Bit Digital (BTBT) AI Stock Analysis

• Market Cap: $540.54M
• Dividend Yield: N/A
• Average Volume (3M): 26.20M
• Price to Earnings (P/E): 4.3
• Beta (1Y): 2.35
• Revenue Growth: 9.52%
• EPS Growth: 496.04%
• Country: US
• Employees: 54
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.47
• Shares Outstanding: 323,674,840
• 10 Day Avg. Volume: 20,974,969
• 30 Day Avg. Volume: 26,204,980
• PEG Ratio: -0.06
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 2.51
• P/FCF Ratio: -3.84
• Enterprise Value/Market Cap: 0.75
• Enterprise Value/Revenue: 2.48
• Enterprise Value/Gross Profit: 3.70
• Enterprise Value/Ebitda: 2.02
• 1Y Price Target: $4.75
• Price Target Upside: 184.43% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.01
• Revenue Forecast (FY): $215.64M

• Rating: 61 Neutral
• Price Target: $2.00 ▲(19.76% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is driven by strong profitability and a conservative balance sheet, plus a low P/E that supports valuation. Offsetting these are weak technical conditions (below major moving averages with bearish momentum) and material cash flow/operational efficiency concerns, despite a constructive earnings-call outlook around the Ethereum staking shift.

Positive Factors

Conservative balance sheet

A very low debt-to-equity ratio provides durable financial flexibility to fund staking, data center investments, or weather crypto volatility without heavy leverage. That reduces refinancing risk and preserves optionality for strategic deployment over the next several months.

Scale in Ethereum staking

Substantial ETH treasury and rapid staking growth create a recurring, protocol-level revenue stream less tied to hash-rate economics. Growing staking revenue transforms treasury into an income-generating asset, improving structural revenue diversification over the medium term.

Strategic AI infrastructure stake

A majority stake in an AI infrastructure company offers non-crypto revenue optionality and strategic diversification. This positions the firm to capture secular AI infrastructure demand and reduces sole reliance on crypto-mining economics for long-term enterprise value.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flow indicate cash conversion problems that can force reliance on asset sales or external financing. Over months this limits capacity to reinvest in staking or infrastructure and raises execution and liquidity risk during downturns.

Operational margin weakness

A negative EBIT margin shows core operations are not consistently profitable and that net income is driven by non-operating gains. Without improved operating efficiency, sustainable earnings quality and margin durability remain at risk over the medium term.

Winding down Bitcoin mining

Scaling back Bitcoin mining reduces business diversification and mined-BTC cash flow. The structural shift toward ETH staking concentrates revenue sources, increasing exposure to staking yield variability and protocol-specific risks over the coming months.

Bit Digital Business Overview & Revenue Model

Company Description

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020. Bit Digital, Inc. was incorporated in 2017 and is headquartered in New York, New York.

How the Company Makes Money

Bit Digital generates revenue primarily through Bitcoin mining operations. The company earns income by validating transactions on the Bitcoin blockchain and receiving rewards in the form of newly minted Bitcoins and transaction fees. The revenue model is supported by maintaining a fleet of mining machines and ensuring optimal performance through strategic partnerships with hardware providers and energy suppliers. Additionally, fluctuations in Bitcoin prices significantly influence the company’s earnings, as higher Bitcoin values result in increased profitability from mined assets. The company's efforts to continuously improve mining efficiency and reduce operational costs also play a crucial role in enhancing its revenue generation capabilities.

Bit Digital Financial Statement Overview

Summary

Profitability and balance sheet strength are solid (TTM net margin 84.04%, low debt-to-equity 0.046, ROE 22.65%), but operating efficiency and liquidity are concerns (negative EBIT margin and negative operating/free cash flow).

Income Statement

Bit Digital shows a strong net profit margin of 84.04% in TTM, indicating high profitability. However, the EBIT margin is negative, suggesting operational inefficiencies. Revenue growth is positive at 4.70%, but the gross profit margin has decreased from 61.91% to 55.82% compared to the previous year, indicating potential cost pressures.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.046, reflecting conservative leverage. Return on equity is healthy at 22.65%, indicating effective use of equity to generate profits. The equity ratio is strong, suggesting a solid financial position with a high proportion of assets financed by equity.

Cash Flow

Bit Digital faces challenges with negative operating cash flow and free cash flow, indicating cash management issues. The free cash flow to net income ratio is high at 2.27, suggesting cash flow inefficiencies. Despite a significant free cash flow growth rate of 144.88%, the negative cash flow metrics highlight liquidity concerns.

Breakdown	TTM	Dec 2024	Dec 2023	Mar 2023	Mar 2022	Dec 2020
Income Statement
Total Revenue	162.59M	163.76M	44.92M	32.30M	96.08M	21.07M
Gross Profit	108.89M	101.38M	15.36M	11.92M	65.34M	6.96M
EBITDA	200.10M	59.87M	-12.31M	-11.06M	26.18M	4.45M
Net Income	137.02M	28.31M	-13.89M	-105.30M	-1.01M	-2.28M
Balance Sheet
Total Assets	1.13B	538.25M	189.33M	100.42M	179.92M	39.89M
Cash, Cash Equivalents and Short-Term Investments	180.15M	98.16M	64.75M	33.32M	42.40M	405.13K
Total Debt	41.92M	13.81M	6.22M	0.00	0.00	336.72K
Total Liabilities	87.50M	74.77M	36.62M	10.49M	8.27M	1.89M
Stockholders Equity	906.15M	463.48M	152.70M	89.93M	171.64M	38.00M
Cash Flow
Free Cash Flow	-448.39M	-106.99M	-65.55M	-27.83M	-70.10M	-7.92M
Operating Cash Flow	-197.54M	-12.99M	1.11M	-8.50M	-23.26M	-3.42M
Investing Cash Flow	-289.09M	-149.02M	-69.16M	-18.61M	-40.93M	-2.05M
Financing Cash Flow	563.84M	242.86M	52.22M	18.71M	106.19M	5.25M

Bit Digital Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.67
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BTBT, the sentiment is Negative. The current price of 1.67 is below the 20-day moving average (MA) of 1.75, below the 50-day MA of 1.99, and below the 200-day MA of 2.68, indicating a bearish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 41.24 is Neutral, neither overbought nor oversold. The STOCH value of 66.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BTBT.

Bit Digital Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BTBT	61 Neutral	$540.54M	4.30	22.44%	―	9.52%	496.04%
BTCS	56 Neutral	$74.94M	2.29	43.45%	1.65%	482.50%	82.04%
CIFR	54 Neutral	$6.32B	-7.60	-110.55%	―	35.41%	-38.08%
HIVE	49 Neutral	C$699.62M	-3.40	-25.17%	―	60.71%	-52.29%
MARA	47 Neutral	$3.38B	-2.26	23.13%	―	53.51%	112.53%

Bit Digital Corporate Events

Bit Digital Highlights Shift to Ethereum and AI Infrastructure

On February 4, 2026, Bit Digital, Inc. planned to present at the RedChip Fintech & DATS Investors Conference, using an investor presentation to outline its transition into a Strategic Asset Company focused on Ethereum and AI infrastructure. The materials detailed the company’s multiyear shift from Bitcoin mining to building an Ethereum-centric treasury, scaling ETH staking, winding down BTC mining, launching cloud services, acquiring a data center platform, and retaining a majority stake in publicly listed AI infrastructure business WhiteFiber, with illustrative figures as of December 31, 2025 showing substantial holdings in Ethereum and WYFI; the disclosure underscored the risks, high volatility, and non-guaranteed nature of future performance for investors evaluating Bit Digital’s evolving infrastructure-heavy business model.

The most recent analyst rating on (BTBT) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on Bit Digital stock, see the BTBT Stock Forecast page.