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.

Earnings data Q4 2020

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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.

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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.

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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

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Wall Street Analysts Think Bit Digital (BTBT) Is a Good Investment: Is It?

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.

Bit Digital achieves $4.2M in AI contract revenue in May

NEW YORK , June 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 May 2024. Corporate Highlights for May 2024 The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of May 31, 2024.

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

2024 has had its ups and downs for the world's bitcoin miners. For anyone even partially up to date on the bitcoin news cycle, the ups won't come as a surprise.

Bit Digital: AI more than just a buzzword for this bitcoin miner

Bit Digital Inc (NASDAQ:BTBT) saw a surge in revenue for the first quarter driven by a rising Bitcoin price and its new high performance computing (HPC) services business. Revenue jumped 266% from the year-ago quarter to $30.3 million, including a 166% increase in Bitcoin mining revenue to $21.9 million and $8.1 million in revenue from its HPC business.

Bit Digital CEO talks ‘banner' Q1 results, expansion of high performance computing business

Bit Digital, Inc. (NASDAQ:BTBT ) Q1 2024 Earnings Conference Call May 16, 2024 10:00 AM ET Company Participants Cameron Schnier - Head of IR Sam Tabar - CEO Erke Huang - CFO Conference Call Participants Mike Grondahl - Northland Securities Joe Gomes - Noble Capital Markets Kevin Dede - H.C. Wainwright Operator Hello and welcome to the Bit Digital First Quarter 2024 Earnings Conference Call.

Bit Digital, Inc. (BTBT) Q1 2024 Earnings Call Transcript

Bit Digital Inc (NASDAQ:BTBT) has reported a spike in revenue and earnings over the first quarter thanks to an increase in the price of bitcoin and its new artificial intelligence business. Revenue soared 266% to US$30.3 million over the first three months of the year, the digital asset and AI infrastructure firm said on Wednesday.

Bit Digital's earnings spike on higher bitcoin price, new AI wing

NEW YORK , May 15, 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 First Quarter ended March 31, 2024. Financial Highlights for the First Quarter of 2024                Total revenue was $30.3 million for the First Quarter of 2024, a 266% increase compared to the First Quarter of 2023.

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

Bit Digital (BTBT) is expected to record top and bottom-line growth when it reports first-quarter 2024 results.

Bit Digital (BTBT) Set to Report Q1 Earnings: What's in Store?

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Following a broader market rally, Bitcoin ( BTC-USD ) rebounded to the $65,000 mark. The resurgence could be linked to the softer-than-anticipated jobs report, with experts expecting at least a couple of interest rate cuts this year.

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Bit Digital, Inc. (BTBT) concluded the recent trading session at $2.17, signifying no movement from its prior day's close.

Bit Digital, Inc. (BTBT) Trades Flat On The Day: What You Should Know

NEW YORK , May 8, 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 First Quarter 2024 results on Wednesday, May 15, 2024, after the stock market closes. Senior management will host a live webcast and conference call to review the results on Thursday, May 16, 2024, at 10 a.m.

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

NEW YORK , May 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 April 2024. Corporate Highlights for April 2024 In April 2024, the Company produced 119.3 BTC, a 12.5% decrease compared to the prior month.

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

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Bitcoin miners are facing a significant change to their overall business models given that the halving has slashed their mining rewards in half. To make up any revenue shortfall, smaller Bitcoin miners appear to be exploring a move into AI computing.

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In the most recent trading session, Bit Digital, Inc. (BTBT) closed at $2.01, indicating a -1.23% shift from the previous trading day.

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