# Bit Digital Posts $28.5 Million Q3 Profit, Holds 163,726 ETH

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/55572
Published: 2026-11-12T15:30:42.000Z
Updated: 2026-11-12T15:30:42.000Z
Section: Business

> The profit followed a $107.2 million second-quarter loss and came mainly from gains on digital assets. Bit Digital sold 1,625 ETH and bought none during the quarter.

Bit Digital posted $28.5 million in third-quarter 2026 net income attributable to shareholders, reversing a second-quarter loss as digital-asset gains lifted results and the company ended September with 163,725.9 Ether (ETH).

At a reference price of about $2,684 per token, the Ether position was valued at roughly $439.4 million. Bit Digital sold 1,625 ETH during the quarter at an average price of $2,114.62 and bought none. Its profit followed a $107.2 million net loss in the second quarter and came mainly from gains on digital assets.

Total revenue was $27.1 million, down 11% from $30.5 million a year earlier. Cash and cash equivalents stood at $143.5 million on Sept. 30, up from $83.6 million on June 30.

Bit Digital converted 73,683 ETH into liquid staking and received 66,192 LsETH. It used 19,000 LsETH as loan collateral and held 47,192 as a margin buffer. The company also recorded a $3.2 million noncash impairment on LsETH.

Staking revenue was $1 million, compared with $2.9 million a year earlier. Bit Digital attributed most of the decline to converting some ETH into liquid staking assets used as collateral for WhiteFiber financing.

Cloud services generated $18.1 million in revenue. Hosting revenue rose 232% year over year to $5.6 million as the MTL-3 site reached full operation and the first 20 megawatts at NC-1 began generating revenue.

Bitcoin (BTC) mining revenue was $2 million. Bit Digital mined 28.4 BTC, down from 64.9 BTC a year earlier, as it gradually exited the business. The company held a 59.7% stake in WhiteFiber as of Sept. 30 and said it did not plan to sell the stake during 2026.