Bit Digital (NASDAQ:BTBT) Releases Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Bit Digital (NASDAQ:BTBT) issued its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.41), FiscalAI reports. Bit Digital had a negative net margin of 70.70% and a negative return on equity of 5.39%. The firm had revenue of $27.92 million for the quarter, compared to analyst estimates of $25.73 million.

Bit Digital Stock Down 15.5%

Shares of BTBT stock traded down $0.33 on Friday, reaching $1.80. 31,567,226 shares of the company’s stock traded hands, compared to its average volume of 25,014,244. Bit Digital has a 12-month low of $1.25 and a 12-month high of $4.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.39 and a current ratio of 6.39. The company has a market capitalization of $587.84 million, a P/E ratio of -3.27 and a beta of 3.95. The business’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $2.02.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BTBT. B. Riley Financial decreased their target price on Bit Digital from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Zacks Research cut Bit Digital from a “hold” rating to a “strong sell” rating in a report on Monday, April 6th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a report on Thursday, April 2nd. Weiss Ratings cut Bit Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 30th. Finally, Wall Street Zen cut Bit Digital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Bit Digital currently has a consensus rating of “Hold” and a consensus target price of $5.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Walleye Trading LLC purchased a new position in shares of Bit Digital during the second quarter valued at $25,000. Mackenzie Financial Corp purchased a new position in shares of Bit Digital during the third quarter valued at $34,000. WINTON GROUP Ltd purchased a new position in shares of Bit Digital during the third quarter valued at $35,000. Cerity Partners LLC purchased a new position in shares of Bit Digital during the fourth quarter valued at $26,000. Finally, nVerses Capital LLC purchased a new position in shares of Bit Digital during the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Key Bit Digital News

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

• Positive Sentiment: Revenue came in above Wall Street expectations, with first-quarter sales of about $27.9 million versus estimates near $25.7 million, suggesting the core business performed better than feared.
• Positive Sentiment: The company said it is expanding its Ethereum treasury strategy and AI/HPC infrastructure efforts through WhiteFiber, reinforcing a new growth narrative that some investors may view favorably.
• Positive Sentiment: Bit Digital reported holding roughly 155,444 ETH at quarter-end, giving the stock a direct lever to Ethereum price moves and crypto sentiment.
• Neutral Sentiment: Coverage around the results focused heavily on valuation and the company’s long-term pivot, indicating investors are still assessing whether the Ethereum-and-AI strategy can create durable shareholder value. Assessing Bit Digital (BTBT) Valuation As Ethereum And AI Expansion Meets Q1 2026 Earnings Volatility
• Neutral Sentiment: Multiple earnings-call recaps emphasized strategic shifts and the company’s AI push, but also noted volatility and a complicated transition away from the prior mining-centric story. Bit Digital Inc (BTBT) Q1 2026 Earnings Call Highlights: Strategic Shifts Amid Revenue Decline
• Negative Sentiment: The company posted a quarterly loss and the earnings commentary pointed to revenue decline versus the prior period, underscoring that profitability remains weak despite the top-line beat.
• Negative Sentiment: Articles describing Bit Digital as part of a broader wave of crypto firms reporting losses likely added pressure by highlighting industry-wide profitability concerns rather than near-term operational strength.

Bit Digital Company Profile

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.