Bit Digital has announced its complete exit from the Bitcoin mining business

WuSaidBlockchainW · 2026-01-30T01:59:49+00:00

Bit Digital announced its exit from Bitcoin mining in favor of Ethereum and AI infrastructure. The CEO said mining efficiency has decreased, and the company will focus on operational infrastructure. In 2023, Bit Digital AI was launched, and the subsidiary WhiteFiber IPO raised funds and held a large amount of Ethereum.

WuSaidBlockchainW

2026-01-30 01:59:49

Abstract generation in progress

Bit Digital announced its complete exit from the Bitcoin mining business and shifted to Ethereum and AI infrastructure and reserve operations. CEO Sam Tabar said in a shareholder letter on January 29 that mining capital efficiency has decreased, focusing on operability, monetization and complex infrastructure; The company entered mining in 2020 and launched Bit Digital AI in 2023 to diversify HPC. Subsidiary WhiteFiber raised about $160 million in its IPO in August, and Bit Digital held 27 million shares; held 153,500 ETH (worth $428.8 million, mostly pledged) in July; In October, an additional 310.57 million ETH (from $135 million in convertible bonds) was purchased. （The Block）

BTC-6,19%

ETH-7,41%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.