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

Bit Digital (NASDAQ:BTBT) issued its quarterly earnings results on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.41), FiscalAI reports. The company had revenue of $27.92 million for the quarter, compared to analyst estimates of $25.73 million. Bit Digital had a negative return on equity of 5.39% and a negative net margin of 70.70%.

Bit Digital Trading Down 15.5%

Bit Digital stock traded down $0.33 during trading hours on Friday, reaching $1.80. 31,567,226 shares of the company’s stock traded hands, compared to its average volume of 25,014,244. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.39 and a current ratio of 6.39. Bit Digital has a fifty-two week low of $1.25 and a fifty-two week high of $4.55. The firm has a market capitalization of $587.84 million, a price-to-earnings ratio of -3.27 and a beta of 3.95. The firm’s 50 day moving average is $1.59 and its 200-day moving average is $2.02.

Key Stories Impacting 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.

Wall Street Analysts Forecast Growth

BTBT has been the topic of several 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. Wall Street Zen downgraded shares of Bit Digital from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings downgraded shares of Bit Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 30th. B. Riley Financial reduced their price target on shares of Bit Digital from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Bit Digital currently has a consensus rating of “Hold” and an average price target of $5.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its position in Bit Digital by 29.4% during the 4th quarter. Cetera Investment Advisers now owns 48,693 shares of the company’s stock valued at $92,000 after purchasing an additional 11,074 shares during the period. Polymer Capital Management US LLC acquired a new position in Bit Digital during the 4th quarter valued at about $85,000. Insigneo Advisory Services LLC acquired a new position in Bit Digital during the 4th quarter valued at about $79,000. Tidal Investments LLC acquired a new position in Bit Digital during the 2nd quarter valued at about $71,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Bit Digital by 596.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 25,303 shares of the company’s stock valued at $55,000 after acquiring an additional 21,670 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

About Bit Digital

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.