Bit Digital reports Q1 2026 revenue drop amid strategic shift to Ethereum and AI infrastructure.

Bit Digital announced a 13.6% revenue decline to $27.9 million in Q1 2026, driven by lower cloud services, ETH staking, and digital asset mining revenues. The company is shifting focus from Bitcoin mining to Ethereum and AI infrastructure, maintaining a large ETH holding valued at $327 million and majority ownership in AI infrastructure firm WhiteFiber. Despite a net loss of $146.7 million, Bit Digital emphasizes its strategic asset approach centered on Ethereum treasury management and staking, aiming to capitalize on the growing digital financial system integrating AI and blockchain technologies. The company plans to continue reallocating capital towards Ethereum and infrastructure opportunities.