Bit Digital Announces Strategic Pivot
Bit Digital, a firm known for its involvement in Bitcoin mining, has announced plans to fully exit the mining space and refocus its efforts on Ethereum infrastructure, staking, and high-performance computing (HPC) with an emphasis on AI integration.
Shifting Focus to Ethereum and AI
CEO Sam Tabar stated in a letter to shareholders that Bitcoin mining is no longer the most efficient use of capital in the current market landscape. The company will now consolidate its crypto exposure around Ethereum and expand its AI infrastructure capabilities through its subsidiary WhiteFiber to drive scalable, profitable, and compounding growth.
Phasing Out Mining Operations
Bit Digital entered the Bitcoin mining sector in 2020 and started accumulating and staking ETH around the time of Ethereum’s shift to PoS in 2022. Since 2023, the company has been strategically divesting mining equipment, terminating hosting agreements, and retiring older rigs. By mid-2025, it aims to fully transition to a pure Ethereum treasury and staking-focused model.
- Phased sale of mining rigs
- Termination of hosting contracts
- Full transition to Ethereum staking
- Increased investment in AI infrastructure
WhiteFiber Strengthens AI Positioning
WhiteFiber, Bit Digital's AI subsidiary, completed its IPO last year, and the company currently holds approximately 27 million shares, positioning it for deeper integration into AI-driven infrastructure solutions.