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Bit Digital (BTBT)
NASDAQ:BTBT
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
0.43Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 14, 2025
|% Change Since: 4.41%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth and strategic advancements in Bit Digital's HPC and cloud services, with promising future revenue streams and successful acquisitions. However, there were some concerns about gross profit contraction and potential tariff impacts on data center costs. The company is focusing on non-dilutive financing methods and maintaining a lean mining operation.Company Guidance
The guidance provided during the Bit Digital, Inc. Fiscal Year 2024 earnings call highlighted significant growth and strategic advancements. The company reported a remarkable 141% increase in revenues, with adjusted EBITDA reaching $73 million. A key driver was the expansion of their high-performance computing (HPC) business, which contributed over 40% of total revenue for the year and more than half in Q4. The acquisition of Enovum and the launch of WhiteFiber, their new HPC platform, further strengthened their operations. Cloud services became the largest revenue generator by the second half of 2024, bringing in $13 million in Q4 and contributing 50% of total revenue and 64% of gross profit. Despite a slight contraction in gross profit margins due to new GPU leasing costs, margins are expected to normalize over time as they transition to owning more GPUs. Additionally, the company is actively managing a customer pipeline, with a cloud services run rate projected at $72 million by late March 2025. The acquisition and development of data center facilities, such as Montreal 2, aim to expand their capacity to 32 megawatts by 2025, supporting the anticipated growth in demand for AI infrastructure. The call also touched on the strategic direction of maintaining a cost-efficient Bitcoin mining fleet while prioritizing investments in HPC. Overall, the guidance underscored Bit Digital's focus on scaling operations, securing strategic partnerships, and leveraging non-dilutive financing options to support sustainable growth.Exponential Revenue Growth
Revenues grew by 141% in 2024, with adjusted EBITDA reaching $73 million, driven by the rapid growth of the HPC business.
Successful Enovum Acquisition
The acquisition of Enovum vertically integrated Bit Digital's data center operations, adding a strong customer base and a highly experienced team.
Cloud Services Expansion
Cloud services, initiated in 2024, became the largest business segment, contributing $13 million in Q4 and representing 50% of total revenue.
Strong Customer Pipeline in AI
Significant demand for AI infrastructure with multiple contracts expected to substantially increase revenue, including a potential $25 million ARR from on-demand GPU deployment.
Strategic Partnerships and Colocation Growth
A new multi-year colocation agreement with Cerebras, a leading AI hardware innovator, and continuous expansion of colocation capacity with a robust pipeline.
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BTBT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BTBT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 14, 2025 | $2.27 | $2.44 | +7.49% |
| Nov 18, 2024 | $4.27 | $4.02 | -5.85% |
| Aug 19, 2024 | $2.99 | $3.61 | +20.74% |
| May 15, 2024 | $2.37 | $2.29 | -3.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bit Digital (BTBT) report earnings?
Bit Digital (BTBT) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Bit Digital (BTBT) earnings time?
Bit Digital (BTBT) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BTBT EPS forecast?
BTBT EPS forecast for the fiscal quarter 2025 (Q1) is -0.04.
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