The Nasdaq-listed company Bit Digital (BTBT) reported significant progress in the second quarter of 2025, completing its transition from mining $BTC to an Ethereum accumulation strategy ($ETH ). According to the latest financial reports, the company recorded a net profit of $14.9 million, representing a substantial improvement compared to a loss of $12 million for the same period last year. Despite a decrease in total revenue by 11.7% to $25.7 million, caused by a 58.8% reduction in Bitcoin mining, Bit Digital is actively increasing its ETH assets.
The company sold 280 BTC, using the proceeds to acquire Ethereum, and as of August 11, owned 121,076 ETH, valued at approximately $511.5 million, of which 105,015 ETH is actively staked, generating an annual income of 3.1%. CEO Sam Tabar emphasized that the company's goal is to create one of the largest ETH balances among public companies.
This strategic shift reflects the growing interest in Ethereum due to its potential for staking and profitability. Despite a short-term decline in shares by 0.63%, investors remain optimistic, as evidenced by an 8.9% rise in shares since the beginning of the year. Bit Digital also successfully conducted the IPO of its subsidiary WhiteFiber, retaining 74.3% of shares valued at $468.4 million.
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