About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of July 2024.Corporate Highlights for July 2024The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of July 31, 2024. The Company earned an estimated $4.3 ...

Bit Digital, Inc. (BTBT) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this company have returned +16.2%, compared to the Zacks S&P 500 composite's +1.1% change. During this period, the Zacks Technology Services industry, which Bit Digital falls in, has lost 1.9%. The key question now is: What could be the stock's future direction?A ...

Investors in Bit Digital, Inc. (BTBT) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $8 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mea ...

Company Performance - Bit Digital, Inc. (BTBT) closed at $3.53, reflecting a -0.7% change from the previous day, which is less than the S&P 500's daily loss of 0.5% [1] - Over the past month, shares of Bit Digital, Inc. have gained 4.72%, while the Business Services sector lost 0.49% and the S&P 500 gained 0.1% [1] - The upcoming EPS for Bit Digital, Inc. is projected at -$0.03, indicating a 250% drop compared to the same quarter of the previous year, while revenue is expected to be $27.84 million, showing a 207.91% increase year-over-year [1] Analyst Estimates - For the full year, analysts expect earnings of $0.38 per share and revenue of $123.73 million, representing changes of +337.5% and +175.45% from last year [2] - Recent changes to analyst estimates reflect evolving short-term business trends, with positive revisions indicating analyst optimism regarding the company's business and profitability [2] - Adjustments in estimates are associated with imminent stock price performance, and investors can utilize the Zacks Rank for actionable insights [2] Valuation and Industry Ranking - Bit Digital, Inc. has a Forward P/E ratio of 9.26, which is a discount compared to the industry's average Forward P/E of 23.45 [3] - The Technology Services industry, part of the Business Services sector, has a Zacks Industry Rank of 87, placing it in the top 35% of over 250 industries [3] - The Zacks Industry Rank measures the strength of individual industry groups, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [3]

Bit Digital, Inc. (BTBT) ended the recent trading session at $3.95, demonstrating a +1.41% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.The company's stock has climbed by 47.35% in the past month, exceeding the Business Services sector's loss of 3.28% and the S&P 500's gain of 0.43%.Investors will be eagerly watching for the performance of Bit Digital, ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Viewpoint - Bit Digital, Inc. (BTBT) has gained significant attention in the market, with a stock return of +45.9% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change and the Zacks Technology Services industry's +2.4% [1] Earnings Estimates - Bit Digital is expected to report break-even earnings per share (EPS) for the current quarter, reflecting a year-over-year change of -100% [3] - The consensus earnings estimate for the current fiscal year is $0.38, indicating a change of +337.5% from the prior year, although this estimate has decreased by -150% over the last 30 days [3] - For the next fiscal year, the consensus earnings estimate is $0.22, representing a change of -42.1% from the previous year, with a recent change of -10.7% [3] Revenue Growth - The consensus sales estimate for the current quarter is $27.84 million, showing a year-over-year change of +207.9% [6] - For the current fiscal year, the sales estimate is $123.73 million, indicating a +175.5% change, while the next fiscal year's estimate of $153.53 million reflects a +24.1% change [6] Recent Performance - In the last reported quarter, Bit Digital achieved revenues of $30.29 million, a year-over-year increase of +266.3%, and an EPS of $0.03 compared to -$0.03 a year ago [7] - The company exceeded the Zacks Consensus Estimate for revenues by +18.28% and had an EPS surprise of +200% [7] - Bit Digital has consistently beaten consensus EPS estimates in the last four quarters and topped revenue estimates three times during this period [7] Valuation Metrics - Bit Digital's valuation is assessed through various multiples, including price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), which help determine if the stock is fairly valued, overvalued, or undervalued [8] - The Zacks Value Style Score grades Bit Digital as D, indicating it is trading at a premium compared to its peers [10]

Loading...Loading...Bit Digital, Inc. BTBT, a company engaged in bitcoin mining and various digital asset activities, has recently shown signs of a significant bullish technical pattern known as the ‘Golden Cross.’Despite a challenging year with Bit Digital’s stock down 13.03% over the past year and 17.97% year-to-date, the recent technical indicators suggest a potential upside ahead.Chart created using Benzinga ProMoving Averages and Golden Cross:8-day SMA: BTBT share price is $3.48, above the 8-day simple ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...