Bit Digital (BTBT) Investor presentation summary

Strategic positioning and business model

• Focuses on deploying capital into productive digital infrastructure, emphasizing Ethereum and AI compute assets.

• Operates as a Strategic Asset Company (SAC), integrating infrastructure assets into real-world operating models for durable, usage-driven value.

• Treats Ethereum as productive economic infrastructure, generating yield through staking and network participation.

• Majority equity ownership in WhiteFiber, providing scalable AI and HPC data center infrastructure.

• Built for long-term relevance, prioritizing compounding value over short-term cycles.

Financial highlights and asset overview

• Held 155,227.3 ETH valued at ~$460.5M and ~27.0M WYFI shares valued at $427.3M as of December 31, 2025.

• Combined asset value reached $888.0M, with a market net asset value (mNAV) per share of $2.74.

• BTBT share price traded at $1.89, representing a 31% discount to mNAV.

• Implied value of WYFI holding was $151.3M, significantly below its market value, suggesting $276.0M potential upside.

• GAAP assets and liabilities as of September 30, 2025, were $1,113.1M and $87.1M, respectively.

Ethereum infrastructure and strategy

• Maintains one of the largest ETH treasuries among public companies, with 138,263 ETH staked as of December 31, 2025.

• Achieved 3.5% annual yield from staking, with 644.3 ETH in rewards for Q3 2025.

• Utilizes institutional-grade validator infrastructure and enterprise custody partnerships for security.

• Multi-year operational track record in ETH staking, with public company transparency and governance.

• Strategic focus on compounding ETH-per-share through opportunistic acquisitions and capital deployment.