Bit Digital Q1 revenue falls on lower cloud services demand

Bit Digital,

14/05/2026 23:09

Overview

US Ethereum and AI infrastructure firm's Q1 revenue fell 14% but beat analyst expectations

Adjusted EBITDA for Q1 missed analyst expectations

Revenue decline driven by lower cloud services, ETH staking, and digital asset mining

Outlook

Company expects capital allocation to continue shifting toward Ethereum and infrastructure-related opportunities

Bit Digital sees demand for AI compute and power exceeding available supply in infrastructure markets

Company anticipates Ethereum infrastructure will become increasingly important to the digital financial system

Result Drivers

LOWER CLOUD SERVICES REVENUE - Q1 revenue decline was primarily driven by lower cloud services revenue

ETH STAKING REVENUE DROP - ETH staking revenue fell 29% from the prior quarter due to lower average ETH prices and reduced natively staked balances after repositioning ETH into liquid staking

LOWER DIGITAL ASSET MINING REVENUE - Digital asset mining revenue declined 33% due to decreased BTC production and lower BTC prices

Company press release: ID:nPn7RGT5Na

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$27.90 mln
$25.77 mln (5 Analysts)
Q1 Adjusted EBITDA
Miss
-$9.40 mln
$205,000 (3 Analysts)

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)