Crypto
Bit Digital Posts $32.1 Million Q2 Revenue, Net Loss of $107.2 Million
Bit Digital reported Q2 revenue of $32.1 million, up 15% sequentially.
The growth was driven by cloud services, which rose 42% from Q1 to $23.8 million.
The company also outlined a capital-allocation strategy centered on its Ethereum holdings and majority interest in data-center business WhiteFiber.
Net loss attributable to Bit Digital shareholders was $107.2 million, or $0.31 per share, for the quarter.
Chief Financial Officer Erke Huang attributed roughly $86 million of the loss to digital-asset items, derivative revaluation and interest expense rather than operating performance.