[Bit Digital's Q1 Revenue Drops Nearly 14% to $27.9 Million, Net Loss Approximately $147 Million] According to The Block, Ethereum treasury company Bit Digital released its Q1 financial report, showing total revenue of $27.9 million for the quarter, a 13.6% decline quarter-over-quarter, primarily due to decreases in cloud service revenue, ETH staking income, and digital asset mining revenue. Among these, ETH staking income fell 29.4% quarter-over-quarter to $2.3 million, as the company converted approximately 70,000 ETH into liquid staking to maintain treasury flexibility. The company reported a net loss of $146.7 million for Q1, compared to a net loss of $185.3 million in the previous quarter. As of the end of March, the company held approximately 154,400 ETH, valued at around $327 million, with an average holding cost of $3,045 per ETH. The company continues to reduce its Bitcoin mining exposure, stating that while mining still generates cash flow, it is no longer a strategic growth priority, with capital allocation shifting toward Ethereum and infrastructure-related opportunities.