Bit Digital deepens Ethereum and AI infrastructure focus, Q1 revenue hits $27.9M with strong staking margins

Bit Digital Inc reported $27.9 million in Q1 2026 revenue as it advanced its focus on Ethereum treasury management and AI infrastructure via its subsidiary WhiteFiber. The company held about 155,444 ETH valued at $327 million but repositioned 70,000 ETH into liquid-staked ETH to maintain flexibility and yield. Colocation services revenue rose 23.9% to $4.8 million, while cloud services and Ethereum staking contributed $16.8 million and $2.3 million respectively, with Ethereum staking delivering a 94.7% gross margin. Despite a 13.6% revenue decline from Q4 2025 and a net loss of $146.7 million, Bit Digital is winding down bitcoin mining to focus on integrated Ethereum and AI infrastructure, which it sees as key to the future digital financial system.