Bit Digital's Q1 revenue decreased by 13.6% to $279 million

According to Bit Digital's Q1 2026 financial report, the company's total revenue was $279 million, a decrease of 13.6% compared to the previous quarter, due to a decline in Ethereum staking income, cloud services, and mining revenue. ETH staking revenue decreased by 29.4% to $2.3 million due to a drop in ETH prices and a reduction in staking scale. As of the end of March, there were approximately 154400 Ethereum coins held with a value of approximately 327 million US dollars. Cloud service revenue decreased by 13.1% to $168 million, while Bitcoin mining revenue decreased by 32.9% to $3.7 million. The net loss expanded to $147 million due to non cash factors such as changes in the fair value of digital assets.