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Bit Digital Reports $27.9 Million First-Quarter Revenue as It Shifts Capital Toward Ethereum

According to Bit Digital’s latest figures, the company posted $27.9 million in Q1 2026 revenue and a $146.7 million net loss while holding sizable Ethereum and WhiteFiber positions amid weaker staking income.

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Fact Check
The core financial figures in the claim are strongly supported by primary and secondary sources. The official Bit Digital press release (bit-digital.com) confirms Q1 2026 revenue of exactly $27.9 million. The $146.7 million net loss figure is confirmed by The Block, crypto.news, and Yahoo Finance as the net loss attributable to shareholders — the standard headline metric — while the company-level net loss was $12.3 million (a GAAP distinction related to WhiteFiber non-controlling interest). The claim's description of 'weaker staking income' is accurate: ETH staking revenue fell 29.4% to $2.3 million. The Ethereum treasury strategy shift and WhiteFiber positions are confirmed across all sources. The minor caveat is that the claim does not distinguish between company-level and shareholder-attributable net loss, but the $146.7 million figure is the widely reported and contextually correct shareholder metric.
Summary

Bit Digital reported Q1 2026 revenue of $27.9 million and a net loss of $146.7 million as it continued shifting capital away from bitcoin mining toward Ethereum-focused operations. As of March 31, the company held 155,444 ETH valued at about $327 million and 27.04 million WhiteFiber shares worth about $322 million. Q1 staking revenue fell 29.4% to $2.3 million, adding detail to the company’s weaker quarterly performance.

Terms & Concepts
  • ETH staking: A process where Ethereum holders lock tokens to help secure the network and earn rewards in return.
  • Ethereum: A blockchain network whose native token is ETH, widely used for smart contracts, staking, and decentralized applications.
  • WhiteFiber: A company or equity holding referenced by Bit Digital as part of its asset portfolio, with 27.04 million shares valued at about $322 million.