PANews August 15 news, Bit Digital, Inc. (NASDAQ stock code: BTBT) announced its financial results for the second quarter of 2025, with total revenue of $25.7 million, a decrease of 11.7% compared to $29 million in the second quarter of 2024. Revenue from digital asset mining was $6.6 million, a decrease of 58.8% from $16.1 million in the same period last year. Revenue from cloud services was $16.6 million, an increase of 32.8% from $12.5 million in the same period last year. ETH staking revenue was $400,000, a decrease of 2.3% from $400,000 in the second quarter of 2024. Net profit was $14.9 million, or diluted earnings per share of $0.07, compared to a net loss of $12 million in the same period last year, or diluted earnings per share of $0.09.
Adjusted EBITDA for the second quarter of 2025 was $27.8 million, while it was $3.8 million in the second quarter of 2024. The total amount of cash and cash equivalents was $181.2 million, and the total amount of digital assets was $91.2 million.
In the second quarter, Bit Digital launched a strategic transformation aimed at becoming a company focused on Ethereum fund management and staking. As of August 11, Bit Digital held 121,076 ETH, with an actively staked amount of 105,015 ETH.
