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Bit Digital (BTBT)
NASDAQ:BTBT
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.03Last Year’s EPS
$0.12Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 18, 2024
|% Change Since: -21.55%
|Next Earnings Date:Mar 26, 2025
Earnings Call Sentiment|Neutral
The earnings call presents a mixed picture with strong growth and expansion in the HPC sector counterbalanced by challenges in the Bitcoin mining operations and increased costs. The strategic pivot towards HPC and successful acquisition of Enovum highlight future growth potential, but current financial metrics reflect operational hurdles and a transition phase.Company Guidance
During the Bit Digital Q3 2024 earnings call, the company outlined significant developments and guidance for its operations. They reported a total revenue of $22.7 million, marking a 96% increase compared to the previous year, primarily driven by their High-Performance Computing (HPC) business, which contributed $12.2 million, while Bitcoin mining revenue decreased by 11% to $10.1 million. Bit Digital's Bitcoin production fell 59% year-over-year to 165.4 Bitcoins due to higher network difficulty and the April halving event. The company has set a target to reach a $100 million run rate revenue for its HPC business by year-end 2024. They expect to add 8 megawatts of capacity by Q2 2025 and reach a total of 32 megawatts by the end of the year. Additionally, Bit Digital plans to return to an operational exahash of approximately 3 by the first half of 2025, following the replacement of older mining units with more efficient ones. The call also highlighted an ongoing transformation from a Bitcoin miner to a diversified digital asset company, with a focus on expanding their data center operations and GPU cloud business.Significant Revenue Increase
Total revenue for Q3 2024 was $22.7 million, marking a 96% increase compared to the prior year. This growth was driven by contributions from the HPC business.
Enovum Acquisition and Expansion
The acquisition of Enovum for approximately $46 million has vertically integrated Bit Digital's HPC operations, adding significant datacenter capacity and a strong pipeline of expansion opportunities.
GPU Cloud Business Growth
Bit Digital has signed an MSA with Boosteroid and initiated an order for about 300 GPUs, with expectations to deploy around 10,000 GPUs through 2025.
Strong HPC Business Contribution
The HPC services business generated $12.2 million in revenue during the quarter, contributing significantly to gross profit.
New Customer Agreements
New term sheets and MSAs have been signed with several customers, expected to generate substantial revenue and expand GPU deployments.
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BTBT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BTBT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 18, 2024 | $4.27 | $4.02 | -5.85% |
| Aug 19, 2024 | $2.99 | $3.61 | +20.74% |
| May 15, 2024 | $2.37 | $2.29 | -3.38% |
| Mar 18, 2024 | $2.17 | $2.14 | -1.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bit Digital (BTBT) report earnings?
Bit Digital (BTBT) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Bit Digital (BTBT) earnings time?
Bit Digital (BTBT) earnings time is at Mar 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BTBT EPS forecast?
BTBT EPS forecast for the fiscal quarter 2024 (Q4) is -$0.03.
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