Bit Digital, Inc.

BTBT

Financial ServicesSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Bit Digital, Inc., together with its subsidiaries, engages in the institutional grade ethereum treasury and staking business. The company designs and operates data centers that provides hosting and colocation services; and cloud solutions for AI training and inference workloads. It is also involved in digital asset 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 founded in 2015 and is headquartered in New York, New York.

Valuation

Market Cap$646M

Current Price$2.16as of Jun 23, 2026

P/E Ratio-8.04

P/B Ratio0.90

EV / EBITDA-14.07

EV / Sales5.83

Profitability

Operating Margin-49.8%

Net Profit Margin-70.7%

EBITDA Margin-41.4%

Returns

ROE-11.2%

ROCE-5.2%

ROIC %-7.5%

ROA-6.8%

Solvency

Current Ratio6.39

Debt / Equity0.19

Debt / Assets0.11

CFO / Net Profit3.60

Price History▼ 6.90% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$114M▲ 5.1%

EBITDA$-47M▼ 172.8%

Net Profit$-80M▼ 383.7%

Cash from Ops (CFO)$-289M▲ 2124.7%

Free Cash Flow (FCF)$-575M▲ 437.3%

Revenue CAGR 3Y52.1%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$114M	$-47M	$-80M	$-575M	-11.2%	5.1%	-383.7%
2024	$108M	$65M	$28M	$-107M	6.2%	140.6%	-303.7%
2023	$45M	$1M	$-14M	$-66M	-9.7%	39.1%	-86.8%
2022	$32M	$-11M	$-105M	$-28M	-130.2%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	32.30	44.92	108.05	113.56
Operating Revenue	-	32.30	44.92	107.50	112.06
Cost Of Revenue	-	20.37	29.56	62.38	52.39
Gross Profit	-	11.92	15.36	45.67	61.17
Operating Expense	-	50.81	42.10	73.82	117.78
Selling General And Administration	-	22.98	27.67	41.51	80.96
Total Expenses	-	71.19	71.65	136.20	170.17
Operating Income	-	-38.89	-26.74	-28.15	-56.61
Total Operating Income As Reported	-	-107.17	-16.62	27.56	-91.83
EBITDA	-	-11.06	0.81	64.60	-47.03
Normalized EBITDA	-	54.82	-9.15	9.74	-26.65
EBIT	-	-38.89	-13.61	32.28	-83.84
Interest Expense	-	-	0	0	3.09
Net Interest Income	-	-	0	0	-3.09
Other Non Operating Income Expenses	-	-1.12	3.16	5.58	-6.85
Other Income Expense	-	-67	13.12	60.43	-27.23
Interest Expense Non Operating	-	-	0	0	3.09
Net Non Operating Interest Income Expense	-	-	0	0	-3.09
Pretax Income	-	-105.89	-13.61	32.28	-86.94
Tax Provision	-	-0.59	0.28	3.98	-2.01
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	-0.66	2.09	6.75	-0.47
Net Income Continuous Operations	-	-105.30	-13.89	28.31	-84.93
Net Income From Continuing And Discontinued Operation	-	-105.30	-13.89	28.31	-80.32
Net Income From Continuing Operation Net Minority Interest	-	-105.30	-13.89	28.31	-80.32
Net Income	-	-105.30	-13.89	28.31	-80.32
Net Income Common Stockholders	-	-105.30	-13.89	28.31	-80.32
Net Income Including Noncontrolling Interests	-	-105.30	-13.89	28.31	-84.93
Normalized Income	-	-40.07	-21.76	-19.80	-60.40
Diluted NI Availto Com Stockholders	-	-105.30	-13.89	28.31	-80.32
Basic Average Shares	-	78.61	87.53	140.35	257.88
Diluted Average Shares	-	78.61	87.53	141.51	257.88
Reconciled Depreciation	-	27.83	14.43	32.31	36.82
Reconciled Cost Of Revenue	-	20.37	29.56	62.38	52.39
Total Unusual Items	-	-65.88	9.96	54.85	-20.38
Total Unusual Items Excluding Goodwill	-	-65.88	9.96	54.85	-20.38
Minority Interests	-	-	0	0	4.61
Net Income Discontinuous Operations	0	0	-	-	-
Special Income Charges	-	-66.92	9.95	54.85	-36.13
Write Off	-	-6.42	2.04	0	0
Impairment Of Capital Assets	-	74.69	6.63	0	6.01
Gain On Sale Of Security	20.81	1.04	0.01	-	15.75
Depreciation Amortization Depletion Income Statement	-	27.83	14.43	32.31	36.82
Depreciation And Amortization In Income Statement	-	27.83	14.43	32.31	36.82
General And Administrative Expense	-	22.98	27.67	41.51	80.96
Other Gand A	-	22.98	27.67	41.51	80.96
Gain On Sale Of Ppe	-	1.35	18.62	54.85	-30.12

Peer Comparison

Financial Services sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Bit Digital, Inc.this co.	BTBT	$646M	-8.04	0.90	-11.2%	-14.07
Community West Bancshares	CWBC	$661M	17.31	1.61	9.3%	-
Tiptree Inc.	TIPT	$656M	18.79	1.29	6.9%	-
Third Coast Bancshares, Inc.	TCBX	$652M	9.84	1.23	12.5%	-
GCM Grosvenor Inc.	GCMG	$644M	14.19

Learn while you research

Hand-picked academy chapters to deepen your understanding of Bit Digital, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$114M

$-47M

$-80M

$-575M

-11.2%

5.1%

-383.7%

2024

$108M

$65M

$28M

$-107M

6.2%

140.6%

-303.7%

2023

$45M

$1M

$-14M

$-66M

-9.7%

39.1%

-86.8%

2022

$32M

$-11M

$-105M

$-28M

-130.2%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

32.30

44.92

108.05

113.56

Operating Revenue

32.30

44.92

107.50

112.06

Cost Of Revenue

20.37

29.56

62.38

52.39

Gross Profit

11.92

15.36

45.67

61.17

Operating Expense

50.81

42.10

73.82

117.78

Selling General And Administration

22.98

27.67

41.51

80.96

Total Expenses

71.19

71.65

136.20

170.17

Operating Income

-38.89

-26.74

-28.15

-56.61

Total Operating Income As Reported

-107.17

-16.62

27.56

-91.83

EBITDA

-11.06

0.81

64.60

-47.03

Normalized EBITDA

54.82

-9.15

9.74

-26.65

EBIT

-38.89

-13.61

32.28

-83.84

Interest Expense

3.09

Net Interest Income

-3.09

Other Non Operating Income Expenses

-1.12

3.16

5.58

-6.85

Other Income Expense

-67

13.12

60.43

-27.23

Interest Expense Non Operating

3.09

Net Non Operating Interest Income Expense

-3.09

Pretax Income

-105.89

-13.61

32.28

-86.94

Tax Provision

-0.59

0.28

3.98

-2.01

Tax Rate For Calcs

Tax Effect Of Unusual Items

-0.66

2.09

6.75

-0.47

Net Income Continuous Operations

-105.30

-13.89

28.31

-84.93

Net Income From Continuing And Discontinued Operation

-105.30

-13.89

28.31

-80.32

Net Income From Continuing Operation Net Minority Interest

-105.30

-13.89

28.31

-80.32

Net Income

-105.30

-13.89

28.31

-80.32

Net Income Common Stockholders

-105.30

-13.89

28.31

-80.32

Net Income Including Noncontrolling Interests

-105.30

-13.89

28.31

-84.93

Normalized Income

-40.07

-21.76

-19.80

-60.40

Diluted NI Availto Com Stockholders

-105.30

-13.89

28.31

-80.32

Basic Average Shares

78.61

87.53

140.35

257.88

Diluted Average Shares

78.61

87.53

141.51

257.88

Reconciled Depreciation

27.83

14.43

32.31

36.82

Reconciled Cost Of Revenue

20.37

29.56

62.38

52.39

Total Unusual Items

-65.88

9.96

54.85

-20.38

Total Unusual Items Excluding Goodwill

-65.88

9.96

54.85

-20.38

Minority Interests

4.61

Net Income Discontinuous Operations

Special Income Charges

-66.92

9.95

54.85

-36.13

Write Off

-6.42

2.04

Impairment Of Capital Assets

74.69

6.63

6.01

Gain On Sale Of Security

20.81

1.04

0.01

15.75

Depreciation Amortization Depletion Income Statement

27.83

14.43

32.31

36.82

Depreciation And Amortization In Income Statement

27.83

14.43

32.31

36.82

General And Administrative Expense

22.98

27.67

41.51

80.96

Other Gand A

22.98

27.67

41.51

80.96

Gain On Sale Of Ppe

1.35

18.62

54.85

-30.12

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Bit Digital, Inc.this co.

BTBT

$646M

-8.04

0.90

-11.2%

-14.07

Community West Bancshares

CWBC

$661M

17.31

1.61

9.3%

Tiptree Inc.

TIPT

$656M

18.79

1.29

6.9%

Third Coast Bancshares, Inc.

TCBX

$652M

9.84

1.23

12.5%

GCM Grosvenor Inc.

GCMG

$644M

14.19

Bit Digital, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Bit Digital, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on