GICS Sector : Financial Services
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.
Bit Digital reported 2025 revenue of $113.6 million, up 5 % YoY, with a gross margin of 56 % and a fourth‑quarter gross profit of $18 million. Net earnings slipped to a loss of $0.04 EPS versus the consensus of $0.02, reflecting the wind‑down of Bitcoin mining and the transition to a new strategic asset company model. The company trades at a P/E of –6.1, an EV/EBITDA of 3.38, and carries a net debt/EBITDA of 0.08, signaling a lean balance sheet amid the restructuring. (Tabar)
Publication Date: Apr -15
CEO Samir Tabar outlined Bit Digital’s repositioning as a Strategic Asset Company (SAC), centering on Ethereum and AI infrastructure. The firm exited Bitcoin mining, secured a 70 % stake in WhiteFiber, and is actively scouting M&A targets that can generate durable cash flow and align with its AI‑centric thesis.
WhiteFiber remains the engine of growth, contributing cloud, colocation, and staking revenue. The company’s Ethereum strategy prioritizes native staking and selective partnerships, aiming to boost ETH per share while maintaining security and liquidity. The 5 % revenue rise underscores the momentum in these segments despite the mining exit.
Gross margin improvement to 56 % reflects disciplined cost control in data center operations and a shift away from the high‑variable costs of mining. The transition to a more predictable infrastructure model positions Bit Digital for higher operating leverage as scale expands.
Bit Digital’s CFO highlighted a focus on deploying capital efficiently, with a keen eye on acquiring or building operating businesses that deliver consistent returns. The company’s healthy balance sheet, evidenced by a low net debt/EBITDA ratio, provides flexibility to fund strategic acquisitions without diluting shareholder value.
The firm has engaged with potential acquisition candidates since January, emphasizing alignment with its SAC framework. Hiring of due diligence specialists and legal counsel signals a methodical approach to M&A, with a preference for businesses that can accelerate the transition to AI‑driven revenue streams.
At a P/S of 4.36 and P/B of 0.68, Bit Digital trades at a modest valuation relative to its asset base, reflecting market uncertainty about the new business model. The negative P/E underscores the current loss, but the low EV/EBITDA suggests upside potential if the AI and Ethereum initiatives generate sustainable cash flow.
Bit Digital, Inc. (BTBT) Outpaces Stock Market Gains: What You Should Know
Apr -15
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Apr -13
Pershing Square kicks off IPO roadshow
Apr -13
Bit Digital CEO discusses Ethereum strategy, AI expansion - ICYMI
Apr -11
Bit Digital, Inc. (BTBT) Stock Sinks As Market Gains: What You Should Know
Apr -07
Bit Digital adjusts staking allocation to increase flexibility in March
Apr -07
Bit Digital Inc. Reports Monthly Ethereum Treasury and Staking Metrics for March 2026
Apr -07
Bit Digital adjusts staking allocation to increase flexibility in March
Apr -07
The 25.6% growth in Digital Asset Mining from Bit Digital, Inc. is driven by increasing adoption of cryptocurrencies, rising Bitcoin prices, and improved mining efficiency. Additionally, the company's strategic expansion into low-cost mining locations and investments in new mining equipment have contributed to the growth.
Ethereum Native Staking from Bit Digital, Inc. growth of 26.77% driven by increasing adoption of decentralized finance (DeFi) applications, rising institutional investment in Ethereum, and growing demand for staking services. Additionally, Bit Digital's strategic expansion into new markets and improved operational efficiency also contribute to the growth.
Ethereum Liquid Staking's 24.7% growth is driven by increasing institutional adoption, rising DeFi lending demand, and Bit Digital's strategic expansion into the staking market. Additionally, the growing popularity of Ethereum 2.0 and its proof-of-stake consensus mechanism are contributing to the segment's rapid growth.
Bit Digital, Inc. offers bitcoin mining services, providing a secure and reliable way to mine bitcoins. The company operates a large fleet of miners, ensuring a high hash rate and efficient mining process.
Bit Digital, Inc. provides a platform for cryptocurrency trading, allowing users to buy and sell various cryptocurrencies, including bitcoin, ethereum, and others.
Bit Digital, Inc. offers blockchain development services, helping businesses and organizations build custom blockchain solutions for various use cases.
Bit Digital, Inc. provides digital asset management services, allowing users to securely store, manage, and transfer their digital assets.
The threat of substitutes for Bit Digital, Inc. is medium due to the presence of alternative cryptocurrencies and digital assets.
The bargaining power of customers for Bit Digital, Inc. is low due to the lack of concentration of buyers in the cryptocurrency market.
The bargaining power of suppliers for Bit Digital, Inc. is medium due to the presence of multiple suppliers of cryptocurrency mining equipment and services.
The threat of new entrants for Bit Digital, Inc. is high due to the low barriers to entry in the cryptocurrency market and the increasing popularity of cryptocurrency mining.
The intensity of rivalry for Bit Digital, Inc. is high due to the high level of competition in the cryptocurrency market and the increasing number of cryptocurrency mining companies.
| Value | |
|---|---|
| Debt Weight | 3.91% |
| Debt Cost | 3.95% |
| Equity Weight | 96.09% |
| Equity Cost | 28.25% |
| WACC | 27.30% |
| Leverage | 4.07% |
Value: 6.4
Growth: 5.1
Quality: 3.7
Yield: 6.0
Momentum: 3.0
Volatility: 5.0
1-Year Total Return ->
Value: 6.0
Growth: 4.3
Quality: 3.5
Yield: 5.0
Momentum: 9.0
Volatility: 0.3
1-Year Total Return ->
Value: 7.6
Growth: 6.4
Quality: 9.4
Yield: 0.0
Momentum: 2.5
Volatility: 0.7
1-Year Total Return ->
Value: 8.8
Growth: 4.0
Quality: 6.1
Yield: 0.0
Momentum: 2.5
Volatility: 0.3
1-Year Total Return ->
Value: 8.2
Growth: 2.0
Quality: 4.4
Yield: 0.0
Momentum: 5.0
Volatility: 0.7
1-Year Total Return ->
Value: 8.1
Growth: 2.8
Quality: 1.8
Yield: 0.0
Momentum: 2.5
Volatility: 2.0
1-Year Total Return ->