Key Highlights

● Second-quarter Revenue was $32.1 million, up 15% from the first quarter.

● Cloud services contributed $23.8 million, up 42% sequentially, at about a 58% margin.

● Net loss was $107.2 million, with about $86 million from non-cash and non-operating items.

● Bit Digital held about 164,310.5 ETH and 27,043,750 WhiteFiber shares at 30 June.

Latest verified developments

Bit Digital, Inc. (NASDAQ:BTBT) published its second-quarter 2026 results on 13 August 2026, reporting revenue of $32.1 million. The company said digital asset movements dominated the quarter's loss, while cloud services and colocation supplied most of the revenue.

Chief executive Sam Tabar described the period as one that "was about Capital allocation".

Second-quarter results

Revenue for the quarter was $32.1 million, up 15% from $27.9 million in the first quarter; first-half revenue was $60.0 million, up 18% year on year. Gross Profit was $18.6 million, a 57.9% margin. Cloud services contributed $23.8 million, up 42% sequentially, colocation $4.7 million, Bitcoin Mining $2.4 million from 32.3 BTC mined and Ethereum staking $0.9 million, down from $2.3 million in the first quarter. Mining fell from 48.1 BTC in that quarter. Gross margins were about 58% in cloud, 63% in colocation and 26% in mining.

The net loss attributable to shareholders was $107.2 million, or $0.31 per diluted share, against $146.7 million, or $0.45, in the first quarter. The company said non-cash digital asset movements and non-operating items accounted for about $86 million of the loss, including a $46.0 million non-cash Impairment on liquid-staked ether. Operating Cash Flow for the six months was $46.8 million.

Ether holdings, WhiteFiber and liquidity

At 30 June Bit Digital held about 164,310.5 ETH including ether-equivalents in an externally managed fund, with ETH at about $1,569. Its 27,043,750 WhiteFiber shares had an implied value of about $1.05 billion. Tabar said: "We are not trying to hold the most ETH. We are trying to get the most out of the ETH we hold."

Cash was about $83.6 million, of which $56.1 million sat at WhiteFiber, and convertible notes were $336.2 million. WhiteFiber, the cloud and high-performance computing business, reported remaining performance obligations of about $1.0 billion and new multi-year cloud agreements above $540 million in contract value. Bit Digital also provided WhiteFiber with a delayed-draw term Facility of up to $150 million. Contract liabilities were $143.1 million. It bought 8,568 ETH on 11 May for $20 million, sold none, and raised $50 million of Liquidity against its ETH.

Cloud growth, NC-1 and the ether treasury

Tabar said the market "continues to value Bit Digital primarily as a passive digital asset treasury". The cloud services and colocation lines are the counterweight to that framing. The company said its NC-1 site was expected to reach full run-rate billing on 40 MW of contracted IT load in August, and ether prices continue to feed into reported results through digital asset movements.

Against $336.2 million of convertible notes, the company held about $83.6 million of cash, $56.1 million of it at WhiteFiber.