired more than 31,000 ETH during the month while staking nearly 86% of its holdings to generate yield.\nBack in June 2025, Bit Digital publicly confirmed it had started moving away from bitcoin mining in favor of an Ethereum-focused treasury and staking model. Chief Executive Officer Sam Tabar previously described Ethereum as a foundational settlement layer tied to tokenized real-world assets and stablecoin activity, contrasting it with bitcoin’s role primarily as a store of value.\nThursday’s report showed the company continuing along that path. Bit Digital stated that bitcoin mining still generates cash flow but no longer represents its primary expansion strategy, adding that future capital deployment would continue leaning toward Ethereum and infrastructure-related businesses.\nSpeaking in the earnings release, Tabar said the company believes it is positioned early around the intersection of artificial intelligence infrastructure and Ethereum-based financial rails. He pointed to WhiteFiber, Bit Digital AI’s high-performance computing subsidiary, alongside the company’s Ethereum treasury and staking operations as part of that thesis.\nWhiteFiber previously raised nearly $160 million through an initial public offering in August 2025. As of March 31, Bit Digital held about 27 million WhiteFiber shares and retained majority ownership in the business.\nMeanwhile, Ethereum prices remained under pressure during the quarter. Ether fell roughly 29% to $2,104 by March 31 before trading near $2,245 on Friday, according to pricing data cited in the report.\nInvestors reacted cautiously after the earnings release. Bit Digital shares declined 3.7% in after-hours trading on Thursday after gaining 4.9% during the regular session. Despite the pullback, the stock has still advanced 39% over the past month, although it remains down 7% across the last six months.\n\n\n\n\n\n                Read more:\n            \n\n                Australia’s CGT plan threatens crypto holders’ tax edge","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2635702364","isCrawlerRequest":true}