Bit Digital reported net income of $28.5 million for Q3 2026, with diluted earnings of $0.08 per share, above expectations for a $0.05 loss per share. Revenue fell 9.7% year over year to $27.1 million, missing analyst estimates by about 16%, primarily because the company wound down its bitcoin mining operations. Mining output declined to 28.4 BTC from 64.9 BTC. The company held 163,726 ETH, valued at $439.4 million at the end of September; the report also included details on staking revenue and its WhiteFiber unit.
Bit Digital reported a $28.5 million profit for Q3 2026, yet its market capitalization remains significantly lower than the value of its Ethereum holdings.
Read the full storyRevenue fell short of analysts’ estimates, while co-location hosting activity grew 232%, reflecting the company’s shift toward cloud infrastructure and away from mining.
Profit followed a $107.2 million loss in the second quarter, with gains on digital assets and other items contributing about $16.3 million to quarterly profit.
Mining income fell to $2 million, while hosting revenue rose 19% sequentially, supported by the initial contribution from the NC-1 facility.