Bit Digital, Inc. Announces First Quarter 2026 Financial Results
Bit Digital reported Q1 2026 revenue of $27.9 million, a 13.6% decline from the prior quarter, driven by lower cloud services, staking, and mining revenues. The company posted a net loss of $146.7 million, largely due to $121.1 million in non-cash mark-to-market losses on its Ethereum treasury, which is currently underwater with an average cost basis of $3,045 versus a market price of $2,104. Adjusted EBITDA was a loss of $9.4 million.
Key figures
- Eps
- 0
- Eps Beat
- 0
- Revenue
- 27900000
- Revenue Yoy
- 0
- Mining revenue
- 3700000
- Staking revenue
- 2300000
- Eth market value
- 327000000
- Convertible notes
- 334200000
- Colocation revenue
- 4800000
- Eth avg cost basis
- 3045
- Cash and equivalents
- 79500000
- Total digital assets
- 295000000
- Cloud services revenue
- 16800000
- Whitefiber shares held
- 27043750
- Whitefiber implied value
- 322100000
AI analysis
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