(BTBT) Bit Digital - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: NASDAQ (USA) | Market Cap: 604m USD | Total Return: -22% in 12m
Avg Turnover: 40.8M
Qual. Beats: -1
Rev. Trend: 84.2%
Qual. Beats: 0
Warnings
Share dilution 79.5% YoY
Tailwinds
No distinct edge detected
Bit Digital Inc. (BTBT) is a New York-based digital asset infrastructure company that operates across three primary business segments: digital asset mining, institutional-grade Ethereum staking, and specialized cloud services. Originally founded in 2015 as Golden Bull Limited, the firm rebranded in 2020 to focus on the high-performance computing (HPC) and blockchain sectors.
The company utilizes a diversified infrastructure model, designing and operating data centers that provide colocation services alongside cloud solutions tailored for artificial intelligence (AI) training and inference workloads. This pivot toward AI infrastructure represents a growing trend among digital asset miners seeking to monetize excess power capacity and specialized hardware for more stable, non-volatile revenue streams.
Ethereum staking involves locking digital assets to support network security in exchange for programmatic rewards, positioning Bit Digital as a participant in decentralized finance (DeFi) infrastructure. Investors can evaluate the long-term viability of these revenue streams by reviewing the data sets available on ValueRay. As an Application Software firm, the company’s valuation is increasingly tied to its ability to scale its AI-focused GPU cloud offerings alongside its traditional mining operations.
- Ethereum staking yields and treasury performance drive recurring digital asset revenue
- AI cloud hosting contracts and GPU infrastructure expansion diversify revenue streams
- Bitcoin mining hash rate growth and network difficulty impact operational margins
- Regulatory changes for digital asset staking influence institutional service demand
- High correlation to Bitcoin and Ethereum price volatility dictates stock valuation
| Net Income: -169.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.14 > 0.02 and ΔFCF/TA 12.99 > 1.0 |
| NWC/Revenue: 363k% < 20% (prev 88.14%; Δ 363k% < -1%) |
| CFO/TA -0.00 > 3% & CFO -1.40b > Net Income -169.3m |
| Current Ratio: 6.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (325.6m) vs 12m ago 79.50% < -2% |
| Gross Margin: 46.72% > 18% (prev 0.63%; Δ 4.61k% > 0.5%) |
| Asset Turnover: 0.02% > 50% (prev 32.68%; Δ -32.66% > 0%) |
| Interest Coverage Ratio: 0.01 > 6 (EBITDA TTM 107.0m / Interest Expense TTM 5.09b) |
| A: 0.36 (Total Current Assets 500b - Total Current Liabilities 78.5b) / Total Assets 1181b |
| B: -0.28 (Retained Earnings -326b / Total Assets 1181b) |
| C: 0.00 (EBIT TTM 63.2m / Avg Total Assets 591b) |
| D: -0.56 (Book Value of Equity -323b / Total Liabilities 572b) |
| Altman-Z'' = 0.85 = B |
| DSRI: 8.13k (Receivables 91.7b/15.4m, Revenue 115.9m/158.6m) |
| GMI: 1.34 (GM 46.72% / 62.79%) |
| AQI: 3.00 (AQ_t 0.49 / AQ_t-1 0.16) |
| SGI: 0.73 (Revenue 115.9m / 158.6m) |
| TATA: 0.00 (NI -169.3m - CFO -1.40b) / TA 1181b) |
| Beneish M = 6.69k (Cap -4..+1) = D |
As of May 24, 2026, the stock is trading at USD 1.94 with a total of 28,410,268 shares traded.
Over the past week, the price has changed by +10.25%,
over one month by +19.88%,
over three months by +19.88% and
over the past year by -21.96%.
Bit Digital has received a consensus analysts rating of 4.80. Therefore, it is recommended to buy BTBT.
- StrongBuy: 4
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 4.6 | 137.1% |
P/S = 5.2631
P/B = 1.3128
Revenue TTM = 115.9m USD
EBIT TTM = 63.2m USD
EBITDA TTM = 107.0m USD
Long Term Debt = 110.3m USD (from longTermDebt, last fiscal year)
Short Term Debt = 18.4b USD (from shortTermDebt, last quarter)
Debt = 364b USD (from shortLongTermDebtTotal, last quarter) + Leases 23.9m
Net Debt = 284b USD (calculated: Debt 364b - CCE 79.7b)
Enterprise Value = 285b USD (604.1m + Debt 364b - CCE 79.7b)
Interest Coverage Ratio = 0.01 (Ebit TTM 63.2m / Interest Expense TTM 5.09b)
EV/FCF = -1.67x (Enterprise Value 285b / FCF TTM -171b)
FCF Yield = -59.97% (FCF TTM -171b / Enterprise Value 285b)
FCF Margin = -147k% (FCF TTM -171b / Revenue TTM 115.9m)
Net Margin = -146.0% (Net Income TTM -169.3m / Revenue TTM 115.9m)
Gross Margin = 46.72% ((Revenue TTM 115.9m - Cost of Revenue TTM 61.8m) / Revenue TTM)
Gross Margin QoQ = 20.71% (prev 55.74%)
Tobins Q-Ratio = 0.24 (Enterprise Value 285b / Total Assets 1181b)
Interest Expense / Debt = 1.40% (Interest Expense 5.09b / Debt 364b)
Taxrate = 21.0% (US default 21%)
NOPAT = 50.0m (EBIT 63.2m * (1 - 21.00%))
Current Ratio = 6.36 (Total Current Assets 500b / Total Current Liabilities 78.5b)
Debt / Equity = 0.78 (Debt 364b / totalStockholderEquity, last quarter 469b)
Debt / EBITDA = 2.65k (out of range, set to none) (Net Debt 284b / EBITDA 107.0m)
Debt / FCF = -1.66 (negative FCF - burning cash) (Net Debt 284b / FCF TTM -171b)
Total Stockholder Equity = 118b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.03% (Net Income -169.3m / Total Assets 1181b)
RoE = -0.04% (Net Income TTM -169.3m / Total Stockholder Equity 444b)
RoCE = 0.01% (EBIT 63.2m / Capital Employed (Equity 444b + L.T.Debt 110.3m))
RoIC = 0.00% (NOPAT 50.0m / Invested Capital 1121b)
WACC = 1.13% (E(604.1m)/V(365b) * Re(18.28%) + D(364b)/V(365b) * Rd(1.40%) * (1-Tc(0.21)))
Discount Rate = 18.28% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 95.56 | Cagr: 63.91%
[DCF] Fair Price = unknown (Cash Flow -171b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.57 | # QB: -1
Revenue Correlation: 84.23 | Revenue CAGR: 72.76% | SUE: 0.15 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=-0.02 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Year (2027-12-31): EPS=0.03 | Chg30d=N/A | Revisions=-20% | GrowthEPS=+117.9% | GrowthRev=+105.0%
[Analyst] Revisions Ratio: -20%