Bit Digital Reports Decline in Q1 Revenue Due to Lower Ethereum Staking Rewards

Bit Digital, a cryptocurrency-focused company, has reported a decline in revenue during the first quarter of the year.

The company's Q1 revenue decreased by 14% compared to the same period last year, according to its recent financial statement.

This decline is attributed to lower Ethereum staking rewards, which have had a significant impact on Bit Digital's bottom line.