Bit Digital Inc Stock Price, News & Analysis

Bit Digital (NASDAQ:BTBT) has announced a strategic pivot to become a pure play Ethereum (ETH) staking and treasury company. The company plans to convert its entire Bitcoin (BTC) holdings into ETH and is seeking strategic alternatives for its bitcoin mining operations, including potential sale or wind-down.

As of March 31, 2025, Bit Digital held 24,434.2 ETH valued at $44.6 million and 417.6 BTC valued at $34.5 million. The company began building its ETH position and staking infrastructure in 2022 and has been steadily increasing its holdings since then.

Bit Digital (NASDAQ:BTBT) has announced that its wholly-owned HPC subsidiary, WhiteFiber Inc., has confidentially submitted a draft registration statement on Form S-1 to the SEC for a proposed initial public offering (IPO) of its ordinary shares.

The specific details regarding the number of shares to be offered and the price range have not been determined yet. The IPO's completion depends on market conditions and SEC review process. This announcement is made in accordance with Rule 135 under the Securities Act of 1933.

Bit Digital (NASDAQ:BTBT) has announced the commencement of an underwritten public offering of its ordinary shares. The company plans to use the net proceeds to purchase Ethereum.

The offering is being conducted through a shelf registration statement on Form S-3, with B. Riley Securities serving as the sole bookrunning manager, while Clear Street, Craig-Hallum, and Northland Capital Markets act as co-managers. The registration statement was declared effective on June 20, 2025.

WhiteFiber Inc., a wholly-owned HPC subsidiary of Bit Digital (NASDAQ: BTBT), has secured a landmark C$60 million credit facility from the Royal Bank of Canada for its data centers business. The financing agreement includes a real estate term loan, equipment financing, and a revolving facility, carrying interest rates of CORRA plus 250 bps with a 3-year term.

The non-recourse credit agreement involves ENOVUM Data Centers Corp. and its Montreal II project as borrowers and guarantors. The proceeds will support the expansion of WhiteFiber's Tier-3 AI data center portfolio. CEO Sam Tabar highlighted this as a breakthrough achievement, noting it as the first financing of its kind in the HPC Cloud and data centers sector.

WhiteFiber Inc., Bit Digital's (NASDAQ: BTBT) AI subsidiary, has acquired a 96-acre industrial property in Madison, North Carolina for $45 million to develop a flagship AI data center campus. The ~1 million square foot facility has secured a 99 MW power agreement with Duke Energy, with initial 24 MW delivery expected by September 2025. The site has potential for up to 200 MW capacity and is strategically located within 100 miles of major NC cities. The company plans to invest over $1 billion in the project, creating 60+ jobs. The facility qualifies for NC state tax exemptions, and WhiteFiber is already in negotiations with potential HPC tenants, having signed one non-binding LOI. The first phase is expected to be operational by year-end 2025, with the company planning to pursue commercial mortgage financing for the site.

Bit Digital (NASDAQ: BTBT) reported mixed Q1 2025 financial results, with total revenue declining 17% to $25.1 million. The company's revenue mix shifted significantly as bitcoin mining revenue fell 64% to $7.8 million, while cloud services revenue grew 84% to $14.8 million. New revenue streams included colocation services at $1.6 million and ETH staking revenue at $0.6 million. The company reported an Adjusted EBITDA loss of $44.5 million, compared to positive $58.5 million in Q1 2024, primarily due to $49.2 million in mark-to-market losses on digital assets. The company maintained a strong balance sheet with $61.3 million in cash and total liquidity of $141.4 million. Notable operational developments included strategic partnerships, new cloud services agreements, and the rebranding of its HPC business as WhiteFiber.

Bit Digital (NASDAQ: BTBT), a New York-based global platform for high-performance computing infrastructure and digital asset production, has scheduled its First Quarter 2025 earnings release for Thursday, May 15, 2025, after market close. The company will host a live webcast and conference call to discuss the results on Friday, May 16, 2025, at 10:00 a.m. ET.

Interested participants can join the conference call by dialing 1-877-612-6725 (passcode: 151360) or register through the provided link. The earnings press release will be available on the company's website at www.bit-digital.com.

Bit Digital (NASDAQ: BTBT) has secured a new data center site in Saint-Jérôme, Québec (MTL-3) to support its 5MW colocation agreement with Cerebras Systems. The facility spans 202,000 square feet on 7.7 acres and will be developed under a lease-to-own structure with a 20-year term and two 5-year extension options.

The development, managed through Bit Digital's WhiteFiber platform, involves retrofitting to Tier 3 standards with expected costs of CAD $55 million (approximately $40MM USD). The facility has a targeted go-live date of July 2025.

Under the previously announced February 2025 agreement, Cerebras has contracted for 5MW (IT load) of built-to-suit infrastructure for five years, with a right of first refusal for additional megawatt capacity at the site.

Bit Digital (NASDAQ: BTBT) has announced a strategic partnership between its subsidiary WhiteFiber and Shadeform, set to launch in April 2025. The collaboration will provide on-demand access to NVIDIA B200 GPUs through WhiteFiber's AI/ML optimized GPU cloud infrastructure and Shadeform's multi-cloud marketplace.

The partnership will serve organizations and developers across 100+ regions, eliminating barriers like high up-front costs and long-term commitments. WhiteFiber's platform architecture is designed to maximize GPU utilization and efficiency, while Shadeform's marketplace will facilitate immediate access to these high-performance computing resources.