Bit Digital Posts $146M Q1 Loss as Ethereum Treasury Tops 155,000 ETH

"Bit Digital posted a $146.7M Q1 loss while expanding holdings to 155,444 ETH. Ethereum staking brought Bit Digital $2.3M as bitcoin mining revenue fell 33%. Bit Digital boosted AI and ETH focus, with Whitefiber valued near $322M by March 31. Bit Digital is accelerating its transformation from a bitcoin miner into an ethereum and AI-focused infrastructure company, even as volatility in digital asset markets continued to pressure earnings during the first quarter."

"The Nasdaq-listed firm reported a net loss of $146.7 million in its Q1 2026 financial results, improving from a $185.3 million loss in the previous quarter. The results were heavily influenced by non-cash mark-to-market adjustments tied to declines in crypto prices. The company held approximately 155,444 ether at quarter-end, with a market value of roughly $327 million based on ether's closing price of about $2,104 on March 31. Bit Digital said its average acquisition price across all ETH holdings stood at approximately $3,045 per token."

"Total revenue fell 13.6% quarter over quarter to $27.9 million, primarily due to weaker cloud services revenue, lower staking income, and reduced digital asset mining activity. Still, the company continued to emphasize its long-term ethereum strategy centered on treasury management and staking. Revenue generated from ETH staking totaled $2.3 million during the quarter, though that marked a 29% decline from the prior period as average ether prices weakened."

"As part of its treasury repositioning, Bit Digital moved roughly 70,000 ETH into liquid staking through LsETH to maintain flexibility while continuing to earn yield. About 60,677 ETH remained natively staked as of April 30. CEO Sam Tabar said the company views ethereum and AI infrastructure as interconnected parts of a broader digital financial system. Ethereum and AI infrastructure are components of a single integrated platform aligned with the future of the digital financial system."

Bit Digital reported a net loss of $146.7 million in Q1 2026, improving from a $185.3 million loss in the prior quarter. Results were driven largely by non-cash mark-to-market adjustments tied to declines in crypto prices. Total revenue fell 13.6% quarter over quarter to $27.9 million, reflecting weaker cloud services revenue, lower staking income, and reduced digital asset mining activity. The company held about 155,444 ETH at quarter-end, valued around $327 million, and reported an average ETH acquisition price near $3,045. Ethereum staking generated $2.3 million, down 29% from the prior period. Bit Digital moved roughly 70,000 ETH into liquid staking via LsETH to improve flexibility while continuing to earn yield, and kept about 60,677 ETH natively staked as of April 30. The company emphasized an integrated ethereum and AI infrastructure strategy focused on treasury management and staking.

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