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Complete financial analysis of Bit Digital, Inc. (BTBT) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Bit Digital, Inc., a leading company in the Financial – Capital Markets industry within the Financial Services sector.
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Bit Digital, Inc. (BTBT)
About Bit Digital, Inc.
Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020. Bit Digital, Inc. was incorporated in 2017 and is headquartered in New York, New York.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 44.92M | 32.30M | 96.08M | 21.07M | 4.59M | 7.89M | 6.95M | 3.71M | 0.00 |
| Cost of Revenue | 29.56M | 20.37M | 30.74M | 14.10M | 0.00 | 0.00 | 391.93K | 0.00 | 0.00 |
| Gross Profit | 15.36M | 11.92M | 65.34M | 6.96M | 4.59M | 7.89M | 6.56M | 3.71M | 0.00 |
| Gross Profit Ratio | 34.20% | 36.91% | 68.01% | 33.04% | 100.00% | 100.00% | 94.36% | 100.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 137.42K | 447.88K | 485.85K | 417.90K | 29.94K |
| General & Administrative | 26.47M | 23.11M | 39.15M | 2.52M | 2.48M | 6.69M | 3.92M | 1.64M | 492.49K |
| Selling & Marketing | 1.20M | 1.10M | 0.00 | 0.00 | 6.96M | 4.94M | 3.91M | 1.43M | 361.09K |
| SG&A | 27.67M | 23.11M | 39.15M | 2.52M | 9.43M | 11.63M | 7.83M | 3.07M | 111.75K |
| Other Expenses | 4.31M | 27.83M | 13.11M | 3.32M | 93.58K | 171.08K | 75.65K | -155.00 | 0.00 |
| Operating Expenses | 31.98M | 50.94M | 52.27M | 5.84M | 9.57M | 12.07M | 8.31M | 3.49M | 141.69K |
| Cost & Expenses | 61.54M | 71.32M | 83.01M | 19.94M | 9.57M | 12.07M | 8.31M | 3.49M | 141.69K |
| Interest Income | 0.00 | 0.00 | 0.00 | 41.00 | 0.00 | 0.00 | 17.17K | 3.32K | 12.00 |
| Interest Expense | 0.00 | 132.62M | 0.00 | 0.00 | 0.00 | 0.00 | 1.70K | 1.01K | 0.00 |
| Depreciation & Amortization | 14.43M | 27.83M | 13.11M | 3.32M | 30.20K | 82.87K | 57.60K | 38.97K | 1.70M |
| EBITDA | -12.31M | -8.96M | 26.18M | 4.45M | -1.96M | -3.91M | -1.21M | 255.83K | 1.56M |
| EBITDA Ratio | -27.40% | 168.93% | 32.51% | 17.28% | -107.95% | -51.99% | -18.72% | 6.90% | 0.00% |
| Operating Income | -16.62M | 26.73M | 18.12M | 315.16K | -4.98M | -4.18M | -1.36M | 216.85K | -141.69K |
| Operating Income Ratio | -37.00% | 82.76% | 18.86% | 1.50% | -108.61% | -53.05% | -19.55% | 5.85% | 0.00% |
| Total Other Income/Expenses | 3.01M | 1.28M | -3.04M | 803.63K | 2.99M | 186.55K | 91.11K | 2.90K | 1.00 |
| Income Before Tax | -13.61M | -105.89M | 8.72M | 1.92M | -6.13M | -4.00M | -1.27M | 219.75K | -141.69K |
| Income Before Tax Ratio | -30.31% | -327.87% | 9.08% | 9.14% | -133.63% | -50.68% | -18.24% | 5.93% | 0.00% |
| Income Tax Expense | 279.04K | -592.85K | 3.86M | 3.03M | 806.80K | -461.17K | -271.54K | 54.94K | -35.42K |
| Net Income | -13.89M | -105.30M | 4.86M | -1.10M | -6.94M | -3.54M | -996.83K | 160.91K | -106.27K |
| Net Income Ratio | -30.93% | -326.03% | 5.06% | -5.24% | -151.21% | -44.84% | -14.34% | 4.34% | 0.00% |
| EPS | -0.16 | -1.34 | 0.09 | -0.04 | -0.46 | -0.25 | -0.08 | 0.01 | -0.01 |
| EPS Diluted | -0.16 | -1.34 | 0.09 | -0.04 | -0.46 | -0.25 | -0.08 | 0.01 | -0.01 |
| Weighted Avg Shares Out | 87.53M | 78.61M | 55.44M | 30.59M | 15.20M | 14.39M | 13.00M | 14.55M | 14.55M |
| Weighted Avg Shares Out (Dil) | 87.53M | 78.61M | 55.44M | 30.59M | 15.20M | 14.39M | 13.00M | 14.55M | 14.55M |
Bit Digital, Inc. Announces Finalized Terms for Contract Expansion with Major HPC Customer; Total Contract Value Now Worth Approximately $275 Million
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Bit Digital achieves $4.2M in AI contract revenue in May
Bit Digital Inc (NASDAQ:BTBT) told investors that during May it had 256 servers actively generating revenue from its Bit Digital AI Contract, which earned an estimated $4.2 million in unaudited revenue for the month. During May, the Bitcoin miner said it produced 63.3...
Bit Digital, Inc. Announces Monthly Production Update for May 2024
NEW YORK , June 5, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and...
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Bit Digital CEO talks ‘banner' Q1 results, expansion of high performance computing business
Bit Digital Inc (NASDAQ:BTBT) saw a surge in revenue for the first quarter driven by a rising Bitcoin price and its new high performance computing (HPC) services business. Revenue jumped 266% from the year-ago quarter to $30.3 million, including a...
Bit Digital, Inc. (BTBT) Q1 2024 Earnings Call Transcript
Bit Digital, Inc. (NASDAQ:BTBT ) Q1 2024 Earnings Conference Call May 16, 2024 10:00 AM ET Company Participants Cameron Schnier - Head of IR Sam Tabar - CEO Erke Huang - CFO Conference Call Participants Mike Grondahl - Northland Securities...
Bit Digital's earnings spike on higher bitcoin price, new AI wing
Bit Digital Inc (NASDAQ:BTBT) has reported a spike in revenue and earnings over the first quarter thanks to an increase in the price of bitcoin and its new artificial intelligence business. Revenue soared 266% to US$30.3 million over the first...
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