Shares of Nasdaq-listed Bit Digital fell 9.3% in premarket trading on Thursday following the release of its third-quarter financial results, which missed analyst revenue consensus estimates.
The company reported $27.1 million in revenue for the quarter, representing an 11% decrease from the $30.5 million recorded during the same period a year earlier. According to Yahoo Finance, the revenue figure came in nearly 16% below analyst consensus estimates of approximately $32.2 million, resulting in an $5.1 million shortfall.
Despite the revenue miss, Bit Digital reported a net income attributable to shareholders of $28.5 million, or 8 cents per diluted share, according to its Thursday SEC filing.
Revenue segments showed significant declines compared to the previous year. Ether staking revenue dropped roughly 66% to $1 million, down from $2.9 million a year ago. Meanwhile, Bitcoin mining revenue fell to $2 million from $7.4 million.
Bit Digital explained that the decrease in Bitcoin mining revenue was consistent with the ongoing winddown of that business line. The company previously shifted its corporate treasury strategy from Bitcoin to Ether in July 2025.
As of the reporting period, Bit Digital held a total of 163,725 Ether, valued at $439.4 million.
