The Nasdaq-listed company’s first-quarter total revenue was $27.9 million, down 13.6% from the fourth quarter of 2025, according to its earnings report released Thursday.
The decrease in revenue was mainly due to “decrease in cloud service revenue; $ETH “Staking revenue decreased and digital asset mining revenue decreased,” the company said.
in particular, $ETH Staking decreased 29.4% from the previous quarter to $2.3 million, reflecting lower average Ether prices and lower native staking balances. The company announced that it has relocated approximately 70,000 people. $ETH It moved to liquid staking to “maintain Treasury flexibility.”
Cloud services revenue was $16.8 million, down 13.1% sequentially, and colocation services revenue was $4.8 million. Cryptocurrency mining revenue fell 32.9% sequentially to $3.7 million, which the company attributed to the decline $BTC Productivity and average decline $BTC This is the price during the period.
Meanwhile, Bit Digital posted a net loss of $146.7 million in the first quarter, compared to a net loss of $185.3 million in the fourth quarter of 2025. “The impact of non-cash mark-to-market adjustments for digital assets continued,” the company said.
As of the end of March, Bit Digital holds approximately 154,444 $ETHwas worth approximately $327 million at the time. At the end of the quarter, the average acquisition price of all Ether holdings was $3,045.
Ethereum had fallen 29% during the quarter to $2,104 on March 31, and was trading at $2,245 on Friday, according to The Block. $ETH Price page.
Bitcoin mining reduction
In June 2025, BitDigital announced that it had begun transitioning from Bitcoin mining to Ethereum staking and financial strategies. The company was also one of the first crypto mining companies to start diversifying into high-performance computing (HPC), launching Bit Digital AI in 2023.
In its earnings report on Thursday, BitDigital said it continued to reduce its exposure to Bitcoin mining during the quarter.
“While mining continues to generate cash flow, it is no longer a strategic growth priority,” the company said. “We expect capital allocation to continue to shift toward Ethereum and infrastructure-related opportunities.”
BitDigital CEO Sam Tabor said the company had identified major changes in the industry “early.”
“(We) believe that the convergence of AI and Ethereum is once again at an early stage,” Tabar added. “Bit Digital sits on both layers of this theory: providing the computing infrastructure through WhiteFiber and the payment rails through Ethereum’s treasury and staking platform.”
WhiteFiber, the HPC subsidiary of Bit Digital AI, raised approximately $160 million in an initial public offering in August 2025. At the end of March, Bit Digital held approximately 27 million WhiteFiber shares and maintained majority ownership.
Bit Digital shares fell 3.7% in after-hours trading on Thursday after closing the regular session up 4.9%. The Nasdaq-listed stock has risen 39% in the past month, but is still down 7% over the past six months.
