Bit Digital
BTBT

$3.64

4.53%

Market Cap: 440M

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 6,702 funds

0

Analysts bullish %

of 5 analysts

0

News positive %

of 7 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

135% more call options, than puts

Call options by funds: $8.26M | Put options by funds: $3.51M

44% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 16

7% more funds holding

Funds holding: 99 [Q4 2023] → 106 (+7) [Q1 2024]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q4 2023] → 1 (+0) [Q1 2024]

8.78% less ownership

Funds ownership: 43.65% [Q4 2023] → 34.88% (-8.78%) [Q1 2024]

17% less repeat investments, than reductions

Existing positions increased: 29 | Existing positions reduced: 35

26% less capital invested

Capital invested by funds: $159M [Q4 2023] → $117M (-$41.9M) [Q1 2024]

See Fund Rankings

Research analyst outlook

5 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$5

37%

upside

Avg. target

$5.60

54%

upside

High target

$6

65%

upside

5 analyst ratings

5 positive

100%

0 neutral

0%

0 negative

0%

HC Wainwright & Co. Kevin Dede	65%upside $6	Buy Reiterated	12 Jul 2024
HC Wainwright & Co. Kevin Dede	65%upside $6	Buy Maintained	1 Jul 2024
HC Wainwright & Co. Kevin Dede	37%upside $5	Buy Reiterated	17 May 2024
HC Wainwright & Co. Kevin Dede	37%upside $5	Buy Reiterated	20 Mar 2024
Northland Capital Markets Mike Grondahl	65%upside $6	Outperform Initiated	13 Feb 2024

See Analyst Rankings

Financial journalist opinion

Based on 7 articles about BTBT published over the past 30 days

Zacks Investment Research

Bit Digital, Inc. (BTBT) Laps the Stock Market: Here's Why

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

Proactive Investors

Bit Digital poised for growth with strategic advancements in AI, Ethereum staking: analysts

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

Zacks Investment Research

Bit Digital, Inc. (BTBT) Is a Trending Stock: Facts to Know Before Betting on It

Bit Digital (BTBT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Bit Digital, Inc. (BTBT) Is a Trending Stock: Facts to Know Before Betting on It

Bit Digital Strikes Gold: Bullish Signals Shine Bright For Bitcoin Miner

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

Proactive Investors

Bit Digital shares rise after $275M HPC contract announcement - ICYMI

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

Proactive Investors

Bit Digital brings in $4.1M in AI contract revenue in June

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

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

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

Zacks Investment Research

Bit Digital, Inc. (BTBT) Stock Falls Amid Market Uptick: What Investors Need to Know

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

Proactive Investors

Bit Digital shares skyrocket on $275M HPC contract expansion

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

Bit Digital, Inc. Announces Finalized Terms for Contract Expansion with Major HPC Customer; Total Contract Value Now Worth Approximately $275 Million

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

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