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Bit Digital, Inc. Announces First Quarter of Fiscal Year 2025 Financial Results

Bit Digital, Inc., a New York City–based global platform for HPC and digital asset production, announced its financial results for Q1 2025 with $25.1 million total revenue and a 17% decline year-over-year.
The revenue decline resulted mainly from a 64% decrease in bitcoin mining revenue after the April 2024 halving, partially offset by 84% growth in cloud services and new colocation revenue following the late 2024 Enovum acquisition.
Cloud services generated $14.8 million, colocation $1.6 million, and digital asset mining, including $0.6 million ETH staking, comprised 31% of total revenue, with the company maintaining active bitcoin miners in Iceland and significant digital asset holdings.
For the first quarter of 2025, Adjusted EBITDA was negative $44.5 million, reflecting a $49.2 million unrealized loss related to the valuation of digital assets. The company also posted a GAAP loss per share of $0.32, a significant decline from the $0.43 earnings per share reported in the same period last year.
Bit Digital advanced its platform by deploying NVIDIA B200 GPUs, expanding customer contracts, pursuing datacenter growth, and forming strategic partnerships, while expecting mining to decline and infrastructure segments to drive future growth.

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Bit Digital, Inc. Announces First Quarter of Fiscal Year 2025 Financial Results

NEW YORK, May 15, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (the "Company"), a global platform for high-performance computing ("HPC") infrastructure and digital asset production headquartered in New York City, today announced its financial results for the First Quarter…

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