Business
Bit Digital, Inc. Announces Financial Results for the Third quarter of Fiscal Year 2025
NEW YORK, Nov. 14, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (the "Company"), a publicly traded digital asset company focused on Ethereum-native
About this update from Bit Digital, Inc.
[{"type":"text","content":"\n NEW YORK, Nov. 14, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (the \"Company\"), a publicly traded digital asset company focused on Ethereum-native treasury and staking strategies headquartered in New York City, today announced its financial results for the third quarter of 2025. The Company will host a conference call on November 14, 2025 at 9:00 AM ET to discuss results (click here for registration information).\n \n Financial Highlights for the Third Quarter of 2025\n \n \n Total revenue for the third quarter of 2025 was $30.5 million, a 33% increase compared to $22.8 million in the third quarter of 2024. The increase was primarily driven by growth in WhiteFiber business lines and from increased revenue from ETH staking.\n Revenue from digital asset mining was $7.4 million, a 27% decrease compared to $10.1 million in the prior year's quarter. The decline was driven by increased network difficulty and a reduction in active hash rate. The Company is in the process of winding down this business line.\n Revenue from cloud services was $18.0 million, a 48% increase compared to $12.2 million in the prior year's quarter.\n Revenue from colocation services was $1.7 million, compared to none in the prior-year quarter as the business was launched in the fourth quarter 2024.\n Revenue from ETH staking was $2.9 million, a 542% increase compared to $0.4 million in the third quarter of 2024. The increase was driven by an increase in staking rewards and a higher realized ETH price during the quarter.\n Results for the third quarter of 2025 include the consolidated financial performance of WhiteFiber Inc. (Nasdaq: WYFI), of which Bit Digital held approximately 70.7% of the outstanding shares as of September 30, 2025. WhiteFiber completed its initial public offering on August 8, 2025, and its results are fully consolidated within Bit Digital's financial statements. As of September 30, 2025, Bit Digital's ownership totaled 27,043,750 shares, valued at approximately $734.8 million based on the Nasdaq closing price of $27.17 per share on that date.\n Net income for the third quarter of 2025 was $146.7 million, or $0.47 per diluted share, compared to a net loss of $38.8 million, or $(0.26) per diluted share, in the prior-year quarter.\n Adjusted EBITDA for the third quarter of 2025 was $166.8 million, compared to $(19.7) million in ...