Bit Digital Q2 Net Loss Hits $107.2M While Stock Rises 2.05%

Bit Digital reports $107.2M Q2 loss driven by ETH staking write-downs, yet shares gain 2.05% as cloud revenue jumps 42% to $23.8M.

Woofun AI reports that Bit Digital, a Nasdaq-listed Ethereum-backed and AI infrastructure firm, posted a net loss of $107.2 million for the second quarter. Despite the deficit, shares climbed 2.05% to $1.49 on Thursday, followed by a 1.34% after-hours increase. Quarterly revenue reached $32.1 million, a 15% sequential rise, with cloud service income surging 42% to $23.8 million and achieving a gross margin of nearly 58%. The loss stemmed mainly from non-cash digital asset impairments, including a $46.6 million write-down on staked ETH. The company holds 164,310.5 ETH and has pledged up to $150 million to WhiteFiber for data center construction.