Bit Digital Reports Q3 2026 Financial Results with Return to GAAP Profitability
Bit Digital (BTBT) announced its third-quarter 2026 financial results, highlighted by a return to positive GAAP net income of $28.5 million ($0.08 per diluted share), compared to a significant loss in the previous quarter. This turnaround was largely driven by realized and unrealized gains on digital assets and intangible assets totaling approximately $16.3 million. The company's revenue for the quarter reached $27.1 million, an 11% decline year-over-year, though colocation services saw explosive growth of 232% compared to Q3 2025. This surge was fueled by the operational capacity at the MTL-3 site and new revenue from WhiteFiber's NC-1 data center campus. While digital asset mining revenue declined as part of a planned business winddown, the company's strategic shift toward AI/HPC infrastructure and Ethereum staking continues to shape its financial profile.