Streetbeat News

BTBT

Bit Digital, Inc.

Industry

Financial - Capital Markets

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020. Bit Digital, Inc. was incorporated in 2017 and is headquartered in New York, New York.

Open

4.18

Mkt cap

634M

Volume

18M

High

4.42

P/E Ratio

20.43

52-wk high

5.27

Low

4.06

Div yield

N/A

52-wk low

1.76

Shares of Bit Digital, Inc. (NASDAQ:BTBT) are surging in premarket trading after the company announced plans to double its Bitcoin mining operations to approximately 6.0 EH/s by 2024. Bit Digital produced 142.7 BTC in the last month, a 24% increase from the previous month, and earned 44.93 ETH in staking rewards. The company has started receiving servers equipped with NVIDIA Corporation's (NASDAQ:NVDA) HGX H100 GPUs from Super Micro Computer, Inc. (NASDAQ:SMCI), with more expected to be deployed in Iceland by January 2024. Bit Digital also anticipates $35-37 million in revenue from its first AI business customer in 2024. The company's Q3 2023 revenue was $11.6 million, mainly from Bitcoin mining. BTBT shares rose 5% to $4.410 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 27, 2023 | 12:57 pm

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares surged 34.8% in pre-market trading after the FDA approved UDENYCA ONBODY for pegfilgrastim-cbqv. Other stocks showing pre-market gains include Burford Capital Limited (NYSE:BUR), TeraWulf Inc. (NASDAQ:WULF), Bitfarms Ltd. (NASDAQ:BITF), Bit Digital, Inc. (NASDAQ:BTBT), HIVE Digital Technologies Ltd. (NASDAQ:HIVE), Cipher Mining Inc. (NASDAQ:CIFR), and Altimmune, Inc. (NASDAQ:ALT). U.S. stock futures were slightly lower, with Dow Jones futures down about 5 points.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 11:08 am

Bit Digital, Inc. (NASDAQ:BTBT) has announced plans to double the size of its Bitcoin mining fleet to approximately 6.0 EH/s by 2024. The company, which focuses on sustainable digital assets and AI infrastructure, aims to expand its operations significantly within the next year.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:02 pm

Marathon Digital (NASDAQ:MARA) has seen a significant rally of 622.8% in 2023, attributed to acquisitions of mining sites and optimism in the crypto industry. The company plans to add 390 megawatts to its current 584-megawatt capacity, with the transaction expected to close in Q1 of 2024. Other crypto miners like Riot Platforms, HIVE Digital Technologies, Bitfarms, and Bit Digital also reported substantial gains. Needham maintains a Hold rating on MARA but raised its 2024 revenue and EBITDA estimates. MARA's net income swung to $64.1 million in Q3, with revenues increasing sevenfold to $97.8 million, driven by a 467% increase in Bitcoin production and higher Bitcoin prices.

Portfolio Pulse from Khyathi Dalal

December 21, 2023 | 9:39 pm

Bit Digital Inc (NASDAQ:BTBT) shares are up after the company announced the receipt of new AI servers equipped with Nvidia Corp (NASDAQ:NVDA) HGX H100 GPUs. The company has received 89 servers and expects another 103 by early January. These servers will be shipped to Iceland by the end of the month. Bit Digital also amended an agreement for a three-month prepayment from a customer. The stock rise may also be influenced by an increase in Bitcoin prices, which are up over 160% since the start of the year.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 3:30 pm

Bit Digital's stock price has increased following the announcement that the company has received a new batch of artificial intelligence servers.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 3:29 pm

Bit Digital has received an initial batch of servers equipped with Nvidia HGX H100 GPUs from Super Micro Computer. The company expects the remaining 103 servers by the first week of January 2024 and plans to deploy them in Iceland in January 2024. Additionally, Bit Digital has amended its agreement to include a three-month prepayment from its customer.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:07 pm

Bit Digital reports no adverse impact on its operations in Iceland due to the recent volcano eruption on the Reykjanes Peninsula. The company is monitoring the situation but currently does not expect any material impact on its bitcoin mining or AI infrastructure business in the country.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:02 pm

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:45 pm

In Tuesday's pre-market session, several information technology stocks showed significant movement. Peraso (PRSO) led the gainers with a 37.8% increase, while Oracle (ORCL) experienced the largest drop among the losers, falling 9.1% after their Q2 earnings report. Other notable gainers included Mobilicom (MOB), Bit Digital (BTBT), Argo Blockchain (ARBK), TeraWulf (WULF), and Edgio (EGIO). Among the losers were SilverSun Technologies (SSNT), Minim (MINM), Inuvo (INUV), Cyngn (CYN), and VerifyMe (VRME).

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 1:07 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.