Bit Digital

Bit Digital

Bit Digital (Nasdaq: BTBT) operates as a publicly traded strategic asset company focused on two long-duration infrastructure systems: Ethereum as a programmable settlement layer and AI/HPC as a capacity-constrained compute market. The firm began accumulating and staking ETH in 2022 and now holds approximately 15,289.7 ETH and ETH-equivalents in an externally managed fund (per the firm, April 2026). Its headquarters are in New York, with additional offices in San Francisco, Singapore, Bangalore, and Hong Kong. Bit Digital generates protocol-native yield by staking ETH through institutional-grade custody and third-party providers, and it participates actively in Ethereum network governance. On the AI side, the firm controls a majority equity stake in WhiteFiber (Nasdaq: WYFI), representing approximately 70% of outstanding shares, providing exposure to the capacity-constrained AI compute market. The dual-structure strategy spans two geographies: North America for corporate and AI activities, and Asia for operational support. Revenue is designed to track infrastructure usage rather than relying on asset-price appreciation alone, with a balance-sheet approach that uses $150 million of 4.00% convertible notes due 2030 as part of its capital stack (per the firm, 2026). Bit Digital’s infrastructure model separates it from pure-play crypto miners. The firm does not mine Bitcoin; instead, it accumulates ETH, stakes it, and holds a controlling equity position in WhiteFiber, a dedicated AI/HPC play. The ETH treasury and WYFI equity effectively function as two distinct line items in a single public-company wrapper, with a live NAV calculator on the firm’s website reflecting both components net of convertible debt. As of April 2026, the firm maintained a disclosure posture reinforced by SEC filings and investor presentations. Structurally, the firm stands apart by being a Nasdaq-listed company that operates like a hybrid between a staking pool operator and a holding company for AI infrastructure equity. This eliminates the closed-end fund discount typical of digital-asset trusts and gives institutional allocators intraday liquidity alongside exposure to Ethereum’s staking yield and AI compute capacity — a combination not commonly found in a single tradable equity.