Bit Digital Reports Q1 Revenue Beat Amid Stock Decline
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2026
0mins
Source: Fool
- Stock Decline: Bit Digital's stock plummeted 17.6% during Friday's trading, as of 12:35 p.m. ET, reflecting broader market weakness with the S&P 500 and Nasdaq Composite down 1% and 1.2%, respectively.
- Revenue Growth: The company reported a Q1 revenue increase of approximately 11% year-over-year to $27.9 million, surpassing Wall Street's average estimate by $2.9 million, yet still posted a significant net loss of $146.7 million, although this was an improvement from the prior year's loss of $185.3 million.
- Sales Decline: Sales fell 13.6% year-over-year in Q1, primarily due to decreased cloud services revenue, lower staking revenue from Ethereum, and reduced crypto mining income, indicating competitive pressures in the market.
- Strategic Shift: Bit Digital is pivoting from crypto mining to leveraging its computing power for artificial intelligence services, which appears promising but carries substantial execution risks, with future performance hinging on Ethereum price trends and the success of the new business model.
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Analyst Views on BTBT
Wall Street analysts forecast BTBT stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.030
Low
4.00
Averages
5.63
High
7.00
Current: 2.030
Low
4.00
Averages
5.63
High
7.00
About BTBT
Bit Digital, Inc. is a global platform for high performance computing (HPC) infrastructure and digital asset production company. The Company is a provider of HPC data centers and cloud-based HPC graphics processing units (GPU) services, which term cloud services, for customers such as artificial intelligence (AI) and machine learning (ML) developers. The Company designs, develops, and operates HPC data centers, through which it offers hosting and colocation services. The Company has four reportable segments: Digital asset mining, Cloud services, Colocation services, and ETH Staking. The Digital asset mining segment is engaged in bitcoin and mining activities. The Cloud services segment provides HPC services to support generative AI workstreams. The Colocation services segment provide customers with physical space, power and cooling within the data center facility. The ETH staking segment is engaged in both native staking and liquid staking.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bit Digital Acquires $20M in Ethereum, Strengthening Treasury
- Strategic Asset Investment: Bit Digital announced the purchase of approximately 8,568 Ethereum (ETH) for $20 million at an average cost of $2,334.25, further enhancing its balance sheet and demonstrating confidence in Ethereum as foundational infrastructure for the future digital economy.
- ETH Reserve Growth: Following this transaction, Bit Digital's Ethereum reserves increased to approximately 158,461.75 ETH, indicating the company's proactive positioning in the cryptocurrency market aimed at enhancing net asset value (NAV) per share through increased holdings.
- Market Condition Alignment: CEO Tabar emphasized that Bit Digital executes trades decisively when market conditions align with its investment thesis, and this purchase not only lowers the average acquisition cost but also strengthens its strategic position within the Ethereum ecosystem.
- Diversified Investment Strategy: Bit Digital plans to deploy capital across three main verticals: Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions, showcasing its diversified investment approach in the digital asset space aimed at creating long-term value for shareholders.
See More
Bit Digital Acquires 8,568 Ethereum for $20 Million
- Ethereum Acquisition: On May 11, 2026, Bit Digital acquired 8,568 Ethereum at an average cost of $2,334.25 each for a total investment of $20 million, further solidifying its position among the largest public holders of Ethereum globally.
- Asset Allocation Strategy: This acquisition increases Bit Digital's Ethereum reserves to approximately 158,461.75 ETH, reflecting the company's confidence in Ethereum as a foundational infrastructure for the future digital economy and supporting its commitment to NAV per share growth.
- Market Outlook: CEO Sam Tabar noted that the current Ethereum market appears more like a reset than an ending, indicating the company's intent to continue executing its capital deployment strategy when market conditions align, focusing on Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions.
- Company Positioning: As a publicly-listed Strategic Asset Company, Bit Digital emphasizes a disciplined Ethereum accumulation program and AI/HPC infrastructure business, aiming to achieve sustained shareholder value growth through strategic investments.
See More
Bit Digital Acquires 8,568 Ethereum for $20 Million
- Strategic Asset Acquisition: Bit Digital has acquired 8,568 Ethereum (ETH) for $20 million at an average cost of $2,334.25, increasing its total holdings to approximately 158,461.75 ETH, which reinforces its position among the largest public holders of Ethereum globally and reflects the company's confidence in Ethereum as foundational infrastructure for the future digital economy.
- Capital Deployment Strategy: CEO Sam Tabar stated that this acquisition not only lowers the average acquisition cost but also supports the commitment to net asset value (NAV) growth per share, indicating the company's decisive execution of its capital deployment strategy when market conditions align, thereby enhancing shareholder value.
- Diversified Business Focus: Bit Digital is focused on Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions, demonstrating its investment decisions across multiple core areas aimed at achieving long-term growth through a diversified business model.
- Market Outlook: With the Ethereum market appearing to reset, Bit Digital's acquisition actions reflect its optimism about future market potential, which is expected to further enhance the company's competitiveness and market share in the digital asset space.
See More
WhiteFiber Secures $100 Million Loan to Support Growth Initiatives
- Increased Financial Flexibility: WhiteFiber has entered into a $100 million delayed draw term loan facility with Bit Digital Capital, which can be increased to $150 million, aimed at providing financial flexibility to support the company's growth initiatives in data centers and cloud services.
- Project Advancement Assurance: This loan will help WhiteFiber bridge timing gaps between project initiation and permanent financing, with CEO Sam Tabar stating that the company will continue to pursue non-dilutive permanent financing solutions to ensure timely funding for ongoing business development.
- Infrastructure Development Acceleration: WhiteFiber intends to use the loan proceeds to complete the first phase of its high-performance computing data center in Madison, North Carolina, which is expected to significantly enhance the company's computing capacity and market competitiveness.
- Strategic Focus on AI Infrastructure: The company is committed to building a scalable infrastructure platform to support the demand for next-generation AI workloads, ensuring a strong position in the rapidly evolving AI market.
See More
Bit Digital Provides $100 Million Loan to WhiteFiber
- Loan for Growth: Bit Digital has originated a delayed draw term loan facility of up to $100 million for WhiteFiber, aimed at supporting its near-term growth initiatives, which will enhance WhiteFiber's market position in AI infrastructure.
- Innovative Financing Structure: The facility allows for an expansion to $150 million upon mutual agreement, with Bit Digital funding through an Ethereum-backed credit facility, expected to yield returns exceeding traditional Ethereum staking, thereby optimizing capital allocation.
- Strategic Asset Company Platform: This transaction aligns with Bit Digital's capital allocation strategy, aiming to enhance overall economic benefits within its portfolio by supporting WhiteFiber's long-term value creation, further solidifying its investment thesis in AI infrastructure.
- Governance and Compliance: The transaction was approved by the company's board through a comprehensive governance process, including independent committee review, ensuring economic rationality and risk management, reflecting Bit Digital's rigorous approach to execution and shareholder alignment.
See More
Bit Digital Provides $100 Million Loan to WhiteFiber
- Loan Agreement Established: Bit Digital has originated a $100 million delayed draw term loan for WhiteFiber, aimed at supporting its near-term growth initiatives, which will enhance WhiteFiber's market position in the AI infrastructure sector.
- Innovative Financing Structure: The facility can be expanded to $150 million upon mutual agreement, with Bit Digital planning to fund advances through an Ethereum-denominated secured credit facility, allowing it to retain ETH exposure while earning attractive financing spreads.
- Strategic Asset Company Positioning: This loan aligns with Bit Digital's capital allocation strategy, aiming to pursue risk-adjusted returns that exceed traditional ETH staking yields while supporting WhiteFiber's long-term value creation, benefiting Bit Digital shareholders.
- Governance Safeguards: The transaction was approved by the company's board through a comprehensive governance process, including review by an independent committee, ensuring the economic viability, structure, strategic rationale, and shareholder alignment, reflecting the company's commitment to governance.
See More
Bit Digital Acquires $20M in Ethereum, Strengthening Treasury
- Strategic Asset Investment: Bit Digital announced the purchase of approximately 8,568 Ethereum (ETH) for $20 million at an average cost of $2,334.25, further enhancing its balance sheet and demonstrating confidence in Ethereum as foundational infrastructure for the future digital economy.
- ETH Reserve Growth: Following this transaction, Bit Digital's Ethereum reserves increased to approximately 158,461.75 ETH, indicating the company's proactive positioning in the cryptocurrency market aimed at enhancing net asset value (NAV) per share through increased holdings.
- Market Condition Alignment: CEO Tabar emphasized that Bit Digital executes trades decisively when market conditions align with its investment thesis, and this purchase not only lowers the average acquisition cost but also strengthens its strategic position within the Ethereum ecosystem.
- Diversified Investment Strategy: Bit Digital plans to deploy capital across three main verticals: Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions, showcasing its diversified investment approach in the digital asset space aimed at creating long-term value for shareholders.
See More
Bit Digital Acquires 8,568 Ethereum for $20 Million
- Ethereum Acquisition: On May 11, 2026, Bit Digital acquired 8,568 Ethereum at an average cost of $2,334.25 each for a total investment of $20 million, further solidifying its position among the largest public holders of Ethereum globally.
- Asset Allocation Strategy: This acquisition increases Bit Digital's Ethereum reserves to approximately 158,461.75 ETH, reflecting the company's confidence in Ethereum as a foundational infrastructure for the future digital economy and supporting its commitment to NAV per share growth.
- Market Outlook: CEO Sam Tabar noted that the current Ethereum market appears more like a reset than an ending, indicating the company's intent to continue executing its capital deployment strategy when market conditions align, focusing on Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions.
- Company Positioning: As a publicly-listed Strategic Asset Company, Bit Digital emphasizes a disciplined Ethereum accumulation program and AI/HPC infrastructure business, aiming to achieve sustained shareholder value growth through strategic investments.
See More
Bit Digital Acquires 8,568 Ethereum for $20 Million
- Strategic Asset Acquisition: Bit Digital has acquired 8,568 Ethereum (ETH) for $20 million at an average cost of $2,334.25, increasing its total holdings to approximately 158,461.75 ETH, which reinforces its position among the largest public holders of Ethereum globally and reflects the company's confidence in Ethereum as foundational infrastructure for the future digital economy.
- Capital Deployment Strategy: CEO Sam Tabar stated that this acquisition not only lowers the average acquisition cost but also supports the commitment to net asset value (NAV) growth per share, indicating the company's decisive execution of its capital deployment strategy when market conditions align, thereby enhancing shareholder value.
- Diversified Business Focus: Bit Digital is focused on Ethereum ecosystem strategies, AI infrastructure, and strategic acquisitions, demonstrating its investment decisions across multiple core areas aimed at achieving long-term growth through a diversified business model.
- Market Outlook: With the Ethereum market appearing to reset, Bit Digital's acquisition actions reflect its optimism about future market potential, which is expected to further enhance the company's competitiveness and market share in the digital asset space.
See More
WhiteFiber Secures $100 Million Loan to Support Growth Initiatives
- Increased Financial Flexibility: WhiteFiber has entered into a $100 million delayed draw term loan facility with Bit Digital Capital, which can be increased to $150 million, aimed at providing financial flexibility to support the company's growth initiatives in data centers and cloud services.
- Project Advancement Assurance: This loan will help WhiteFiber bridge timing gaps between project initiation and permanent financing, with CEO Sam Tabar stating that the company will continue to pursue non-dilutive permanent financing solutions to ensure timely funding for ongoing business development.
- Infrastructure Development Acceleration: WhiteFiber intends to use the loan proceeds to complete the first phase of its high-performance computing data center in Madison, North Carolina, which is expected to significantly enhance the company's computing capacity and market competitiveness.
- Strategic Focus on AI Infrastructure: The company is committed to building a scalable infrastructure platform to support the demand for next-generation AI workloads, ensuring a strong position in the rapidly evolving AI market.
See More
Bit Digital Provides $100 Million Loan to WhiteFiber
- Loan for Growth: Bit Digital has originated a delayed draw term loan facility of up to $100 million for WhiteFiber, aimed at supporting its near-term growth initiatives, which will enhance WhiteFiber's market position in AI infrastructure.
- Innovative Financing Structure: The facility allows for an expansion to $150 million upon mutual agreement, with Bit Digital funding through an Ethereum-backed credit facility, expected to yield returns exceeding traditional Ethereum staking, thereby optimizing capital allocation.
- Strategic Asset Company Platform: This transaction aligns with Bit Digital's capital allocation strategy, aiming to enhance overall economic benefits within its portfolio by supporting WhiteFiber's long-term value creation, further solidifying its investment thesis in AI infrastructure.
- Governance and Compliance: The transaction was approved by the company's board through a comprehensive governance process, including independent committee review, ensuring economic rationality and risk management, reflecting Bit Digital's rigorous approach to execution and shareholder alignment.
See More
Bit Digital Provides $100 Million Loan to WhiteFiber
- Loan Agreement Established: Bit Digital has originated a $100 million delayed draw term loan for WhiteFiber, aimed at supporting its near-term growth initiatives, which will enhance WhiteFiber's market position in the AI infrastructure sector.
- Innovative Financing Structure: The facility can be expanded to $150 million upon mutual agreement, with Bit Digital planning to fund advances through an Ethereum-denominated secured credit facility, allowing it to retain ETH exposure while earning attractive financing spreads.
- Strategic Asset Company Positioning: This loan aligns with Bit Digital's capital allocation strategy, aiming to pursue risk-adjusted returns that exceed traditional ETH staking yields while supporting WhiteFiber's long-term value creation, benefiting Bit Digital shareholders.
- Governance Safeguards: The transaction was approved by the company's board through a comprehensive governance process, including review by an independent committee, ensuring the economic viability, structure, strategic rationale, and shareholder alignment, reflecting the company's commitment to governance.
See More
