Filing Flows › Bit Digital (BTBT) › Q1 2025
Bit Digital (BTBT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Bit Digital (BTBT) reported revenue of $25.1M for the first quarter 2025 (Q1 2025), -17% from a year earlier and -3% from the quarter before. Operating margin was -208.6%, net loss $57.7M (229.9% of revenue).
Bit Digital, Q1 2025: revenue $25.1M (-17% year over year), operating margin -208.6%, net loss $57.7M, operating cash flow $17.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.1M | -3% | -17% |
| Operating profit | −$52.4M | -284% | — |
| Net earnings | −$57.7M | -299% | — |
| Operating cash flow | $17.4M | +138% | — |
What changed
Revenue was $25.1M in Q1 2025, down 17% year over year and down 3% from the previous quarter. Cloud Services was the largest line at 59% of revenue. Digital Asset Mining lost $14.1M year over year (down 64%), 267% of the total change.
Operating costs exceeded revenue by $52.4M, an operating margin of -208.6%. The quarter ended with a net loss of $57.7M, after a profit of $29.0M the previous quarter.
Operating cash flow was $17.4M. Non-cash charges added back $7.2M of depreciation and amortization and $252K of share-based compensation. Working capital and other items added $67.6M. Capital expenditures of $65.0M exceeded it, leaving free cash flow of −$47.6M.
Questions
What was Bit Digital's revenue in the first quarter 2025?
Bit Digital (BTBT) reported revenue of $25.1M for the first quarter 2025 (Q1 2025), -17% from a year earlier and -3% from the quarter before.
Was Bit Digital profitable in the first quarter 2025?
Operating loss was $52.4M (-208.6% of revenue) and net loss $57.7M.
Source: Bit Digital 10-Q on SEC EDGAR.