Bit DigitalBTBT
BTBT
About: Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries.. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. It generates revenue from digital asset mining and ETH staking business.
Employees: 24
0
Funds holding %
of 6,831 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
62% more repeat investments, than reductions
Existing positions increased: 42 | Existing positions reduced: 26
53% more first-time investments, than exits
New positions opened: 26 | Existing positions closed: 17
27% more call options, than puts
Call options by funds: $14.1M | Put options by funds: $11.1M
8% more capital invested
Capital invested by funds: $178M [Q2] → $191M (+$13.5M) [Q3]
8% more funds holding
Funds holding: 106 [Q2] → 114 (+8) [Q3]
6.84% less ownership
Funds ownership: 46.19% [Q2] → 39.34% (-6.84%) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$6
90%
upside
Avg. target
$6.50
106%
upside
High target
$7
122%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
Craig-Hallum George Sutton 55% 1-year accuracy 17 / 31 met price target | 90%upside $6 | Buy Initiated | 21 Jan 2025 |
HC Wainwright & Co. Kevin Dede 52% 1-year accuracy 31 / 60 met price target | 122%upside $7 | Buy Reiterated | 19 Nov 2024 |
Financial journalist opinion
Based on 9 articles about BTBT published over the past 30 days
Positive
Seeking Alpha
5 days ago
Bit Digital Is A Buy On DeepSeek Weakness
Bit Digital (BTBT) is near key support at $2.90, presenting a potential buying opportunity despite recent tech stock declines. The company's transition from Bitcoin mining to scalable computing models offers better margins and predictable results, along with rapid revenue growth. Bit Digital's strong balance sheet, with significant liquidity and no debt, supports its ambitious expansion plans in the data center business.
Positive
Proactive Investors
6 days ago
Bit Digital strengthens anchor HPC client relationship with new GPU agreement
Bit Digital Inc (NASDAQ:BTBT) has returned a repeat ‘Outperform' rating from Noble Capital Markets analysts after it announced a new agreement with its anchor customer in the GPU cloud part of its HPC business. The analysts see the new agreement as representing an expanded relationship between Bit Digital and its anchor client.
Neutral
Proactive Investors
1 week ago
Bit Digital strengthens GPU cloud business with new customer agreement
Bit Digital Inc (NASDAQ:BTBT) has entered into a new agreement with a key customer to provide 464 Nvidia B200 GPUs. The arrangement replaces a previous agreement for 2,048 H100 GPUs, and the company said it remains in discussions with the customer regarding additional GPU contracts for 2025.
Neutral
PRNewsWire
1 week ago
Bit Digital, Inc. Secures New B200 GPU Contract with Key Customer
NEW YORK , Jan. 24, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a global platform for high-performance computing ("HPC") infrastructure and digital asset production headquartered in New York, today announced a new agreement with a key customer for 464 Nvidia B200 GPUs, expanding its GPU Cloud business. This new agreement replaces a prior agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs and the Company continues to explore additional GPU contracts with this customer for 2025.
Negative
Zacks Investment Research
1 week ago
Bit Digital, Inc. (BTBT) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the most recent trading session, Bit Digital, Inc. (BTBT) closed at $3.70, indicating a +0.54% shift from the previous trading day.
Positive
Proactive Investors
3 weeks ago
Bit Digital achieves strong GPU cloud revenue, expands data center footprint in December
Bit Digital Inc (NASDAQ:BTBT), which offers high-performance computing (HPC) infrastructure and digital asset production, has reported strong results for December 2024, including strong GPU Cloud revenue and progress in expanding its HPC data center footprint. The company said it had 266 servers, comprising 2,128 GPUs, actively generating revenue from its Bit Digital AI contracts.
Neutral
PRNewsWire
3 weeks ago
Bit Digital, Inc. Announces Monthly Production Update for December 2024
NEW YORK , Jan. 8, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a global platform for high-performance computing ("HPC") infrastructure and digital asset production headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of December 2024. Corporate Highlights for December 2024 The Company had 266 servers (2,128 GPUs) actively generating revenue from its Bit Digital AI contracts, as of December 31, 2024.
Positive
Proactive Investors
3 weeks ago
Bit Digital completes transition to domestic issuer status in the US
Bit Digital Inc (NASDAQ:BTBT) announced that it has transitioned to domestic issuer status from foreign private issuer status under US securities regulations. The company, a global leader in high-performance computing (HPC) infrastructure and digital asset production, said the transition marks a significant step in its growth trajectory, streamlining its regulatory compliance framework while reinforcing its commitment to shareholder trust.
Neutral
PRNewsWire
3 weeks ago
Bit Digital, Inc. Completes Transition from Foreign Private Issuer Status to Domestic Filer Status
NEW YORK , Jan. 6, 2025 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a global platform for high-performance computing ("HPC") infrastructure and digital asset production headquartered in New York, announced today that as of January 1, 2025, it officially transitioned to domestic issuer status under U.S. securities regulations. The change reflects the Company's commitment to transparency, operational growth, U.S. market expectations, and streamlines its regulatory compliance framework.
Positive
Proactive Investors
1 month ago
Bit Digital's prioritization of high-quality revenue opportunities praised by analysts
Bit Digital Inc (NASDAQ:BTBT) has earned a repeat ‘Outperform' rating from analysts at Noble Capital Markets after the firm earlier this week announced the execution of a Master Services Agreement (MSA) with an AI Compute Fund managed by NDA Holdings Venture. The two-year contract provides for 576 Nvidia H200 GPUs, representing a total revenue opportunity of $20.2 million.
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