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

Bit Digital Inc (NASDAQ:BTBT), a bitcoin mining company, announced receiving a customer proposal to expand its existing agreement for Bit Digital AI by an additional 2,048 GPUs, bringing the total to 4,096 GPUs. This expansion is expected to help the company reach a $100 million annualized revenue run-rate for its AI business. The company's revenue growth in FY23 was 39.15%, influenced by various factors including the macroeconomic environment. Bit Digital's stock was up 3.95% at $2.36 following the announcement.

Portfolio Pulse from Adam Eckert

March 27, 2024 | 1:16 pm

Bit Digital, Inc. has received a customer proposal to add an additional 2,048 GPUs to their operations. This expansion could significantly enhance their computing power and potentially increase their revenue from mining activities.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:32 pm

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 2:54 pm

HC Wainwright & Co. analyst Kevin Dede has reiterated a Buy rating on Bit Digital (NASDAQ:BTBT) and maintained a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 10:27 am

Bit Digital has filed FormRW with the SEC, requesting the withdrawal of its previously filed registration statement on Form F-3 from February 1, 2022. This withdrawal affects an aggregate of 20,010,813 shares that were under the registration.

Portfolio Pulse from Happy Mohamed

March 19, 2024 | 8:39 pm

In Monday's after-market session, several Information Technology stocks showed significant movement. Alpine 4 Holdings, Rapid7, and HeartCore Enterprises were among the top gainers, with Alpine 4 Holdings leading at a 33.8% increase. On the downside, Peraso experienced the largest drop of 20.9%, followed by Comtech Telecom and X3 Holdings. Notably, Bit Digital and Peraso released their Q4 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 9:33 pm

Bit Digital (NASDAQ:BTBT) reported Q4 earnings with an EPS of $0.12, surpassing the estimated -$0.05 by 340%. Revenue increased by $8.26 million year-over-year. The company's past earnings performance shows a consistent beat on EPS estimates, leading to a share price increase of 7% the day after last quarter's earnings were announced.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 8:55 pm

Bit Digital (NASDAQ:BTBT) reported Q4 earnings of $0.12 per share, surpassing the $(0.05) estimate, marking a 340% beat and a 700% increase from last year's $(0.02) per share loss. Sales reached $16.04M, exceeding the $13.18M estimate by 21.68% and showing a 106.22% increase from last year's $7.78M.

Portfolio Pulse from dijoy@benzinga.com

March 18, 2024 | 8:51 pm

Earnings reports for March 18, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Embraer, Science Applications Intl, and StoneCo are anticipated to report profits, while System1, Exagen, and OneConnect Financial Tech project losses. The diversity in performance highlights the varied economic conditions impacting different industries.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 9:57 am

Bit Digital (NASDAQ:BTBT) is expected to report a Q4 earnings per share (EPS) of $-0.05 on March 18, 2024. Analysts and investors will be looking for an earnings beat and positive guidance for future growth. Historically, Bit Digital has shown the ability to surpass EPS estimates, leading to significant stock price movements. Over the last year, BTBT shares have increased by 62.69%, with the stock trading at $2.1 as of March 14.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 3:01 pm

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