Bit Digital 2025 Q3 Earnings Net Income Surges 478% Amid Ethereum Transition

Bit Digital (BTBT) reported Q3 2025 results that significantly exceeded expectations, with revenue rising 32.2% to $30.01 million and net income turning positive at $146.72 million. The company’s strategic shift toward Ethereum staking and disciplined capital allocation drove the turnaround, while guidance aligned with the strong performance.

Revenue

The total revenue of Bit Digital increased by 32.2% to $30.01 million in 2025 Q3, up from $22.71 million in 2024 Q3. Cloud services led the growth, contributing $18.03 million, followed by digital asset mining at $7.42 million. ETH staking revenue surged to $2.87 million, reflecting expanded holdings and higher yields. Colocation services and other revenue streams added $1.69 million and $454,588, respectively, completing the diversified revenue mix.

Earnings/Net Income

Bit Digital returned to profitability with EPS of $0.48 in 2025 Q3, reversing from a loss of $0.26 per share in 2024 Q3. The company achieved a 478.2% positive swing in net income, reaching $146.72 million compared to a $38.80 million loss in the prior year. This remarkable turnaround underscores the success of its Ethereum-centric strategy.

Price Action

The stock price of Bit Digital edged up 1.69% during the latest trading day but plummeted 23.25% during the most recent full trading week and 40.64% month-to-date.

Post-Earnings Price Action Review

Despite the strong earnings report, Bit Digital’s stock faced downward pressure in the days following the release. While the company’s strategic shift toward Ethereum staking and disciplined capital allocation generated optimism, investors appeared cautious about near-term volatility. The stock’s 23.25% weekly decline and 40.64% monthly drop suggest market skepticism amid broader macroeconomic uncertainties. However, the company’s robust liquidity and $620 million in total assets provide a foundation for long-term confidence, though short-term price swings remain a factor to monitor.

CEO Commentary

Samir Tabar highlighted Bit Digital’s transition to an Ethereum-centric model, with ETH holdings rising fivefold since June 2025. The CEO emphasized disciplined capital allocation through a $150M convertible notes offering to expand ETH holdings at a “compelling long-term entry point.” Staking revenue surged to $2.9M in Q3, driven by larger holdings and higher ETH prices. Tabar expressed confidence in Ethereum’s institutional adoption and WhiteFiber’s AI infrastructure, stating, “Ethereum and AI will define the future of digital infrastructure.”

Guidance

Bit Digital expects staking yields to remain stable at ~3% in the medium term, with external strategies targeting combined yields exceeding 10%. Bitcoin mining operations will wind down to 1.2 exahash by mid-2026, with fleet efficiency improving to ~19 joules/terahash. The company aims to maintain leverage below 20% of ETH holdings and normalize G&A expenses post-WhiteFiber transition. Forward-looking financials include $30.5M Q3 revenue, $0.47 EPS, and $146.7M net income, with $168M gain on ETH appreciation.

Additional News

Bit Digital’s $150M convertible notes offering, announced post-quarter, enabled the acquisition of 31,057 ETH, expanding its Ethereum holdings to 153,547 ETH by October 2025. The company also outlined plans to reduce Bitcoin mining operations to 1.2 exahash by mid-2026, reflecting a strategic pivot. Meanwhile, challenges in WhiteFiber’s lease deals and elevated G&A expenses underscored operational complexities.