Publicly-traded cryptocurrency company Bit Digital, Inc. (NASDAQ: BTBT) has announced the complete wind-down of its Bitcoin mining operations. The firm is strategically reallocating its capital and resources to focus on Ethereum and artificial intelligence (AI) infrastructure, marking a significant shift in its business model.
The company revealed it has consolidated its digital asset holdings into Ethereum, viewing it as a "programmable infrastructure with long-term relevance across payments, compute, and capital markets." By the third quarter of 2025, Bit Digital had accumulated 153,546 ETH on its balance sheet, valued at approximately $428.8 million, with the majority staked to generate protocol-native rewards.
CEO Sam Tabar explained the rationale behind exiting Bitcoin mining, stating it was "effective in an earlier business strategy" but over time became "a less efficient use of capital relative to opportunities that allow for active participation." The new strategy emphasizes active participation, yield generation, and operational leverage.
A central pillar of the pivot is Bit Digital's majority ownership stake in AI infrastructure subsidiary WhiteFiber. The company holds approximately 27 million shares and has confirmed it will not sell any of this stake in 2026. WhiteFiber raised nearly $160 million in an initial public offering in August, which Bit Digital states preserved its balance sheet flexibility.
Tabar emphasized the long-term vision, saying, "These decisions repositioned Bit Digital around infrastructure we can operate, monetize, and compound over time." The company first included Ethereum in its strategy in 2022, which transitioned to a central focus in 2025. The move away from mining involved offloading assets, letting contracts expire, and retiring outdated equipment.
