Bit Digital shares surge 17.61% intraday after announcing exit from Bitcoin mining and strategic shift to AI, Ethereum infrastructure.

Bit Digital (BTBT) surged 17.6% intraday following its announcement to exit Bitcoin mining and pivot to AI computing and Ethereum infrastructure. The shift, highlighted by CEO Sam Tabar, positions the company to capitalize on active yield generation and operational leverage in AI and Ethereum, diverging from Bitcoin’s capital inefficiency. Concurrently, the firm reported holding 155,239.4 ETH ($380.2M value) with 89% staked at a 2.9% annualized yield, alongside a $527.6M stake in AI-focused subsidiary WhiteFiber, which it pledged to retain in 2026. These moves underscore a strategic realignment toward high-growth crypto and AI sectors, aligning with market enthusiasm for Ethereum’s infrastructure and AI-driven innovation.