Bit Digital, listed on Nasdaq, reported its financial results for Q2 2025, showing a revenue decline and a shift in strategy.
Company Financial Results
The company reported total revenue of $25.7 million, down 11.7% year-over-year. Despite the revenue drop, it achieved a net income of $14.9 million, or $0.07 per share, turning around from a $12 million loss in the same period last year.
"The decline was primarily driven by a decrease in digital asset mining revenue as the Company focused on Ethereum-native treasury and staking strategies," the company stated.
Ethereum Strategy
CEO Sam Tabar stated that the quarter "marked the beginning of Bit Digital’s transformation into a dedicated Ethereum treasury and staking platform." In July, the company fully transitioned from Bitcoin mining to focus on Ethereum staking and treasury management.
Mining Volumes and Assets
As of June 30, 2025, Bit Digital held 30,663 ETH. By July 18, its holdings had grown to 120,306 ETH. By August 11, the company’s ETH balance reached 121,076, worth about $511.5 million.
During Q2, Bit Digital mined 68.2 BTC, down from 83.3 BTC last quarter, with mined BTC being converted into ETH to support its treasury strategy.
With a decline in revenue and a strategic shift, Bit Digital demonstrates adaptation to new market conditions while continuing to develop its assets within the Ethereum ecosystem.
