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Benzinga
Benzinga
Business
Akanksha Bakshi

Bit Digital Bets Big On ETH Staking As Mining Plans Fade

Bit Digital Mining Kevin Dede BTBT Bitcoin Ethereum WhiteFiber
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Bit Digital, Inc. (NASDAQ:BTBT) signaled a decisive shift in its business model after a surge in Ethereum (CRYPTO: ETH/USD) staking rewards fueled stronger third-quarter revenue, underscoring the company’s accelerating pivot away from Bitcoin (CRYPTO: BTC/USD) mining and toward building a large, yield-generating ETH treasury.

H.C. Wainwright & Co. analyst Kevin Dede maintains his Buy rating and $7 price forecast on Bit Digital, asserting that the company’s third-quarter 2025 results provide additional support for his positive long-term view of the business.

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