Streetbeat News

BTBT

Bit Digital, Inc.

https://bit-digital.com

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

Bit Digital (NYSE:BTBT) has seen a 14.44% increase in its short percent of float, now at 19.1%. This indicates a bearish sentiment among investors, as it has more short interest compared to its peers. It would take traders 1.52 days to cover their short positions.

Portfolio Pulse from Benzinga Insights

July 23, 2024 | 8:15 pm

Shares of crypto-linked stocks are trading lower amid a drop in the price of Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:35 pm

Shares of crypto-linked stocks are trading higher after Bitcoin rose above $62,000.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 10:20 am

Bit Digital, Inc. (NASDAQ:BTBT) reported a 2.5% decrease in BTC production for June 2024, producing 61.7 BTC. The company generated $4.1 million in revenue from its initial AI contract and had significant digital asset holdings and liquidity.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

Shares of crypto-linked stocks are trading lower amid weakness in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

HC Wainwright & Co. analyst Kevin Dede maintains a Buy rating on Bit Digital (NASDAQ:BTBT) and raises the price target from $5 to $6.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 10:30 am

BitDigital, Inc. (NASDAQ:BTBT) shares surged 41% after the company announced a $275 million contract expansion to supply 2,048 Nvidia GPUs over three years. The deal is expected to significantly boost BitDigital's revenue, with deliveries starting in July.

Portfolio Pulse from Dylan Berman

June 25, 2024 | 5:20 pm

Bit Digital shares are trading higher after finalizing an agreement to supply an existing customer with an additional 2,048 GPUs over a three-year term. The stock is also benefiting from a rebound in crypto stocks.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:55 pm

Bit Digital has finalized an agreement to supply an existing customer with an additional 2,048 GPUs over a three-year term, totaling 4,096 GPUs and generating approximately $275 million in revenue. The company has placed a purchase order for 256 servers from Dell Technologies, equipped with Nvidia HGX H100 GPUs, to be delivered in July 2024. Bit Digital is also evaluating debt financing options for its hardware assets.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 12:09 pm

Bit Digital reported a 47% decrease in Bitcoin production for May, producing 63.3 BTC. The decline is attributed to the reduction of bitcoin block rewards following the April halving event and voluntary curtailment activity. The company's active hash rate was approximately 2.54 EH/s as of May 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:34 pm

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