Bit Digital Q3 Revenue Don Grow 33%, ETH Treasury and Staking Don Surge to $590M
Bit Digital report say third-quarter money na $30.5 million, dey go up 33% from last year, na Ethereum staking plus AI cloud service dey drive am. Di company WhiteFiber unit deliver $18 million, na 48% rise, and Ethereum staking money jump 542% to $2.9 million. Bit Digital grow im ETH treasury from 30,663 to 153,547 ETH (≈$590.5M), dem stake 132,000 ETH to get 3–4% annual yield. Dem buy 31,057 ETH with $150 million convertible note for October. Bitcoin mining money drop 27% to $7.4 million because di hash rate exposure reduce and network difficulty rise. Adjusted EBITDA hit $166.8 million, crypto holdings gain $146.0 million. H.C. Wainwright keep Buy rating with $7.00 target. Di move go Ethereum staking plus AI cloud contracts show say Bit Digital dey focus on steady money flow.
Bullish
Bit Digital big growth for Ethereum staking revenue and the expansion of their ETH treasury dey show sey demand dey strong and confidence dey for staking returns. The increase for staking revenue plus AI cloud services mean say income steady and dey come regularly, e reduce how dem dey rely on mining wey dey change. This kain focus on correct revenue streams plus active ETH gathering dey support positive feeling for ETH price short term. Meanwhile, as Bitcoin mining revenue drop, e no much affect ETH. Overall, the news good for Ethereum because e highlight how the network dey shift towards staking rewards plus institutional adoption.