Bit Digital reports Q1 results

* Bit Digital press release [https://seekingalpha.com/pr/20516714-bit-digital-inc-announces-first-quarter-2026-financial-results] (BTBT [https://seekingalpha.com/symbol/BTBT]): Q1 net loss attributable to Bit Digital shareholders for the first quarter was $(146.7) million, compared to $(185.3) million in Q4 2025.
* Revenue of $27.9M (+11.2% Y/Y) beats by $2.92M.
* Segment gross profit for the first quarter was $15.4 million, reflecting gross margins of roughly 59.5% in cloud services, approximately 59.3% in colocation services, and approximately 94.7% in ETH staking.
* As of March 31, 2026, the Company held approximately 155,444.4[1] ETH.
* Based on a closing ETH price of approximately $2,104 on March 31, 2026, the market value of the Company's ETH holdings was approximately $327.0 million
* The Company's average ETH acquisition price for all holdings was approximately $3,045 as of March 31, 2026.
* Adjusted EBITDA for the first quarter was $(9.4) million. The figure excludes non-cash digital asset mark-to-market losses of $121.1 million, share-based compensation of $15.3 million, a gain on disposal of property, plant and equipment of $1.8 million.
* Cash and cash equivalents totaled $79.5 million as of March 31, 2026, compared to $118.4 million as of December 31, 2025.
* Total digital assets were $295.0 million at quarter-end, compared to $415.7 million as of December 31, 2025. The decline primarily reflected lower ETH prices at quarter-end, rather than reductions in holding.
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* Bit Digital Q1 Earnings Preview [https://seekingalpha.com/news/4592240-bit-digital-q1-earnings-preview]
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