Bit Digital stock falls 5% in pre-market after Q3 revenue miss
Bit Digital's stock fell 9.3% in premarket trading on Thursday after the company reported third-quarter revenue of $27.1 million, missing analyst estimates by 16%.
Bit Digital's $27 million third-quarter revenue came in 16% below analyst consensus estimates, marking an over $5 million shortfall. The decline represents an 11% drop from the $30.5 million reported in the same period last year.
Despite the revenue miss, the company reported net income attributable to shareholders of $28.5 million, or 8 cents per diluted share, according to its Thursday SEC filing.
Revenue Declines
Bit Digital reported $1 million in Ether staking revenue, down about 66% from $2.9 million a year ago. The company also held 163,725 ETH worth $439.4 million. Bitcoin mining revenue stood at $2 million, significantly down from $7.4 million in the prior year.
The decline in mining revenue was consistent with the continued winddown of the business.
Strategic Shift
The company revealed it pivoted its corporate treasury strategy from Bitcoin to Ether in July 2025, a move that has influenced its current revenue composition as it transitions away from mining operations.
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