TLDR
- Bit Digital’s Q2 revenue declined by 11.7%, driven by a focus on Ethereum treasury.
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The company turned a profit of $14.9 million, reversing last year’s Q2 net loss.
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Bit Digital’s Ethereum staking rewards rose, with 105,015 ETH staked as of August 2025.
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The company is shifting away from Bitcoin mining, focusing on Ethereum staking.
Bit Digital, a Nasdaq-listed crypto infrastructure firm, reported a decline in total revenue for the second quarter of 2025, citing a strategic pivot to Ethereum-focused operations. The company posted $25.7 million in total revenue, marking an 11.7% decrease year-over-year. This shift comes as Bit Digital winds down its Bitcoin mining operations to focus on building an Ethereum treasury.
Sam Tabar, CEO of Bit Digital, commented that the company is “methodically winding down our bitcoin mining operations and redeploying capital into ETH.” The company’s focus now includes staking and accumulating Ethereum as it moves away from Bitcoin-centric strategies. This pivot is part of Bit Digital’s broader transformation into a dedicated Ethereum treasury and staking platform, a trend gaining traction within the crypto industry.
Decline in Bit Digital Bitcoin Mining Revenue
The pivot away from Bitcoin mining had a clear impact on Bit Digital’s revenue. The company reported a significant 58.8% decrease in revenue from its crypto mining segment, which generated only $6.6 million in Q2, down from $16.1 million in the same period last year.
This decline is attributed to factors such as increased network difficulty, the Bitcoin halving event in April 2024, and a reduction in the active hash rate.
Despite these challenges, Bit Digital has shifted its focus toward Ethereum staking. The company earned approximately 166.8 ETH in staking rewards during the second quarter. As of June 30, the company had 21,568 ETH actively staked, producing an annualized yield of 3.1%. This shift marks a clear strategic move toward increasing its Ethereum holdings and staking rewards.
Ethereum Strategy and Staking Growth
Bit Digital’s Ethereum strategy has gained traction with significant growth in the company’s staked ETH position. As of August 11, the company had increased its active Ethereum staking position to 105,015 ETH. This represents a strong commitment to building one of the largest Ethereum balance sheets in the public markets.
Tabar emphasized the company’s goal: “Our objective is to build one of the largest on-chain ETH balance sheets in the public markets and to generate attractive staking yields for shareholders.”
Bit Digital’s move into Ethereum staking is not just about accumulating the cryptocurrency but also generating returns for its shareholders through staking rewards.
Market Response and Outlook for Bit Digital
Following the announcement of its Q2 earnings and pivot to Ethereum, Bit Digital’s stock saw a slight dip of 0.63%, closing at $3.19. However, over the past five days, the company’s stock price has gained 8.1%, and its year-to-date increase stands at 8.9%.
This indicates some positive market sentiment surrounding the company’s new focus on Ethereum, despite the short-term revenue decline.
The shift from Bitcoin mining to Ethereum staking aligns with broader market trends and the growing interest in Ethereum as a platform for staking and yield generation. As Bit Digital continues to build its Ethereum treasury, its financial strategy will likely depend on both the future performance of Ethereum and the ongoing demand for staking products.
