Bit Digital posts $28.5m profit in Q3 2026 as colocation revenue jumps
The bitcoin miner turned strategic asset firm reported net income of $28.5 million and cash of $143.5 million, while revenue fell 11% year‑on‑year.
Key takeaways
- 1Net profit $28.5 million, $0.08 per diluted share
- 2Total revenue $27.1 million, down 11 percent YoY
- 3Colocation revenue $5.6 million, up 232 percent YoY
- 4Cash and cash equivalents $143.5 million as of Sep 30
- 5Ethereum holdings 163,726 ETH worth $439.4 million
Bit Digital reported a net profit of $28.5 million for the third quarter of 2026, or $0.08 per diluted share, on November 12, 2026. Total revenue was $27.1 million, an 11 percent decline from $30.5 million a year earlier. Nine‑month revenue reached $87.1 million, up 7 percent year‑on‑year. The filing said the results reflect higher digital‑asset values and a return to positive GAAP earnings.
Revenue from cloud services was $18.1 million, posted at a gross margin of roughly 56 percent. Revenue from colocation services rose to $5.6 million, up 232 percent from the same quarter in 2025 and posted a 57 percent gross margin. Sequentially, colocation revenue increased 19 percent from Q2 2026. For the nine‑month period, colocation revenue was up nearly 200 percent year‑on‑year, driven by the MTL‑3 site becoming fully operational and the first 20 MW of capacity at the NC‑1 facility.
ETH staking revenue fell to $1.0 million from $2.9 million a year ago after the company repositioned ETH into liquid staking. On a sequential basis, staking revenue rose 14 percent from Q2 2026 as the price of Ethereum increased. Mining revenue was $2.0 million on 28.4 bitcoin mined, down from $7.4 million on 64.9 bitcoin in Q3 2025; the mining segment posted a gross margin of about 27 percent.
Net cash provided by operating activities was $163.2 million for the nine months ended September 30, 2026, versus a cash use of $204.9 million in the same period of 2025. Cash and cash equivalents totaled $143.5 million as of September 30, up from $83.6 million on June 30, 2026. Of the balance, $5.0 million was held at Bit Digital and $138.5 million at WhiteFiber. Contract liabilities grew to $154.1 million from $7.7 million at year‑end 2025, and remaining performance obligations stood at $729.0 million.
Bit Digital owned 27,043,750 WhiteFiber shares (59.7 percent of outstanding) valued at roughly $487 million based on a Nasdaq closing price of $18.01. The company’s Ethereum treasury held about 163,726 ETH worth $439.4 million at a price of $2,684 per ETH. The firm will discuss the results on a conference call at 8:30 a.m. ET on November 12, according to the filing.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.