Bit Digital, Inc. (NASDAQ: BTBT) is a Cayman Islands-incorporated holding company, founded February 17, 2017, focused on Ethereum-native treasury and staking strategies while holding a majority equity stake in WhiteFiber Inc. (NASDAQ: WYFI), a high performance computing business providing cloud services and HPC data center services. Revenue comes from ETH staking yields, liquid staking receipt tokens, and fees earned from GPU-based cloud and data center services through WhiteFiber. Bit Digital held approximately 71.5% of WhiteFiber's issued and outstanding ordinary shares following WhiteFiber's IPO on August 8, 2025, which raised approximately $159.4 million in gross proceeds (plus $23.9 million from full exercise of the underwriters' over-allotment option). WhiteFiber competes in the data center and cloud services markets against Digital Realty, Equinix, NTT, CyrusOne, STACK Infrastructure, Aligned Data Centers, Iron Mountain, CoreWeave, Crusoe Energy, Nebius, and Lambda Labs.

Revenue model

Two primary revenue streams: (1) Ethereum staking yield, earned through native staking with Figment and liquid staking via Portara protocol and Liquid Collective, generating ETH rewards and receipt tokens; (2) GPU-based cloud and HPC data center service fees through majority-owned WhiteFiber, including contracted GPU leasing arrangements such as a Boosteroid agreement projected to generate approximately $7.9 million in aggregate contracted value through November 2029 (as of the FY2025 10-K filed 2026-03-27).

Products and services

Ethereum native staking and liquid staking (via Figment, Portara protocol, and Liquid Collective); GPU cloud computing services powered by NVIDIA B200 and other high-performance GPUs; HPC data center colocation and hosting services; on-demand compute services through a formal agreement with Shadeform; GPU equipment leasing to customers such as Boosteroid.

Customers and end markets

Enterprise customers requiring scalable AI and HPC computing resources, including cloud gaming providers (Boosteroid) and customers deploying GB200 GPU workloads. End markets include AI inference and training, high performance computing, and cloud gaming.

Value-chain role

Bit Digital operates as a holding company sitting above WhiteFiber, which acts as a GPU infrastructure operator and cloud services provider, owning and deploying GPU hardware in data centers across the U.S., Canada, Europe, and Japan, then leasing or providing compute capacity to enterprise end users.

Geographic exposure

WhiteFiber data centers are located in Canada, with GPU deployments across the U.S. and Europe. WhiteFiber also has subsidiaries in Japan (WhiteFiber Japan G.K.) and Iceland (WhiteFiber Iceland, ehf), per the FY2025 10-K filed 2026-03-27.

Competitors

Digital Realty, Equinix, NTT, CyrusOne, STACK Infrastructure, Aligned Data Centers, Iron Mountain, CoreWeave, Crusoe Energy, Nebius, Lambda Labs

Source: SEC 10-K, filed 2026-03-27

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