Why Wall Street Won’t Pay $1 for this Stock Despite Its $439 Million in Ethereum

Bit Digital returned to profit in the third quarter, earning $28.5 million. Its stock still closed at $0.79 on Wednesday, valuing the company at under $290 million despite $439 million in Ethereum (ETH). Across roughly 360 million shares, each one sits on about $1.22 of ETH alone. Yet the stock slipped another 6% before Thursday’s open, Yahoo Finance data shows. Why Is Bit Digital Stock Worth Less Than Its Ethereum? Crypto value swings and one-off items made up $16.3 million of the New York company’s profit. Revenue fell 11% to $27.1 million. It also owns 59.7% of WhiteFiber, a Nasdaq-listed AI data center firm, valued at $487 million on Sept. 30. However, WhiteFiber traded near $10 in late October, down from $18.01 at quarter end, per StockAnalysis data .

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