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Bit Digital posts $28.5 million Q3 profit despite missing revenue forecasts

Bit Digital returned to profitability in the third quarter with $28.5 million in net income, but its shares fell in pre-market trading after revenue missed analyst expectations.

A smartphone displaying the Bit Digital logo and NASDAQ ticker BTBT in front of an out-of-focus stock price chart.
Image: @analyticsinme

Bit Digital swung back to profitability in the third quarter, posting $28.5 million in net income attributable to shareholders, according to reports from The Block and Crypto Briefing. The financial turnaround was bolstered by digital asset gains and data-center growth as the company continues shifting its focus from Bitcoin mining toward Ethereum and AI infrastructure.[5][6][1][4]

Despite the net profit, topline revenue declined 11% year over year to $27.1 million, according to The Block. Coin Telegraph reported that the approximately $27 million in third-quarter revenue came in 16% below consensus analyst estimates, creating a shortfall of more than $5 million. While Bit Digital saw its AI colocation business grow, Ethereum-native staking revenue declined year over year.[5][3]

The revenue disappointment pressured the company's stock in pre-market trading, with Coin Telegraph reporting a 5% drop and Crypto Briefing recording a 9% slide. Nevertheless, higher cryptocurrency values helped lift Bit Digital's Ethereum treasury to $439.4 million during the quarter, according to Analytics Insight.[3][2][1]

Key facts

  • Bit Digital generated $28.5 million in Q3 net income attributable to shareholders, returning to profitability.
  • Third-quarter revenue dropped 11% year over year to $27.1 million.
  • Bit Digital's revenue missed analyst consensus expectations by 16%, a gap exceeding $5 million.
  • Bit Digital shares fell in pre-market trading following the results, with Coin Telegraph reporting a 5% drop and Crypto Briefing reporting a 9% drop.
  • The company's Ethereum treasury reached $439.4 million as digital asset gains and data-center growth supported quarterly earnings.
  • Ethereum-native staking revenue fell year over year even as Bit Digital's AI colocation business expanded.

Sources ยท 4 sources

  1. AI

    Analytics Insight@analyticsinmePost on X ยท

    ๐๐ข๐ญ ๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅโ€™๐ฌ ๐๐Ÿ‘ ๐„๐š๐ซ๐ง๐ข๐ง๐ ๐ฌ ๐‘๐ž๐›๐จ๐ฎ๐ง๐ ๐จ๐ง ๐‚๐ซ๐ฒ๐ฉ๐ญ๐จ ๐†๐š๐ข๐ง๐ฌ ๐š๐ง๐ ๐ƒ๐š๐ญ๐š-๐‚๐ž๐ง๐ญ๐ž๐ซ ๐†๐ซ๐จ๐ฐ๐ญ๐ก Bit Digital swung to a Q3 profit as its Ethereum treasury climbed to USD 439.4 million. Higher crypto values and data-center growth drove the rebound. #BitDigital #BTBT #Ethereum #Q3Earnings #CryptoTreasury #AI #AINews #AnalyticsInsight #AnalyticsInsightMagazine ย  Read More ๐Ÿ‘‡ https://t.co/HBZB2kPo0c

    Open source
  2. CB

    Crypto BriefingArticle ยท

    Bit Digital stock falls 9% in pre-market after Q3 revenue miss Bit Digital's revenue miss highlights the volatility of relying on digital asset gains, underscoring the need for diversified income streams. The post Bit Digital stock falls 9% in pre-market after Q3 revenue miss appeared first on Crypto Briefing .

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  3. CT

    Coin TelegraphArticle ยท

    Bit Digital stock falls 5% in pre-market after Q3 revenue miss Bit Digitalโ€™s $27 million third-quarter revenue came in 16% below analyst consensus estimates, marking an over $5 million shortfall.

    Open source
  4. CB

    Crypto BriefingArticle ยท

    Bit Digital misses Q3 revenue estimates as Ethereum gains lift profit Bit Digital's shift from Bitcoin mining to Ethereum and AI infrastructure may reshape its growth trajectory and investor appeal. The post Bit Digital misses Q3 revenue estimates as Ethereum gains lift profit appeared first on Crypto Briefing .

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  5. TB

    The Block@TheBlockCoPost on X ยท

    THE BLOCK: Bit Digital $BTBT reported $28.5 million in Q3 net income attributable to shareholders, returning to profit with help from digital asset gains. Revenue fell 11% year over year to $27.1 million, with ethereum:native staking revenue down despite growth in its AI colocation business.

    Open source
  6. CB

    Crypto BriefingArticle ยท

    Bit Digital swings to $28.5 million Q3 profit as revenue falls 11% Bit Digital's shift from Bitcoin mining to Ethereum and AI highlights the volatility and strategic pivots in the digital asset sector. The post Bit Digital swings to $28.5 million Q3 profit as revenue falls 11% appeared first on Crypto Briefing .

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