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Bit Digital Shifts Strategy to Ethereum Staking, Reports $14.9M Profit in Q2
Bit Digital reported an 11.7% drop in total revenue for Q2 2025 but surprised the market by posting a net income of $14.9 million, a strong turnaround from last year’s $12 million loss.
Revenue Decline Driven by Shift to Ethereum Strategy
The company posted $25.7 million in revenue for the quarter, down from last year’s figures primarily due to a sharp decline in Bitcoin mining income. Bit Digital CEO Sam Tabar explained the dip came as the firm pivoted to an Ethereum-native treasury and staking approach, reducing Bitcoin mining operations.
Mining revenue plunged by 58.8%, down to $6.6 million, due to increased network difficulty, April’s Bitcoin halving, and a lower active hash rate. Despite this, Bit Digital has been building its Ethereum portfolio aggressively.
Ethereum Staking Powers New Growth Path
In Q2, the company earned around 166.8 ETH in staking rewards, holding approximately 21,568 ETH staked by June 30, with an annualized yield of 3.1%. By August 11, Bit Digital’s staked ETH ballooned to 105,015, reflecting a bold bet on Ethereum’s future.
Tabar said the goal is to establish one of the largest on-chain ETH balance sheets in the public market while generating attractive staking returns for shareholders.
Stock Performance and Market Outlook
While Bit Digital’s stock slipped 0.63% to $3.19 at Thursday’s close, shares have gained 8.1% in the last five days and are up nearly 9% year-to-date, showing investor confidence in the company’s Ethereum pivot.
As Bit Digital transitions into a dedicated Ethereum treasury and staking platform, its transformation signals a growing trend among crypto miners to diversify revenue streams and embrace the evolving DeFi landscape.
