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

Bit Digital (NASDAQ:BTBT) announced its earnings results on Thursday. The company reported ($0.45) 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 company had revenue of $27.92 million for the quarter, compared to analysts’ expectations of $25.73 million.

Bit Digital Trading Down 15.5%

Shares of Bit Digital stock opened at $1.80 on Friday. Bit Digital has a 1 year low of $1.25 and a 1 year high of $4.55. The company’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $2.02. The company has a market cap of $587.84 million, a price-to-earnings ratio of -3.27 and a beta of 3.95. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.13.

Trending Headlines about Bit Digital

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.

Institutional Investors Weigh In On Bit Digital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Trading LLC bought a new stake in Bit Digital during the 2nd quarter worth approximately $25,000. Mackenzie Financial Corp bought a new position in Bit Digital in the 3rd quarter valued at $34,000. WINTON GROUP Ltd acquired a new position in Bit Digital in the third quarter worth $35,000. Cerity Partners LLC acquired a new position in Bit Digital in the fourth quarter worth $26,000. Finally, nVerses Capital LLC bought a new stake in shares of Bit Digital during the fourth quarter worth $26,000. Institutional investors own 47.70% of the company’s stock.

Analyst Ratings Changes

BTBT has been the subject of several recent research reports. Zacks Research downgraded shares of Bit Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, April 6th. Weiss Ratings downgraded Bit Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 30th. Wall Street Zen lowered Bit Digital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research note on Thursday, April 2nd. Finally, B. Riley Financial reduced their target price on Bit Digital from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.67.

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.