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Bit Digital Reports $146.7M Net Loss in Q1 2026 Amid ETH Staking Decline

GateNews

Industry Reports Stocks

2026-05-15 15:32:11

ETH-3.33%

According to The Block, Nasdaq-listed Bit Digital (BTBT) reported total revenue of $27.9 million in the first quarter of 2026, down 13.6% from the previous quarter, alongside a net loss of $146.7 million.

The company’s revenue decline was driven by decreases across core operations: ETH staking revenue fell 29.4% to $2.3 million, cryptocurrency mining revenue declined 32.9% to $3.7 million, and cloud service revenue decreased 13.1% to $16.8 million. The company maintains approximately 70,000 ETH staked.

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