other material
confidence high
sentiment neutral
materiality 0.70
Bit Digital holds $888M in ETH and WYFI; stock at 31% discount to mNAV of $2.74
Bit Digital, Inc
- ETH holdings of 155,277 tokens valued at ~$460.7M, average acquisition cost $3,045, staking yield 3.5% APY.
- 27M WYFI shares (70.4% stake) worth $427.3M, implying 0.35x market NAV multiple.
- Combined mNAV per share $2.74, stock price $1.89 as of Dec 31, 2025.
- AI/HPC infrastructure: ~11 MW online in 2025, targeting ~76 MW by YE 2026, 1.6 GW pipeline.
- Completed conversion to 100% Ethereum treasury; Bitcoin mining activities wound down.