Bit Digital said bitcoin mining is “no longer a strategic growth priority” in its third-quarter results, announced on November 12. The company said mining remains gross-margin positive, at about 27%, but it does not expect to put meaningful growth or maintenance capital into the business.
Mining revenue fell to $2.0 million from $7.4 million a year earlier. Bit Digital mined 28.4 BTC in the quarter, compared with 64.9 BTC in the third quarter of 2025. The release says capital will keep shifting toward Ethereum and infrastructure. It contains no specific plan for mining machines, and the company has not announced a full shutdown.
Bit Digital held about 163,725.9 ETH at quarter-end, with a market value of $439.4 million at roughly $2,684 per ETH. Of that, 74,606.4 ETH was held directly and 73,683 ETH was liquid staked into LsETH. Staking revenue was $1.0 million, down from $2.9 million a year earlier but up 14% from the prior quarter.
The company also owns 27,043,750 shares of WhiteFiber, or 59.7%, with an implied value of about $487 million at $18.01 per share. It said it does not intend to sell those shares in 2026.
Net income attributable to shareholders was $28.5 million, or $0.08 per diluted share versus a net loss of $107.2 million in the second quarter. Crypto Insiders reported that roughly $15 million of the profit reflected valuation gains and accounting effects on digital assets.
Track the market yourself with AiTraderView’s FREE tools: Crypto Cockpit for charts and 75+ indicators, Crypto Screener to find setups, and Crypto Portfolio to follow your holdings. Just create a FREE account and try them yourself!
Sources:
⚠️ RISK WARNING & AI DISCLOSURE
- This information is generated by Artificial Intelligence (AI) and complex algorithms. While advanced, these systems can contain errors or inaccuracies and are for educational purposes only.
- Technical analysis provides no guarantees; this information is purely informative.
- All discussed scenarios are hypothetical and do not constitute predictions or expectations.
- Past performance is not an indicator of future results.
- This is not financial advice and is not intended as a call-to-action for the reader.
- No implicit direction is claimed, and no specific behavior of market participants is suggested.