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Bit Digital posts $28.5M Q3 profit, holds $439M in Ethereum, shifts focus from Bitcoin mining.

Market News
12 Nov 2026, 14:25 WIB
Crypto news
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Bullish
Bit Digital posts $28.5M Q3 profit, holds $439M in Ethereum, shifts focus from Bitcoin mining.

Bit Digital reported a $28.5 million profit in Q3 2026, reversing a prior loss, driven by gains in Ethereum assets valued at $439.4 million as of September 30. The company is reducing Bitcoin mining operations while expanding its AI infrastructure arm, WhiteFiber, which saw a 232% revenue increase. Native Ethereum staking revenue rose 14%, supporting the company's strategic shift. Management is considering share buybacks but notes selling ETH to fund them could reduce staking income and exposure to price gains.

Bit Digital's Ethereum holdings and Q3 profit rebound provide context for readers. For those following the cryptocurrency market, here is Pluang's snapshot as of Nov 12, 2026 19:31 WIB: out of 50 major cryptocurrencies, 7 rose and 41 fell today. Notable movers include BAL (Balancer) at Rp16.297 with an 11.14% increase, ONE (Harmony) at Rp31 up 10.27%, and ENJ (Enjin Coin) at Rp382 down 9.60%. The most notable figure is BAL's 11.14% gain.

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