Bit Digital shares dropped 9.3% in premarket trading Thursday after the company reported third-quarter revenue of $27.1 million. This figure fell 16% short of the $32.2 million analyst consensus, representing an $11% decline year-over-year. Despite the revenue miss, the company posted net income attributable to shareholders of $28.5 million, or 8 cents per diluted share.
Bearish
🤖 90%
Third-quarter revenue of $27.1 million came in about 16% below the roughly $32.2 million analyst consensus, a $5.1 million shortfall, and revenue fell 11% year over year. Shares already dropped 9.3% in premarket trading on Thursday after the filing. Ether staking revenue collapsed 66% to $1 million and Bitcoin mining revenue fell to $2 million, deepening the negative read.
Catalysts
- ▼ Q3 revenue of $27.1 million missed consensus of about $32.2 million by $5.1 million
- ▼ Ether staking revenue down about 66% to $1 million and Bitcoin mining revenue down to $2 million
Risk Factors
- ▲ Net income attributable to shareholders was positive at $28.5 million, or 8 cents per diluted share
- ▲ Treasury pivot from Bitcoin to Ether completed in July 2025, so mining decline was expected as part of the announced winddown