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TLDR Bit Digital is fully winding down its Bitcoin mining operations to focus on Ethereum and AI infrastructure. The company has consolidated its digital assetsTLDR Bit Digital is fully winding down its Bitcoin mining operations to focus on Ethereum and AI infrastructure. The company has consolidated its digital assets

Bit Digital Fully Exits Bitcoin Mining to Focus on Ethereum, AI Growth

Author: CoincentralSource: Coincentral
2026/01/30 22:57

TLDR

  • Bit Digital is fully winding down its Bitcoin mining operations to focus on Ethereum and AI infrastructure.
  • The company has consolidated its digital assets into Ethereum and is prioritizing Ethereum staking and accumulation.
  • CEO Sam Tabar stated that Bitcoin mining became less efficient over time compared to other investment opportunities.
  • Bit Digital holds 153,546 ETH, valued at $428.8 million, most of which is staked for long-term growth.
  • The company owns a majority stake in WhiteFiber, an AI infrastructure subsidiary that raised nearly $160 million in an IPO.

Bit Digital, a crypto mining company backed by Brock Pierce, has decided to wind down its Bitcoin mining operations. The company is shifting its focus towards Ethereum and AI infrastructure strategies. This decision aligns with Bit Digital’s goal to transition into a more sustainable and scalable business model.

CEO Sam Tabar explained that the company no longer views Bitcoin mining as an efficient use of capital. The move comes as Bit Digital consolidates its digital assets and focuses on generating returns through Ethereum and AI-related projects.

Bit Digital Shifts Away from Bitcoin Mining

Bit Digital entered the Bitcoin mining space in 2020, with operations based in both China and the U.S. The company briefly mined Ethereum in 2022 before Ethereum’s shift to proof-of-stake.

CEO Sam Tabar highlighted that Bitcoin mining was effective in the company’s earlier business strategy. However, the market has changed, and mining has become less efficient compared to other opportunities.

Tabar stated that the firm is now focusing on strategies that allow active participation, yield generation, and operational leverage. “Mining was effective in an earlier business strategy, but over time it became a less efficient use of capital,” he said in a letter to shareholders.

Bit Digital Embraces Ethereum and AI Infrastructure

As part of its strategic shift, Bit Digital is investing heavily in Ethereum and AI-related projects. The company has consolidated its digital asset exposure into Ethereum, with a primary focus on Ethereum staking and accumulation.

Bit Digital owns 153,546 ETH, valued at $428.8 million, most of which is staked. The company also holds a majority stake in WhiteFiber, an AI infrastructure subsidiary. In August, WhiteFiber raised nearly $160 million in an initial public offering, with Bit Digital owning approximately 27 million shares.

CEO Tabar emphasized that WhiteFiber is a key strategic asset for the company. “WhiteFiber represents our long-term exposure to intelligence infrastructure,” Tabar wrote, reinforcing the firm’s commitment to AI and Ethereum as the foundation of its future operations.

Expansion into AI and HPC Operations

Bit Digital has been proactive in diversifying its portfolio by expanding into high-performance computing (HPC) with the launch of Bit Digital AI. This move positions the company ahead of the sector-wide shift towards AI and HPC.

Tabar mentioned that the company plans to increase its AI and HPC exposure through subsidiaries and partnerships. These steps highlight Bit Digital’s transformation into a player in AI infrastructure, marking a departure from its mining roots.

Brock Pierce, co-founder of Tether, has been an investor in Bit Digital for some time. He bought $1 million worth of Bit Digital shares and later joined the company’s board in 2021. Pierce’s investment firm, Percival Services, continues to back the company’s transition.

The post Bit Digital Fully Exits Bitcoin Mining to Focus on Ethereum, AI Growth appeared first on CoinCentral.

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