TREE NEWS reports: Bit Digital (Nasdaq: BTBT) reported third-quarter 2026 results, disclosing holdings of about 163,725.9 ETH as of Sept. 30, valued at roughly $439.4 million. Of that, 74,606.4 ETH was held directly at a fair value of about $200.2 million. The company liquid-staked 73,683 ETH in the quarter, receiving 66,192 LsETH, and sold 1,625 ETH for $3.4 million at an average price of about $2,114.62 per token, with no ETH purchases during the period.
Bit Digital holds ~163,726 ETH, Q3 mining revenue $2M
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AI take
Bit Digital's Q3 disclosure shows a treasury strategy tilting toward yield rather than accumulation: the bulk of its ETH now sits in liquid staking, and the quarter's only ETH flow was a small sale with no purchases. That matters for a mining-turned-treasury name because it ties its balance-sheet profile to staking returns and LsETH liquidity, not just spot ETH. With mining revenue at $2M, the ETH position is clearly the dominant value driver. Whether the company keeps converting ETH into liquid staking tokens, and how LsETH's liquidity develops, is the open question.
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