Quarterly ResultMay 15, 2026, 07:07 AM
Bit Digital Q1 Net Loss $(150.3)M; EPS $(0.45)
AI Summary
Bit Digital reported a significant net loss of $(150.3) million for Q1 2026, or $(0.45) per share, compared to a net loss of $(57.7) million in Q1 2025. Total revenues increased to $27.9 million, driven by growth in cloud, colocation, and ETH staking services, despite a decrease in digital asset mining revenue. The company is strategically shifting towards Ethereum infrastructure and high-performance computing (HPC) through its 70.1% stake in WhiteFiber Inc. and recently acquired Financière Louis David.
Key Highlights
- Net loss attributable to shareholders was $(146.7)M in Q1 2026, up from $(57.7)M in Q1 2025.
- Basic loss per share increased to $(0.45) in Q1 2026 from $(0.32) in Q1 2025.
- Total revenues rose 11.2% to $27.9M in Q1 2026 from $25.1M in Q1 2025.
- Losses on digital assets significantly increased to $(121.1)M in Q1 2026.
- General and administrative expenses surged to $(27.6)M in Q1 2026.
- Convertible notes payable increased to $334.2M as of March 31, 2026.
- Cash and cash equivalents decreased to $79.5M by March 31, 2026.
- Company holds 70.1% equity stake in WhiteFiber Inc.
Price Impact
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