Bit Digital reported a 13.6% decrease in Q1 2026 revenue, totaling $27.9 million, primarily due to reduced earnings from Ethereum staking, cloud services, and mining operations. Ethereum staking revenue fell 29.4% to $2.3 million, impacted by a decline in ETH price and staking volume. Cloud service revenue decreased 13.1% to $16.8 million, while Bitcoin mining revenue dropped 32.9% to $3.7 million. The company's net loss widened to $146.7 million, driven by non-cash factors such as fair value changes in digital assets. As of March 31, Bit Digital held approximately 154,400 ETH, valued at $327 million, and converted 70,000 ETH into liquid staking to enhance asset flexibility. Bit Digital continues to shift focus from Bitcoin mining to Ethereum staking and digital asset strategies, with plans to prioritize Ethereum and infrastructure investments.
Bit Digital Q1 Revenue Drops 13.6% Amid Ethereum Staking Decline
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