Bit Digital earnings date
Bit Digital (BTBTN) Q3 2026 Earnings Report
MX:BTBTN Q3 2026 EPS Results
- Actual EPS
- MXN 1.49
- Consensus EPS
- -MXN 0.89
- Beat/Miss
- Beat by +MXN 2.38
- One Year Ago EPS
- MXN 8.74
MX:BTBTN Q3 2026 Revenue Results
- Actual Revenue
- MXN 503.77M
- Expected Revenue
- MXN 598.78M
- Beat/Miss
- Missed by -MXN 95.01M
- YoY Revenue Growth
- -11.04%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/12/2026
- Time
- Before Open
- Conference Call
- Thursday, November 12, 2026
Bit Digital's next earnings date is estimated for April 9, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was generally positive, supported by the substantial shift toward cloud, colocation and staking, strong colocation growth, full operation of WhiteFiber's 40-megawatt NC-1 capacity, significant contracted revenue and continued strategic investment in Ethereum and AI infrastructure. However, quarterly revenue and cloud services declined, Bitcoin mining continued to contract, the company disclosed meaningful non-cash and financing expenses, and the 39% NAV discount and unresolved share repurchase authorization remain challenges.
Management said WhiteFiber’s full 40 megawatts of contracted revenue at NC-1 is operational and connected to an $865 million contract over 10 years; remaining performance obligations totaled $729 million, with the company expecting to recognize a $13.5 million in the remainder of 2026, approximately $235 million in 2027, and approximately $207 million in 2028, with the remaining balance thereafter, while noting these figures exclude lease arrangements and certain other contracts and variable considerations and are not a consolidated revenue forecast. WhiteFiber’s $300 million secured credit facility is expected to be funded later this month, and the $100 million bridge facility is expected to be repaid in the second quarter of next year under a 1.1 MOIC mechanism for 180 days; the bridge loan carries interest of 9.5% annualized, while Galaxy borrowing has a reported rate of 5.5% annualized. Management said it may sell down WhiteFiber shares next year in a very measured manner, with no specific number or formula.
- Business Mix Shift Toward Cloud, Colocation and StakingCloud, colocation and Ethereum staking accounted for about 91% of consolidated revenue in the third quarter, compared with about 74% a year earlier, reflecting the company's deliberate shift away from Bitcoin mining.
- WhiteFiber NC-1 Reaches Full Contracted CapacityWhiteFiber's NC-1 facility began contributing revenue from its first 20-megawatt data hall in August, and the full 40 megawatts of contracted revenue is now operational and billing. The capacity is tied to an $865 million contract over 10 years.
- WhiteFiber Financing and ExpansionWhiteFiber closed a $300 million secured credit facility expected to be funded later in November, supporting repayment of Bit Digital's bridge loan. After quarter end, WhiteFiber also completed the acquisition of the NC-2 and NC-3 sites in Yadkin County, North Carolina, with additional development opportunities.
- Colocation Revenue GrowthColocation revenue increased to $5.4 million from $4.7 million in the second quarter and $1.7 million a year earlier, representing approximately 14.9% sequential growth and 217.6% year-over-year growth. The increase reflected MTL-3 and the initial NC-1 contribution.
- Ethereum Treasury and Staking RewardsBit Digital owned approximately 163,726 ETH and ETH equivalents at the end of September. Native staking generated approximately 474 ETH in third-quarter rewards at an average annualized yield of about 3.4%, while 9-month 2026 native staking rewards totaled 1,863 ETH.
- Ethereum Staking Revenue IncreasedNative staking revenue was $1.0 million, up from $903,000 in the second quarter, an increase of approximately 10.7%. ETH earned from staking increased to 474 from 440 in the prior quarter, or approximately 7.7%.
- Bridge Financing Supports WhiteFiberBit Digital used liquid-staked ETH as collateral to borrow U.S. dollars from Galaxy at a reported 5.5% annualized rate and advanced the funds to WhiteFiber through a bridge loan carrying 9.5% annualized interest and a 1.1 MOIC feature. The facility was expected to be repaid in the second quarter of next year and stood at $100 million outstanding after the additional drawdown.
- Nine-Month Revenue and Operating Cash FlowRevenue for the first nine months was $87.1 million, up 7% year-over-year. Nine-month operating cash flow was $163 million, supported materially by customer advance payments.
- Strong Digital Asset and Valuation GainsThe company recorded $84 million of gains on digital assets, $5.4 million of gains from transfers of liquid staking tokens into collateral arrangements, a $10.7 million gain from remeasurement of the convertible-note derivative liability, and $17.1 million of unrealized gains on digital assets held through a third-party fund.
- Substantial Contracted Revenue ObligationsRemaining performance obligations under ASC 606 totaled $729 million at quarter end, including expected recognition of $13.5 million during the remainder of 2026, approximately $235 million in 2027 and approximately $207 million in 2028. Management clarified that these figures are not a consolidated revenue forecast.
- Liquidity and Treasury ResourcesBit Digital held $143.5 million of consolidated cash and cash equivalents at quarter end, along with 74,606 ETH held directly at an approximate fair value of $200 million, 47,192 ETH staking tokens valued at approximately $98 million, and a digital asset collateral receivable carried at $37.1 million.
- Additional Capital Raised Through ATM ProgramIn July, Bit Digital raised $11.6 million net through its at-the-market program by issuing approximately 6.9 million shares at an average price of $1.71 per share. Proceeds were used for working capital purposes.
- WhiteFiber Provides an Operating AI Infrastructure BusinessManagement emphasized that Bit Digital holds a controlling majority stake in WhiteFiber, an operating AI infrastructure business generating revenue today. WhiteFiber's signed customer contracts and fully operational 40-megawatt NC-1 facility were cited as sources of further growth.
- Potential Capital Allocation LeversManagement identified four potential levers to improve shareholder value: greater recognition of WhiteFiber's value, appreciation in Ethereum, a measured potential sale of WhiteFiber shares to fund Bit Digital share repurchases, and an alpha-oriented business being developed in-house. Management stated that Bit Digital currently has no liquidity concerns on its own side.
- Ethereum and AI Infrastructure OpportunitiesManagement continued to view Ethereum as a foundation for programmable financial infrastructure and cited stablecoins, tokenized funds and the Ethereum Foundation's zkAPI example as longer-term use cases. Management stated that the Ethereum-AI connection is part of a longer-term investment case rather than a near-term revenue assumption.
- Treasury Management StrategyManagement said it prefers to keep ETH 100% in native staking unless better opportunities arise, such as the WhiteFiber bridge. Less than 10% is managed through third-party funds generating risk-adjusted returns of 3% to 5% and above, compared with approximately 2.2% for native staking.
MX:BTBTN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Apr 09, 2027 | 2026 (Q4) | -0.52- | -8.37 | ― | ― |
| Nov 12, 2026 | 2026 (Q3) | -0.891.49 | 8.74 | -82.98% (-7.25) | |
| Aug 13, 2026 | 2026 (Q2) | -0.84-5.76 | 1.3 | -542.86% (-7.06) | |
| May 14, 2026 | 2026 (Q1) | ―- | -5.95 | ― | |
| Mar 31, 2026 | 2025 (Q4) | -0.74-8.37 | -5.95 | -40.63% (-2.42) | |
| Nov 14, 2025 | 2025 (Q3) | ―8.74 | -4.83 | 280.77% (+13.57) | |
| Aug 14, 2025 | 2025 (Q2) | -0.411.30 | -1.67 | 177.78% (+2.97) | |
| May 15, 2025 | 2025 (Q1) | -0.89-5.95 | 7.99 | -174.42% (-13.94) | |
| Mar 14, 2025 | 2024 (Q4) | -0.872.04 | 2.23 | -8.33% (-0.19) | |
| Nov 18, 2024 | 2024 (Q3) | -0.43-4.83 | -0.56 | -766.67% (-4.28) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
