Bit Digital Inc. reported third‑quarter 2025 revenue of $30.5 million, a 33 % year‑over‑year increase, and a net profit of $146.7 million, or $0.47 per diluted share. The company’s GAAP earnings per share beat the consensus estimate of –$0.004 by $0.474, a margin that reflects a sharp turnaround from the $38.8 million loss reported a year earlier.
Revenue growth was driven by a 48 % rise in WhiteFiber cloud‑services revenue to $18.0 million and a 542 % jump in Ethereum staking income to $2.9 million. WhiteFiber’s cloud‑services segment, which represents the company’s AI‑infrastructure exposure, grew from $12.4 million in Q2 2025 to $18.0 million in Q3, while staking income surged from $0.5 million to $2.9 million, underscoring the impact of higher ETH yields and a larger treasury position.
The company’s ETH holdings were reported as 153,547 ETH as of October 31 2025, valued at approximately $590.5 million. This figure corrects the earlier misstatement of 547 ETH and highlights the scale of Bit Digital’s treasury strategy, which has become a significant source of net income through asset appreciation and staking rewards.
Operating margins expanded to 48 % from 46 % in the prior quarter, driven by higher‑margin staking income and improved cost discipline in the cloud‑services division. The company’s general‑and‑administrative expenses were reduced by 12 % year‑over‑year, while capital expenditures were capped at $12 million, allowing the firm to convert a previously negative operating income into a robust $166.8 million adjusted EBITDA.
CEO Sam Tabar emphasized that the company’s pivot to an Ethereum‑centric treasury and staking model is now delivering “substantial and sustainable profitability” while maintaining a majority stake in WhiteFiber to capture AI‑infrastructure growth. CFO Eric Huang noted that the $168 million gain on digital assets was a key contributor to net income and that standalone Bit Digital G&A is expected to normalize as the company scales its staking operations.
Investors reacted cautiously to the results, with analysts noting that while the GAAP earnings beat was significant, the company’s profitability remains heavily influenced by digital‑asset appreciation and staking yields, which are subject to market volatility. The earnings report signals confidence in the company’s strategic shift, but also underscores the need for continued cost control and diversification of revenue streams beyond asset‑based gains.
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