Bit Digital, Inc

Bit Digital, Inc. operates as a bitcoin mining company. The firm focuses on its mining business located globally in Asia, Canada, and the United States. The company was founded in November 2015 and is headquartered in New York, NY.

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Earnings data Q1 2024

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Earnings data Q4 2024

Bit Digital reports stellar Q1 results, eyes expansion and margin growth

Bit Digital's Q1 performance reflects robust growth in revenue and profitability, driven by strong results in both Bitcoin mining and high-performance computing services. The company is strategically positioned to capitalize on opportunities for expansion and margin improvement while navigating challenges related to market volatility and operational efficiency.

Bit Digital posts stellar Q2 results, eyes growth amid challenges

Bit Digital's Q2 performance reflects robust revenue growth and operational efficiency, though profitability was impacted by digital asset valuation losses.
The company's financial strength, strategic partnerships, and focus on high-growth areas position it well for future expansion and value creation.
To capitalize on opportunities and address challenges, Bit Digital aims to optimize profitability, manage digital asset risks, and explore growth avenues.

Bit Digital shifts focus to HPC, reports strong Q3 growth

Bit Digital's Q3 performance reflects strong revenue growth driven by the HPC business, with a focus on operational efficiency and strategic investments.
The company's balance sheet strength and debt-free status provide a solid foundation for future growth and potential debt financing for HPC expansion.
Strategic initiatives such as the Enovum acquisition, scaling HPC operations, and fleet upgrades position Bit Digital for long-term success and market leadership.

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Bit Digital, Inc. engages in the digital asset mining business and Ethereum staking activities. The company was founded in November 2015 and is headquartered in New York, NY.

Analysts at Noble Capital Markets have repeated their ‘Outperform' rating on Bit Digital Inc (NASDAQ:BTBT) after the Bitcoin miner's second quarter earnings impressed and it announced a significant contract win for its new High Performance Computing (HPC) business with cloud gaming firm Boosteroid. “We believe the company's expansion of its [HPC business] provides the company with additional stable cash flow and risk diversification outside of its cryptocurrency mining and staking operations,” the analysts wrote in a note to clients.

Bit Digital's HPC expansion, stabilizing Bitcoin mining conditions drive analyst confidence

Bit Digital, Inc. (NASDAQ:BTBT ) Q2 2024 Earnings Conference Call August 20, 2024 10:00 AM ET Company Participants Cameron Schnier - Head, Investor Relations Sam Tabar - Chief Executive Officer Erke Huang - Chief Financial Officer Conference Call Participants Mike Grondahl - Northland Kevin Dede - H.C. Wainwright & Co. Joe Gomes - Noble Capital Chris Sakai - Singular Research Operator Hello, and welcome to the Bit Digital Second Quarter 2024 Earnings Conference Call.

Bit Digital, Inc. (BTBT) Q2 2024 Earnings Call Transcript

Bit Digital's second-quarter earnings were a mixed bag, with the company reporting a wider loss than expected, but a rosier revenue outlook. However, most investor attention is being placed on the company's high-performance computing division, which has seen significant year-over-year growth.

Why Bit Digital Is Rocketing Higher, Up 17% Today

Bit Digital Inc (NASDAQ:BTBT) saw its second quarter revenue surge 220% year-over-year as it commenced its High Performance Computing (HPC) services business and realized a higher Bitcoin price. Revenue was $29 million, including revenue from Bitcoin mining of $16.1 million, up 80% from the year-ago quarter.

Bit Digital Q2 revenue boosted by new High Performance Computing business

Bit Digital, Inc. (BTBT) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to earnings of $0.02 per share a year ago.

Bit Digital, Inc. (BTBT) Reports Q2 Loss, Tops Revenue Estimates

NEW YORK , Aug. 19, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced today that it has signed a binding term sheet with Boosteroid Inc. ("Boosteroid"), a new customer for its high-performance computing ("HPC") business. Key Highlights Initial Agreement: Upon signing a master service agreement ("MSA"), Boosteroid will place an initial purchase for a starting quantity of GPU servers with a five-year service duration.

Bit Digital, Inc. Announces Binding Term Sheet with New HPC Customer Representing a More Than $700 Million Revenue Opportunity Over Five-Year Term

NEW YORK , Aug. 19, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) (the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York City, today announced its unaudited financial results for the Second Quarter ended June 30, 2024. Financial Highlights for the Second Quarter of 2024 Total revenue was $29.0 million for the Second Quarter of 2024, a 220% increase compared to the Second Quarter of 2023.

Bit Digital, Inc. Announces Second Quarter of Fiscal Year 2024 Financial Results

In the most recent trading session, Bit Digital, Inc. (BTBT) closed at $2.86, indicating a -1.38% shift from the previous trading day.

Bit Digital, Inc. (BTBT) Stock Slides as Market Rises: Facts to Know Before You Trade

NEW YORK , Aug. 12, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced today that it will release its Second Quarter 2024 results on Monday, August 19, 2024, after the stock market closes. Senior management will host a live webcast and conference call to review the results on Tuesday, August 20, 2024, at 10 a.m.

Bit Digital, Inc. Announces Date for Second Quarter 2024 Financial Results and Conference Call

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Is Bit Digital (BTBT) a Buy as Wall Street Analysts Look Optimistic?

Nasdaq-listed bitcoin miner and Ethereum staker Bit Digital Inc (NASDAQ:BTBT) mined 60.5 bitcoin (BTC) in July, marking a 1.9% decrease compared to the previous month. Bit Digital also earned an estimated $4.3 million in unaudited revenue from its initial AI contract.

Bit Digital mines 60.5 bitcoin, earns 47.5 Ethereum in stake rewards in July

NEW YORK , Aug. 6, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of July 2024. Corporate Highlights for July 2024 The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of July 31, 2024.

Bit Digital, Inc. Announces Monthly Production Update for July 2024

Investors need to pay close attention to Bit Digital (BTBT) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Bit Digital (BTBT) Stock?

Bit Digital is a distant underdog in the Bitcoin mining market. But it's expanding into the AI market with its GPU rental services.

Could Bit Digital Become the Next Marathon Digital?

Coinbase

CleanSpark

Riot Blockchain

A fiery speech from firebrand presidential candidate Donald Trump at the Bitcoin 2024 conference in Kentucky over the week led to a strong rally in bitcoin's spot price this Monday. But his rousing pro-bitcoin speech, in which Trump rallied against the Democrats' “anti-crypto crusade” while promising to create a government-owned bitcoin stockpile upon election, also lifted Nasdaq-listed cryptocurrency change Coinbase Global Inc (NASDAQ:COIN)'s valuation.

Trump trade lead to spike in Coinbase, crypto mining stocks

The latest trading day saw Bit Digital, Inc. (BTBT) settling at $3.95, representing a +1.41% change from its previous close.

Bit Digital, Inc. (BTBT) Laps the Stock Market: Here's Why

Analysts have a bullish outlook on Bit Digital Inc (NASDAQ:BTBT) a company noted for its high-performance computing (HPC) contributions, mining expansion, and staked Ethereum flywheel model. HC Wainwright maintains a Buy rating on the stock with a $5 price target, grounded in a 4.3x enterprise value-to-sales ratio and an FY24 sales estimate of $133.4 million.

Bit Digital poised for growth with strategic advancements in AI, Ethereum staking: analysts

Bit Digital, Inc. BTBT, a company engaged in bitcoin mining and various digital asset activities, has recently shown signs of a significant bullish technical pattern known as the ‘Golden Cross .'

Bit Digital Strikes Gold: Bullish Signals Shine Bright For Bitcoin Miner

Bit Digital Inc (NASDAQ:BTBT) earlier this week announced the expansion of its contract with an existing high-performance computing (HPC) customer, increasing the contract's total value to $275 million. CEO Sam Tabar highlighted that the client has doubled the fleet size of GPUs, now contributing approximately $92 million per year, locked in for three years.

Bit Digital shares rise after $275M HPC contract announcement - ICYMI

Bit Digital Inc (NASDAQ:BTBT) announced that it has 256 servers actively generating revenue for its Bit Digital AI Contract, earning an estimated $4.1 million of unaudited revenue from this contract during June. During the month, the company produced 61.7 Bitcoin, down 2.5% from the previous month.

Bit Digital brings in $4.1M in AI contract revenue in June

NEW YORK , July 5, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of June 2024. Corporate Highlights for June 2024 The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of June 30, 2024.

Bit Digital, Inc. Announces Monthly Production Update for June 2024

Bit Digital, Inc. (BTBT) closed at $3.33 in the latest trading session, marking a -1.91% move from the prior day.

Bit Digital, Inc. (BTBT) Stock Falls Amid Market Uptick: What Investors Need to Know

Bit Digital Inc (NASDAQ:BTBT) shares surged more than 37% after the digital assets and AI infrastructure firm announced it has finalized a contract expansion with a major high performance computing (HPC) customer bringing the total contract value to $275 million. The company said under the expanded agreement it will supply the existing customer with an additional 2,048 GPUs over three years.

Bit Digital shares skyrocket on $275M HPC contract expansion

NEW YORK , June 25, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced today that it has finalized an agreement to supply an existing customer with an additional 2,048 GPUs over a three-year term commencing upon deployment. With this agreement, the Company will supply this customer with a total of 4,096 GPUs for the respective three-year periods, amounting to total revenue of approximately $275 million, or $92 million on an annualized basis.

Bit Digital, Inc. Announces Finalized Terms for Contract Expansion with Major HPC Customer; Total Contract Value Now Worth Approximately $275 Million

Bit Digital Inc (NASDAQ:BTBT) told investors that during May it had 256 servers actively generating revenue from its Bit Digital AI Contract, which earned an estimated $4.2 million in unaudited revenue for the month. During May, the Bitcoin miner said it produced 63.3 Bitcoin.

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