Bit Digital Q1 Revenue Falls 13.6% to $27.9M, Ethereum Staking Yields Slide 29.4%

According to BlockBeats, Bit Digital released its Q1 2026 earnings report on May 15, showing total revenue of $27.9 million, down 13.6% from the previous quarter. The decline was primarily driven by falling Ethereum staking yields, which dropped 29.4% to $2.3 million due to ETH price pullback and reduced staking holdings. Cloud services revenue declined 13.1% to $16.8 million, while Bitcoin mining revenue fell 32.9% to $3.7 million.

The Nasdaq-listed company reported a net loss of $146.7 million for the quarter, mainly attributable to non-cash fair value changes in digital assets. As of March 31, Bit Digital held approximately 154,400 ETH worth about $327 million, with about 70,000 ETH converted to liquid staking.