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Bit Digital Reports $5.1 Million Q3 Revenue Miss, Shares Drop in Premarket
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Q3 revenue was $27.1 million, about 16% below consensus. Shares fell roughly 9% in premarket trading after the revenue miss.
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Profit beats, revenue misses
Bit Digital reported third-quarter 2026 net income attributable to shareholders of $28.5 million, or 8 cents per diluted share, while it booked third-quarter revenue of $27.1 million, down from $30.5 million a year earlier. Bit Digital’s revenue came in nearly 16% below analyst consensus estimates of about $32.2 million, leaving a shortfall of about $5.1 million, even as the company posted a reported profit of $0.08 per diluted share.
Bit Digital said its Bitcoin mining revenue fell to $2.0 million from $7.4 million, and the company described the decline as "consistent with the continued winddown of the business." Bit Digital also reported Ether staking revenue of $1.0 million, down from $2.9 million a year earlier, as the company’s results reflected a shift away from mining and toward Ethereum strategies and AI infrastructure.
Treasury and infrastructure
Bit Digital held 163,726 ETH valued at $439.4 million as of Sept. 30, and the company disclosed that it shifted its corporate treasury strategy from Bitcoin to Ether in July 2025.
Bit Digital’s results highlighted WhiteFiber, with colocation revenue rising 232% year over year to $5.6 million as the MTL-3 facility came fully online and the first 20 MW at the NC-1 campus began contributing revenue.
Bit Digital’s quarter also included approximately $16.3 million in realized and unrealized gains on digital assets and digital intangible assets, alongside a $3.2 million non-cash impairment on LsETH.
Bit Digital’s cash position showed $143.5 million as of September 30, 2026, with $138.5 million sitting at WhiteFiber, while consolidated convertible debt stood at $445.3 million.
Shares fall, what to watch
Bit Digital shares fell 9.3% in premarket trading Thursday after the company reported third-quarter revenue below Wall Street estimates, and the stock was described as sinking further as investors focused on the top-line shortfall. Cointelegraph said Bit Digital stock fell 5% in pre-market after Q3 revenue miss, and Investing Canada said the stock fell 5.64% in premarket trading to $0.75, down from the previous close of $0.7948.
Bit Digital’s disclosures pointed to remaining performance obligations tied to the AI colocation buildout of $729 million, with $235.1 million slated for 2027 and $206.9 million in 2028. Bit Digital also signaled it does not intend to allocate meaningful capital back into bitcoin mining, while its next disclosures were framed around whether staking revenue recovers and how quickly the mining winddown reshapes overall revenue.