Bit Digital Posts $146M Q1 Loss as Ethereum Treasury Tops 155,000 ETH

Bit Digital reported a $146.7 million net loss for Q1 2026 on May 16, driven by non-cash mark-to-market adjustments on its Ethereum holdings despite narrowing the loss from $185.3 million in the prior quarter. The company holds 155,444 ETH valued at $327 million at an average acquisition cost of $3,045, while repositioning 70,000 ETH into liquid staking to maintain flexibility. Revenue fell 13.6% QoQ to $27.9 million as the firm winds down Bitcoin mining and accelerates its pivot to Ethereum staking and AI infrastructure via WhiteFiber.