Bit Digital reported its third‑quarter earnings final evening and stated its income for Q3 2025 reached $30.5 million, based mostly on figures it launched in its new submitting.
The corporate stated the bounce from the $22.8 million it reported a 12 months earlier got here from robust exercise in its WhiteFiber unit and better staking revenue from Ethereum. The corporate additionally stated it’s pushing deeper into its plan to maneuver away from Bitcoin mining and construct a full Ethereum treasury construction.
The corporate stated the quarter additionally mirrored the primary full interval of WhiteFiber, which accomplished its IPO on August 8 and is now absolutely consolidated.
Bit Digital stated it owned 70.7% of the corporate on the finish of September, equal to 27,043,750 shares, valued at $734.8 million on the Nasdaq shut of $27.17 on September 30.
The corporate stated this pulled internet revenue as much as $146.7 million, equal to $0.47 per diluted share, in contrast with a internet lack of $38.8 million, or $(0.26) per diluted share, final 12 months.
Monitoring Bit Digital’s income modifications
Bit Digital stated income from crypto mining dropped to $7.4 million, down from $10.1 million a 12 months earlier, as a result of the Bitcoin community obtained more durable and the corporate lower its hash fee as a part of its exit plan.
The corporate stated cloud companies introduced in $18.0 million, up from $12.2 million final 12 months. It added that colocation companies, launched late 2024, generated $1.7 million, in contrast with nothing final 12 months.
The most important bounce got here from ETH staking. Bit Digital stated staking income reached $2.9 million, up from $0.4 million final 12 months, pushed by increased staking rewards and a stronger ETH value through the quarter.
The corporate stated adjusted EBITDA reached $166.8 million, in contrast with $(19.7) million final 12 months, helped by $146.0 million in good points from crypto holdings.
Bit Digital expands Ethereum push
The corporate stated it started its Ethereum‑solely technique in June and has been shopping for and staking ETH at pace since then. Bit Digital stated its holdings grew from 30,663 ETH on June 30 to 122,187 ETH on September 30, after which to 153,547 ETH by October 31, valued at $590.5 million at that date. The corporate stated it purchased 31,057 ETH in October utilizing proceeds from its $150 million convertible notes sale.
The notes carry an preliminary conversion value of $4.16 per share, which the corporate stated was an 8.2% premium to its estimated mNAV when the deal priced.
The corporate stated it earned 644.3 ETH from native staking and 52.9 ETH from liquid staking through the quarter. It added that 99,936 ETH had been staked as of September 30, with an annualized yield of three.05%, and that 132,480 ETH had been staked by October 31.
Bit Digital stated Bitcoin mining continues to shrink. The corporate mined 64.9 BTC in Q3, down from 165.4 BTC final 12 months. It stated its lively hash fee was 1.9 EH/s on September 30 with a 22 J/Th effectivity degree.
The mining arm posted a 32% gross margin. The corporate stated it expects little or no capital spending on this section going ahead, with proceeds from remaining exercise moved into ETH.
The CEO of the corporate, Sam Tabar, stated the quarter “additional solidified Bit Digital’s place on the intersection of what we imagine are the 2 strongest secular traits of our time: Ethereum and synthetic intelligence.”
He stated the corporate goals to construct one of many largest Ethereum treasuries within the public markets whereas maintaining its hyperlink to AI by way of its stake in WhiteFiber.
Tabar stated the corporate is concentrated on ETH density, stability sheet power, and lengthy‑time period worth by way of its technique. He added that volatility “is nothing new” and that the corporate plans to make use of market drops as openings.
