Bit Digital (NASDAQ:BTBT) Releases Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Bit Digital (NASDAQ:BTBT) released its quarterly earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26), FiscalAI reports. Bit Digital had a negative return on equity of 8.44% and a negative net margin of 145.39%.The company had revenue of $32.11 million during the quarter, compared to analysts’ expectations of $23.58 million.

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

• Second-quarter revenue rose 15% sequentially to $32.1 million, led by a 42% increase in cloud-services revenue. Operating cash flow for the first six months increased 33% year over year to $46.8 million.
• Management highlighted approximately $1 billion of remaining performance obligations, including $57.7 million expected to be recognized during the rest of 2026 and $136.7 million in 2027. WhiteFiber also expects its North Carolina facility to reach the full contracted run rate under its 10-year, approximately $865 million agreement with Enscale.
• Bit Digital used Ethereum-backed liquidity to provide WhiteFiber with a delayed-draw facility of up to $150 million, preserving its ETH and WhiteFiber ownership while earning a return above staking yields. Management said the bridge is expected to be repaid following permanent financing for the North Carolina facility.
• Bit Digital reported a $107.2 million net loss attributable to shareholders, including a $28.8 million mark-to-market loss on digital assets, a $46 million non-cash impairment on liquid-staked ETH, and $14 million in derivative-liability losses. Ethereum staking revenue also fell sequentially after some ETH was unstaked as collateral.
• Management is evaluating a share buyback because it believes the stock trades at a 40% or greater discount to net asset value, but no timing, size, or funding source has been approved. The company said it will not sell WhiteFiber shares during 2026 and is also considering limited covered calls on a portion of that stake.

Bit Digital Stock Up 5.4%

Shares of BTBT stock traded up $0.08 during trading hours on Friday, hitting $1.57. 22,263,219 shares of the company were exchanged, compared to its average volume of 25,081,441. The stock has a market capitalization of $548.23 million, a price-to-earnings ratio of -2.31 and a beta of 4.02. Bit Digital has a one year low of $1.18 and a one year high of $4.55. The business’s 50-day simple moving average is $1.65 and its two-hundred day simple moving average is $1.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.36 and a current ratio of 6.36.

More Bit Digital News

Here are the key news stories impacting Bit Digital this week:

• Positive Sentiment: Second-quarter revenue reached $32.1 million, well above the $23.6 million analyst consensus and up 15% sequentially. Cloud-services revenue rose 42% from the prior quarter, supported by new and expanded contracts. Bit Digital revenue rises as cloud services drive growth
• Positive Sentiment: Management highlighted its ongoing pivot toward AI and high-performance computing infrastructure, alongside Ethereum-focused strategies. The cloud-driven expansion offers investors a potential growth path beyond the company’s more volatile cryptocurrency-mining operations. Bit Digital Earnings Call Highlights Cloud-Driven Pivot
• Neutral Sentiment: Analyst commentary cited a $5.12 average price target, but the stock remains highly volatile, with a beta of 4.02 and trading below its 50-day and 200-day moving averages. Bit Digital receives average analyst price target
• Negative Sentiment: Bit Digital reported a quarterly loss of $0.31 per share, substantially worse than the expected $0.05 loss and the $0.03 loss recorded a year earlier. Heavy impairments, digital-asset losses and interest costs pressured results, leaving the company with a negative net margin of 145.39%. Bit Digital Q2 Earnings Miss Despite Revenue Beat on Cloud Growth

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BTBT shares. Weiss Ratings lowered shares of Bit Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. B. Riley Financial reissued a “buy” rating on shares of Bit Digital in a research report on Monday, May 18th. Craig Hallum restated a “buy” rating and set a $3.50 target price on shares of Bit Digital in a research note on Tuesday, July 14th. Finally, Zacks Research raised Bit Digital from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.12.

Institutional Trading of Bit Digital

Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bit Digital during the fourth quarter worth approximately $54,000. Cibc World Markets Corp bought a new position in shares of Bit Digital in the fourth quarter worth $40,000. Headlands Technologies LLC bought a new position in shares of Bit Digital in the second quarter worth $56,000. Tower Research Capital LLC TRC increased its holdings in shares of Bit Digital by 596.5% during the second quarter. Tower Research Capital LLC TRC now owns 25,303 shares of the company’s stock valued at $55,000 after purchasing an additional 21,670 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Bit Digital during the second quarter valued at $71,000. Institutional investors own 47.70% of the company’s stock.

About Bit Digital

Bit Digital, Inc (NASDAQ: BTBT) is a publicly traded digital asset mining company that specializes in the proof-of-work mining of Bitcoin. Incorporated in Nevada and headquartered in New York City, Bit Digital develops, owns and manages a fleet of high-efficiency ASIC miners, with the primary aim of generating newly minted Bitcoin through computational work. The company’s revenue is derived solely from its mining operations and any resulting cryptocurrency holdings.

To support its mining activities, Bit Digital maintains multiple data center facilities across North America.