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Bit Digital returned to profit in the third quarter as rising Ethereum prices boosted the value of its crypto treasury and its data-center business expanded. The company reported net income attributable to shareholders of USD 28.5 million, or USD 0.08 per diluted share, reversing a USD 107.2 million loss in the second quarter.
Bit Digital held approximately 163,725.9 ETH as of September 30, valued at USD 439.4 million. The valuation reflected an Ethereum closing price of about USD 2,684 on that date. The company held 74,606.4 ETH directly, worth USD 200.2 million. It also liquid-staked 73,683 ETH during the quarter and received 66,192 LsETH in exchange.
Bit Digital sold 1,625 ETH for USD 3.4 million during the quarter, at an average price of about USD 2,114.62 per coin. It did not purchase any ETH in the period. The company recorded a USD 3.2 million non-cash impairment charge on its LsETH holdings.
That charge did not represent a realized loss on the underlying Ethereum position. The company’s earnings performance still depended heavily on the valuation of its Ethereum-related assets.
For the first nine months of 2026, colocation revenue increased nearly 200% year over year. The company said the first 20 megawatts of contracted capacity at NC-1 had begun generating revenue.
Colocation revenue rose to USD 5.6 million, up 232% from the third quarter of 2025. Revenue from the segment also increased 19% sequentially from the second quarter. The growth came as WhiteFiber’s NC-1 data-center campus began contributing revenue. The company also benefited from the MTL-3 site becoming fully operational in November 2025.
Native ETH staking revenue improved 14% sequentially. Management positioned Ethereum as a core treasury and staking asset, while expanding its AI and high-performance computing infrastructure business. The USD 439.4 million ETH position remains a major driver of reported earnings.
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