The Block reported that Nasdaq-listed company Bit Digital (BTBT), which is heavily invested in Ethereum (ETH), recorded first-quarter revenue of $27.9 million this year, a 13.6% decrease from the previous quarter. ETH staking revenue decreased by 29.4% to $2.3 million, cryptocurrency mining revenue fell by 32.9% to $3.7 million, and cloud service revenue also decreased by 13.1% to $16.8 million. Net loss was $146.7 million, affected by cryptocurrency impairment losses. Bit Digital staked approximately 70,000 ETH during the quarter and held approximately 154,444 ETH ($327 million) as of the end of March.
