Update
Bit Digital Returns to Profit with Revenue Decline
Bit Digital, a Nasdaq-listed company, reported a net income of $28.5 million for the third quarter of 2026, marking a turnaround from a net loss of $107.2 million in the previous quarter. Despite the profit, the company's revenue fell 11% to $27.1 million, down from $30.5 million in the same period of 2025. The decline in revenue is largely attributed to the winding down of Bitcoin mining operations. Bit Digital's AI and cloud infrastructure subsidiary, WhiteFiber, saw revenue grow significantly, with colocation revenue increasing 232% to $5.6 million. The company's Ethereum holdings and staking income also contributed to the profit, with ETH staking revenue at $1.0 million for the quarter, down from $2.9 million a year earlier but up 14% from the previous quarter. Bit Digital's cash reserves stood at $143.5 million as of September 30, 2026, with $138.5 million held by WhiteFiber.