Bit Digital (NASDAQ:BTBT) Issues Earnings Results, Beats Expectations By $0.11 EPS

Bit Digital (NASDAQ:BTBT) issued its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11, Zacks reports. The company had revenue of $27.07 million during the quarter, compared to analyst estimates of $32.21 million. Bit Digital had a negative net margin of 237.19% and a negative return on equity of 10.66%.

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 Price Performance

Shares of NASDAQ BTBT opened at $0.77 on Friday. The stock’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.51 and a quick ratio of 1.51. Bit Digital has a 1-year low of $0.69 and a 1-year high of $2.79. The company has a market cap of $276.39 million, a price-to-earnings ratio of -0.72 and a beta of 3.54.

Trending Headlines about Bit Digital

Investors following BTBT have been watching these headlines:

• Positive Sentiment: Q3 earnings beat analyst expectations, and the company reported a $28.5 million profit. Colocation revenue growth contributed, though reported profit included asset gains. Article: Bit Digital Q3 profit and revenue
• Negative Sentiment: Revenue was $27.07 million, below the $32.21 million consensus estimate and down 11% year over year. Reports also pointed to mining weakness, raising questions about operating momentum despite the earnings beat. Article: Q3 earnings and mining performance
• Negative Sentiment: HC Wainwright lowered its price target from $4.00 to $3.50, although it maintained a Buy rating. The reduction may reflect the mixed results and revenue shortfall. Article: HC Wainwright recommendations

Analyst Upgrades and Downgrades

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

Bit Digital Company Profile

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.