Bit Digital (NASDAQ:BTBT) Releases Earnings Results, Beats Expectations By $0.13 EPS

Bit Digital (NASDAQ:BTBT) issued its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.13, FiscalAI reports. Bit Digital had a negative net margin of 237.19% and a negative return on equity of 10.66%. The business had revenue of $27.07 million during the quarter, compared to analyst estimates of $32.21 million.

Here are the key takeaways from Bit Digital’s conference call:

• Colocation is expanding: WhiteFiber’s NC1 facility had all 40 MW of contracted capacity operational and billing by the call, supporting a 10-year, $865 million contract. Colocation revenue rose to $5.4 million from $4.7 million in the prior quarter, and cloud, colocation and staking together accounted for about 91% of revenue.
• Revenue declined sequentially: Third-quarter revenue fell to $27.1 million from $32.1 million, as cloud services revenue dropped to $18.1 million from $23.8 million. Cloud revenue included a $3.4 million termination fee, while the former customer generated no recurring revenue.
• Reported earnings included substantial valuation effects: Net income attributable to Bit Digital shareholders was $28.5 million, but the quarter also included $84 million in digital-asset gains and an $80.8 million induced-conversion expense at WhiteFiber. Management said nine-month operating cash flow of $163 million was materially supported by customer advances for services not yet delivered.
• ETH-backed financing carries collateral and liquidity risks: Bit Digital had $100 million outstanding under its bridge facility to WhiteFiber, funded by borrowing against liquid-staking ETH; management said repayment is targeted for the second quarter of 2027. Executives acknowledged ETH volatility, variable staking rewards and obligations tied to collateralized assets.
• Share repurchases remain uncertain: Management cited a roughly 39% discount to NAV but said a buyback requires shareholder approval and that funding and liquidity trade-offs are still being evaluated. Potential value-unlocking steps—including selling some WhiteFiber shares or developing a new business—remain conditional or early-stage.

Bit Digital Trading Down 3.2%

BTBT stock traded down $0.03 during midday trading on Thursday, reaching $0.77. The company’s stock had a trading volume of 11,931,524 shares, compared to its average volume of 25,782,398. Bit Digital has a 52 week low of $0.69 and a 52 week high of $2.79. The stock has a market cap of $277.33 million, a PE ratio of -0.73 and a beta of 3.54. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.69. The business’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.57.

Analyst Upgrades and Downgrades

BTBT has been the topic of several research reports. UBS Group raised Bit Digital to a “buy” rating in a report on Monday, September 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Bit Digital in a research report on Wednesday. JonesTrading raised Bit Digital to a “strong-buy” rating in a research note on Saturday, September 26th. Zacks Research upgraded Bit Digital from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Finally, HC Wainwright decreased their price target on Bit Digital from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Bit Digital currently has an average rating of “Moderate Buy” and an average target price of $4.25.

About Bit Digital

Bit Digital, Inc. is a digital-asset and infrastructure company whose activities include Bitcoin mining, Ethereum staking and computing services for artificial intelligence workloads. Its operations have expanded beyond cryptocurrency mining as it develops data-center capacity and related infrastructure for high-performance computing. The company has conducted Bitcoin mining operations in North America and participates in Ethereum staking, which involves supporting the network and earning rewards for validating transactions.