Bit Digital Completes Pivot to Ethereum and AI Infrastructure with Bitcoin Mining Phase-Out

In a current report filed with the Securities and Exchange Commission, Bit Digital (NASDAQ: BTBT) outlined a multi-year transformation that culminated in the full divestment of its bitcoin treasury in favor of productive digital infrastructure. The company, led by CEO Sam Tabar, now defines itself as a Strategic Asset Company (SAC) that prioritizes assets generating yield and usage-driven value rather than passive balance-sheet exposure.

The transition involves the scheduled sunsetting of the company's remaining bitcoin mining operations, which currently stand at approximately 1 exahash per second (EH/s). Bit Digital stated it is shifting those resources toward two primary pillars: economic infrastructure through Ethereum staking and AI infrastructure through its majority-owned data center platform, WhiteFiber (WYFI).

As of May 31, 2026, Bit Digital reported owning 162,080 ETH, making it the fourth-largest public holder of the asset. The company is utilizing these holdings to secure the Ethereum network through staking, treating the digital asset as a productive yield-bearing instrument. This move follows a strategic journey that began in 2022 when the company first started scaling its ETH treasury.

Simultaneously, Bit Digital has expanded its footprint in the high-performance computing (HPC) sector. The company maintains a 70.5% equity stake in WhiteFiber, a public AI infrastructure business. This stake consists of 27,043,750 shares with a market value of approximately $755.6 million based on May 31 pricing.

Bit Digital's strategy specifically targets the convergence of blockchain verification and AI intelligence production, claiming that reliable compute infrastructure is becoming a scarce and valuable asset. The company argues that while AI produces intelligence through compute, Ethereum coordinates value and ownership, and both reward active participants over passive holders.

Management indicated that the company intends to use its current position to pursue further strategic acquisitions of Ethereum-based operating businesses. While the company has provided a real-time calculator for its modified Net Asset Value (mNAV) on its website, it cautioned that these figures are non-GAAP metrics and subject to market volatility.