Bit Digital Inc. reported third-quarter 2026 net income of $28.5 million, or $0.08 per diluted share, reversing a $107.2 million loss in the previous quarter. Revenue fell 11% year over year to $27.1 million, about 16% below analyst consensus of roughly $32.2 million, while shares dropped 9.3% in premarket trading. Bitcoin mining revenue declined to $2 million from $7.4 million as the company wound down mining operations, and Ethereum staking revenue fell about 66% year over year to $1 million, despite rising 14% from the prior quarter. Bit Digital held approximately 163,726 ETH valued at roughly $439 million, after shifting its treasury strategy from Bitcoin to Ether in July 2025. The company has converted 73,683 ETH into liquid-staking token LsETH and pledged 64,000 LsETH as loan collateral, while carrying $150 million in convertible notes. WhiteFiber, in which Bit Digital owns 59.7%, reported a 232% year-over-year increase in colocation revenue to $5.6 million, with cloud-services revenue steady. Bit Digital also reported $143.5 million in cash, including $138.5 million held by WhiteFiber, and approximately $16.3 million from digital-asset gains and impairments among non-operating items. WhiteFiber was valued at about $487 million on September 30. Chief Executive Officer Sam Tabar said the company could consider share repurchases because of a persistent net asset value discount, subject to shareholder approval, although selling Ether could reduce staking income.