Bit Digital reports 2025 revenue growth as it pivots toward Ethereum-based infrastructure and AI compute

Bit Digital Inc (NASDAQ:BTBT) has reported its financial results for the fiscal year 2025, highlighting a period marked by a strategic transition toward Ethereum-focused treasury operations and increased exposure to artificial intelligence infrastructure through its majority stake in WhiteFiber. The company said total revenue for 2025 reached $113.6 million, representing a 5% increase from $108 million in 2024. Growth was primarily driven by expansion in cloud and colocation services, as well as higher revenue from Ethereum (ETH) staking. These gains were partially offset by a significant decline in digital asset mining revenue. Revenue from digital asset mining fell 53% year-over-year to $27.3 million, reflecting increased network difficulty and a reduction in the company’s active hash rate as it continues to scale back its bitcoin mining operations. In contrast, cloud services revenue rose 50% to $68.8 million, while colocation services revenue increased sharply to $8.9 million from $1.4 million a year earlier. ETH staking revenue also grew substantially to $7 million, up from $1.8 million in 2024. Despite the increase in overall revenue, Bit Digital reported a net loss attributable to shareholders of $80.3 million, or $0.31 per diluted share, compared with net income of $28.3 million, or $0.19 per diluted share, in the previous year. Adjusted EBITDA also declined to a loss of $24.9 million, down from a positive $73 million in 2024. The company attributed the shift largely to volatility in digital asset prices, including a swing from gains in 2024 to losses in 2025. As of December 31, 2025, Bit Digital held $118.4 million in cash and cash equivalents, up from $95.2 million a year earlier. Its total digital assets increased to $415.7 million, reflecting the continued accumulation of Ethereum holdings. The company significantly expanded its ETH position during the year, growing from 30,663 ETH at midyear to 155,227 ETH by year-end. Approximately 89% of these holdings were actively staked, generating nearly 1,989 ETH in rewards during 2025. The company said staking remains central to its strategy of generating yield and supporting network activity. Bit Digital’s transition to what it describes as a “Strategic Asset Company” model began in June 2025. Under this approach, the firm focuses on capital allocation across two primary areas: Ethereum as a form of economic infrastructure, and AI-related compute infrastructure through its ownership of WhiteFiber. “2025 was a defining year for Bit Digital as we repositioned the Company around a clear view of how capital markets are evolving,” Bit Digital CEO Sam Tabar said. “We exited businesses that no longer represented an efficient use of capital and concentrated our efforts in infrastructure we believe will compound over time. Today, that means Ethereum as economic infrastructure and AI compute through our majority ownership stake in WhiteFiber.” The company also confirmed that it continues to wind down its bitcoin mining segment. As of the end of 2025, its active hash rate stood at approximately 1.5 EH/s. The company said that no significant new capital will be allocated to mining, with remaining operations expected to decline over time. Proceeds from mining activities are generally being converted into Ethereum to support the firm’s treasury strategy. “As we move into the next phase, our focus is on strengthening the company’s ability to generate durable cash flow to support continued investment and compounding across the platform,” Tabar said. “We are actively evaluating opportunities to expand our business in ways that align with this objective.”