Bit Digital price target lowered to $5 from $6 at B. Riley

B. Riley lowered the firm’s price target on Bit Digital (BTBT) to $5 from $6 and keeps a Buy rating on the shares. Bit Digital reported FY25 results showing ETH staking revenue of $7.0M, up from $1.8M in 2024, reflecting its shift to a strategic asset company model focused on ETH as a productive asset and AI infrastructure exposure via majority-owned WhiteFiber, the analyst tells investors in a research note. Management emphasized building durable cash flow through staking to grow ETH per share and signaled potential M&A to add counter-cyclical cash flow, with agentic AI highlighted as a possible target area, the firm says.