Bit Digital’s Ethereum holdings reach $439M as Q3 profit rebounds

Bit Digital has reported a third-quarter profit of $28.5 million while holding approximately 163,726 ETH worth $439.4 million at the end of September, as the company continues moving away from Bitcoin mining. Bit Digital reported 163,725.9 ETH and ETH-equivalent assets valued at $439.4 million on September 30. Third-quarter net income reached $28.5 million, reversing the company's $107.2 million second-quarter net loss. Bit Digital sold 1,625 ETH during the quarter but made no additional Ethereum purchases. WhiteFiber colocation revenue increased 232% annually, while Bit Digital reduced its Bitcoin mining operations. CEO Sam Tabar said share repurchases remain under consideration but would require shareholder approval first. According to its November 12 earnings release, the Nasdaq-listed company recorded $27.1 million in revenue, down 11% from $30.5 million a year earlier.

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