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Bit Digital (BTBT) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Bit Digital (BTBT) Q2 2026 earnings results →
Q2 2026 Revenue up 25% year over year to $32.1M · 348¢ of every $1 of revenue lost · operating margin -257.3%
Bit Digital made $32.1M in Q2 2026 (+25% Y/Y): Cloud services $23.8M, Colocation services $4.7M, Digital asset mining $2.4M. Operating margin -257.3%, net loss $112M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
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What changed this quarter
Revenue was $32.1M in Q2 2026, up 25% year over year and up 15% from the previous quarter. Cloud services was the largest line at 74% of revenue. Cloud services added $7.2M year over year (up 43%), 112% of the total change. Digital asset mining declined 64%.
Operating costs exceeded revenue by $82.6M, an operating margin of -257.3%. Total costs grew 724% against revenue growth of 25%. The quarter ended with a net loss of $111.7M, narrower than the previous quarter's $150.3M loss. Minority interests bore $4.5M of it: to shareholders the quarter was a loss of $107.2M.
Operating cash flow was $47.9M (up 170% year over year). Non-cash charges added back $10.1M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $145.1M. Capital expenditures of $175.5M exceeded it, leaving free cash flow of −$127.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $32.1M | +25% | -257.3% | −$112M | $47.9M |
| Q1 2026 | 10-Q | May 15, 2026 | $27.9M | +11% | -511.8% | −$150M | −$1.1M |
| Q4 2025 | 10-K | Mar 27, 2026 | $32.3M | +25% | -596.8% | −$189M | −$84.1M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $30.5M | +33% | 465.5% | $151M | −$240M |
| Q2 2025 | 10-Q | Aug 14, 2025 | $25.7M | -12% | 45.7% | $14.9M | $17.7M |
| Q1 2025 | 10-Q | May 15, 2025 | $25.1M | -17% | -208.6% | −$57.7M | $17.4M |
| Q4 2024 | 10-K | Mar 14, 2025 | $25.8M | — | 110.5% | $29.0M | $7.3M |
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About Bit Digital
Bit Digital, Inc. (“BTBT” or the “Company” or “We”), is a holding company incorporated on February 17, 2017, under the laws of the Cayman Islands. The Company is a strategic asset company focused on active participation in Ethereum (ETH)-native treasury, staking strategies. Through our majority equity stake in WhiteFiber Inc. (Nasdaq: WYFI), the Company also engages in high performance computing (“HPC”) business, including cloud services and HPC data center services. On August 8, 2025, WhiteFiber completed its initial public offering (“IPO”) of its ordinary shares. Prior to the consummation of the IPO, the Company entered into a contribution agreement (the “Contribution Agreement”) with WhiteFiber, pursuant to which the Company contributed (the “Contribution”) its HPC business through the transfer of 100% of the capital shares of its cloud services subsidiary, WhiteFiber AI, Inc.
In its own words, from its 10-K, filed Mar 27, 2026.
Bit Digital against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +25% against the peers' median +18%. Operating margin: -257.3% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BTBT Bit Digital | Q2 2026 | $32.1M | +25% | -257.3% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: Bit Digital 10-Q on SEC EDGAR · CIK 1710350 · Finance Services
More on BTBT
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results