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Bit Digital Q3 revenue misses estimates as Ethereum gains lift profit
Bit Digital reported third‑quarter revenue of $27.07 million, falling short of the analyst consensus estimate of $32.88 million by 17.7%. Revenue declined 11% year‑over‑year to $27.07 million, while gross profit was $15.2 million, a 56.1% margin. Net income attributable to shareholders was $28.5 million, or $0.08 per diluted share, reversing a net loss of $107.2 million in the prior quarter. Colocation services revenue surged 232% to $5.6 million, and cloud services revenue reached $18.1 million. Ethereum staking revenue fell to $1 million from $2.9 million, and Bitcoin mining revenue dropped to $2 million from $7.4 million as the company shifts focus toward Ethereum and AI infrastructure.