Bit Digital Q2 Earnings: Revenue Surges, Cloud Services Boom

Bit Digital (BTBT) announced its Q2 2026 earnings on August 13, reporting revenue of $32.1 million, a 15% increase from Q1 2026. The company's H1 revenue reached $60.0 million, an 18% year-over-year growth. Gross margin stood at 57.9%, with a gross profit of $18.6 million in the second quarter.

The cloud services segment saw a 42% sequential increase due to new contracts and expanded agreements, contributing to total segment revenue of $37.3 million for H1. Co-location revenue remained flat at $4.7 million, but with a 63% gross margin. Operating cash flow reached $46.8 million for the first six months, a 33% increase from the prior year period.

Ethereum staking revenue decreased to $900,000, down from $2.3 million in the previous quarter due to collateralizing the WhiteFiber facility. Digital asset mining revenue was $2.4 million, with production of 32.3 bitcoin during Q2. The mining segment margin stood at 26%, reflecting the strategic wind-down of the bitcoin mining business.