Bit Digital stock climbed after the company reported a $107.2 million net loss for the second quarter, breaking from the sell-off that punished rival crypto-linked shares this week. The Nasdaq-listed Ethereum (ETH) treasury and artificial intelligence (AI) infrastructure firm booked $32.1 million in revenue. That marks a 15% gain over the first quarter.
Investors appeared to focus on the operating line rather than the headline loss. The stock added 2.05% to close at $1.49 on Thursday, then gained another 1.34% to $1.51 after hours. Follow us on X to get the latest news as it happens That reaction stood apart from the rest of the week's crypto earnings slate.
Bitdeer slid roughly 20% after its August 10 report, while Forward Industries fell 1.36% after hours despite closing the session higher. The pattern was also observed earlier in other major crypto equities such as Coinbase, MARA Holdings, and CleanSpark. Roughly $86 million of Bit Digital's loss came from non-cash digital asset movements and non-operating items.
That included a $46 million impairment on liquid staked ETH, which the company says was not a realized loss. Bit Digital lost $146.7 million, or $0.45 per diluted share, in the first quarter. This quarter's figure was $0.31 per share.
Meanwhile, the operating businesses grew. Cloud services revenue climbed 42% to $23.8 million at a gross margin near 58%. Group gross profit reached $18.6 million.
Bit Digital held 164,310.5 Ethereum as of June 30. It bought 8,568 ETH for $20 million on May 11 and sold none during the quarter. The company raised $50 million against a portion of that treasury.
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