How did the company's Ethereum-native treasury and staking strategies perform in terms of yield and asset allocation?

Bit Digital’s Q2 FY‑2025 filing showed that its purely Ethereum‑native treasury continued to out‑perform the broader market. Staking the company’s held ETH generated a net‑of‑fees yield of roughly 5%‑annualized, comfortably above the 3%–4% range most on‑chain validators were reporting at the time. The firm also expanded the weight of those staking assets, moving the Ethereum‑based portion of its balance sheet to about 70% of total digital‑asset holdings, up from roughly 60% in the prior quarter. The incremental allocation was funded by modest purchases of ETH on‑balance‑sheet and the redeployment of under‑utilized Bitcoin‑related capital into the higher‑yielding ETH‑staking pool.

From a trading perspective, the combination of an attractive, relatively stable yield and a deepening exposure to ETH means Bit Digital’s equity is closely tied to the price trajectory of Ethereum. With ETH trading near recent multi‑month highs and the staking yield still above the “risk‑free” rate, the stock’s fundamentals look supportive of a near‑term upside bias—especially if the broader market continues to reward crypto‑exposure through risk‑on flows. Technically, BTBT has been holding above its 50‑day EMA and is testing a rising channel that was established in early‑Q2; a breakout above the $2.30 resistance line could trigger a short‑term rally, while a move back below the 50‑day EMA would suggest a re‑evaluation of the yield‑play thesis. Traders might consider a long‑biased position with a tight stop near the 50‑day EMA to capture upside while protecting against a sudden ETH correction that would compress staking returns.