Bit Digital’s Q1 revenue declined 13.6% quarter-on-quarter, primarily dragged down by a drop in ETH staking revenue.

According to The Block, Bit Digital, a Nasdaq-listed company, reported total revenue of $27.9 million for the first quarter of this year, a 13.6% decline from Q4 2025, primarily driven by lower cloud services revenue, Ethereum (ETH) staking revenue, and digital asset mining revenue. Specifically, ETH staking revenue fell 29.4% quarter-on-quarter to $2.3 million. Meanwhile, the company posted a net loss of $146.7 million, narrowing from $185.3 million in the prior quarter. As of the end of March, Bit Digital held approximately 154,444 ETH—valued at roughly $327 million at the time—and continued reducing its Bitcoin mining exposure, reallocating capital toward Ethereum and related infrastructure opportunities.