Bit Digital, Inc. engages in the bitcoin mining business.
Bit Digital Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$11.35|
|52 Week High||US$3.40|
|52 Week Low||US$33.00|
|1 Month Change||13.61%|
|3 Month Change||139.96%|
|1 Year Change||197.12%|
|3 Year Change||62.14%|
|5 Year Change||n/a|
|Change since IPO||145.67%|
Recent News & Updates
Bit Digital: A Potential Buy As They Relocate To North America
For being one of the largest public cryptocurrency miners, Bit Digital is not as well known as some major players. Bit Digital's stock price has taken a beating from the China crackdown, where most of their operations used to be located. Bit Digital offers an opportunity to investors who think they can quickly get their mining fleet back online in North America.
Returns On Capital Are A Standout For Bit Digital (NASDAQ:BTBT)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...
Market Still Discounting Bit Digital Despite China Issue Turning To Tactical Advantage
From a market cap to max current hash rate perspective, Bit Digital compares well to its peers with 1.9 EH/s to only a $685m valuation. As of June 30th, 45% of Bit Digital's 32,500 miners were either in transit or awaiting installation in the US, with 29% of the fleet still in China. During the second quarter, Bit Digital purchased 3,515 miners on the Chinese spot market, including 1,259 Bitmain S17Pro, 954 MicroBT M20S, and 930 Bitmain S17+. Bit Digital has a new, relatively large 100MW co-mining agreement with Digihost. The recent dislocation of Chinese miners should both increase availability and lower the costs across the spectrum of equipment types in China.
Bit Digital, Inc. (NASDAQ:BTBT) Stock Catapults 162% Though Its Price And Business Still Lag The Market
Bit Digital, Inc. ( NASDAQ:BTBT ) shareholders would be excited to see that the share price has had a great month...
|BTBT||US Software||US Market|
Return vs Industry: BTBT exceeded the US Software industry which returned 34.3% over the past year.
Return vs Market: BTBT exceeded the US Market which returned 30% over the past year.
Stable Share Price: BTBT is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 39% a week.
Volatility Over Time: BTBT's weekly volatility has increased from 30% to 39% over the past year.
About the Company
Bit Digital, Inc. engages in the bitcoin mining business. 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.
Bit Digital Fundamentals Summary
|BTBT fundamental statistics|
Is BTBT overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|BTBT income statement (TTM)|
|Cost of Revenue||US$36.80m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.53|
|Net Profit Margin||39.65%|
How did BTBT perform over the long term?See historical performance and comparison
Is Bit Digital undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate BTBT's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate BTBT's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: BTBT is good value based on its PE Ratio (21.4x) compared to the US Software industry average (56.3x).
PE vs Market: BTBT is poor value based on its PE Ratio (21.4x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: BTBT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: BTBT is overvalued based on its PB Ratio (7.5x) compared to the US Software industry average (7.3x).
How is Bit Digital forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BTBT's earnings are forecast to decline over the next 3 years (-6.7% per year).
Earnings vs Market: BTBT's earnings are forecast to decline over the next 3 years (-6.7% per year).
High Growth Earnings: BTBT's earnings are forecast to decline over the next 3 years.
Revenue vs Market: BTBT's revenue (1.1% per year) is forecast to grow slower than the US market (9.9% per year).
High Growth Revenue: BTBT's revenue (1.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if BTBT's Return on Equity is forecast to be high in 3 years time
How has Bit Digital performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BTBT has a high level of non-cash earnings.
Growing Profit Margin: BTBT's current net profit margins (39.6%) are higher than last year (-106.3%).
Past Earnings Growth Analysis
Earnings Trend: BTBT has become profitable over the past 5 years, growing earnings by 69.6% per year.
Accelerating Growth: BTBT's earnings growth over the past year (796.4%) exceeds its 5-year average (69.6% per year).
Earnings vs Industry: BTBT earnings growth over the past year (796.4%) exceeded the Software industry 24.1%.
Return on Equity
High ROE: BTBT's Return on Equity (35%) is considered high.
How is Bit Digital's financial position?
Financial Position Analysis
Short Term Liabilities: BTBT's short term assets ($59.6M) exceed its short term liabilities ($3.2M).
Long Term Liabilities: BTBT's short term assets ($59.6M) exceed its long term liabilities ($47.7K).
Debt to Equity History and Analysis
Debt Level: BTBT is debt free.
Reducing Debt: BTBT had no debt 5 years ago.
Debt Coverage: BTBT has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: BTBT has no debt, therefore coverage of interest payments is not a concern.
What is Bit Digital current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate BTBT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate BTBT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if BTBT's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if BTBT's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of BTBT's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Bryan Bullett (49 yo)
Mr. Bryan Bullett serves as Chief Executive Officer at Bit Digital, Inc. since March 31, 2021. He has served as a consultant to the Company since February 2021, and has served as a consultant or independen...
Experienced Management: BTBT's management team is not considered experienced ( 0.6 years average tenure), which suggests a new team.
Experienced Board: BTBT's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 58.6%.
Bit Digital, Inc.'s employee growth, exchange listings and data sources
- Name: Bit Digital, Inc.
- Ticker: BTBT
- Exchange: NasdaqCM
- Founded: 2017
- Industry: Application Software
- Sector: Software
- Market Cap: US$786.647m
- Shares outstanding: 69.31m
- Website: https://bit-digital.com
Number of Employees
- Bit Digital, Inc.
- 33 Irving Place
- New York
- New York
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/19 23:51|
|End of Day Share Price||2021/10/19 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.