#BitDigital转型 Bit Digital (NASDAQ: BTBT) recently announced a significant strategic transformation from Bitcoin mining operations to Ethereum (ETH) staking and cloud services, aiming to build a high-yield, low-cost Ethereum financial platform. Here are the key points of its transformation:

1. Strategic Focus Shift to Ethereum

Significant Increase in ETH Holdings: As of August 11, 2025, Bit Digital holds 121,076 ETH (valued at approximately $511.5 million), of which 105,015 ETH is staked, with an annualized yield of about 3.1%.

Exit from Bitcoin Mining: The company has ceased investment in new mining machines and plans to gradually shut down its Bitcoin mining operations. Q2 Bitcoin mining revenue decreased by 58.8%, contributing only $6.6 million in revenue.

2. Financial Performance and Capital Restructuring

Q2 2025 Financial Report:

- Total Revenue: $25.7 million (down 11.7% year-on-year), primarily affected by declining Bitcoin mining revenue.

- Net Profit: $14.9 million (compared to a net loss of $12 million in the same period last year), mainly benefiting from the appreciation of ETH assets and growth in cloud services.

- Total Cash and Digital Assets: $2.73 billion (including $181.2 million in cash and $912 million in digital assets).

WhiteFiber IPO: The spin-off subsidiary WhiteFiber has completed its listing, with Bit Digital retaining a 74.3% stake, valued at approximately $468.4 million.

3. Business Model Optimization

Growth in Cloud Services: Cloud business revenue increased by 32.8% year-on-year, reaching $16.6 million, partially offsetting the decline in mining revenue.

Low-Cost Operations: The operational cost of ETH staking is less than 10% of EBIT, and the company plans to further streamline management expenses.

4. Regulatory and Market Environment

Favorable Policies: The U.S. GENIUS Act and CLARITY Act provide a clearer regulatory framework for ETH staking, reducing compliance risks.

Market Response: Although Q2 revenue fell short of expectations (analysts estimated $27.47 million), the stock price has still risen by 8.9% this year.

5. Future Outlook

Bit Digital's goal is to become the largest publicly traded ETH holding company on NASDAQ and achieve long-term growth through staking income and cloud services. However, the transformation still faces challenges, such as ETH price volatility and regulatory uncertainty from the SEC regarding staking.