Bit Digital, Inc. (BTBT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BTBT SEC filings page.
Bit Digital, Inc. (BTBT) reported $122.8M in revenue over the twelve months to Jun 30, 2026, up 23.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The asset base expanded through heavy investment and financing, but FY2025 converted that expansion into deeper losses and cash outflows.
FY2024 reported net income of$28.3M while operating cash flow was-$13.0M , so reported profitability was not funding operations. By FY2025, cash conversion deteriorated sharply: operating cash flow reached-$288.9M and free cash flow reached-$574.9M , showing the earnings reversal coincided with a much heavier cash requirement.
Total assets more than doubled from
Revenue increased only from
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Bit Digital, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Bit Digital, Inc. earned a return on assets of -6.8% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 5.3% the prior year. Earnings ranks banks on that return over three years, and Bit Digital, Inc. scores 9/100 among other banks.
Bit Digital, Inc. reported revenue of $113.6M in fiscal year 2025, against $108.1M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Bit Digital, Inc. scores 94/100 among other banks.
Bit Digital, Inc. funded 61.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $724.0M of equity against $1.2B of assets. Capital ranks banks on that cushion, and Bit Digital, Inc. scores 96/100 among other banks.
Not available for Bit Digital, Inc., and counted as zero in the overall score.
Not available for Bit Digital, Inc., and counted as zero in the overall score.
Bit Digital, Inc. reported a net loss of $80.3M in fiscal year 2025, against $28.3M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Bit Digital, Inc. scores 13/100 among other banks.
Bit Digital, Inc. passes 0 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Bit Digital, Inc. reported a net loss of $80.3M while operations used $288.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Bit Digital, Inc. reported an operating loss of $91.8M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Bit Digital, Inc. generated $32.1M in revenue in Q2 2026. This represents an increase of 25.2% from the same quarter a year earlier. Against the prior quarter it is up 15.0%.
Bit Digital, Inc.'s EBITDA was -$72.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 463.3% from the same quarter a year earlier. Against the prior quarter it is up 45.4%.
Bit Digital, Inc. reported -$107.2M in net income in Q2 2026. This represents a decrease of 820.8% from the same quarter a year earlier. Against the prior quarter it is up 26.9%.
Bit Digital, Inc. earned -$0.31 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 31.1%.
Cash & Balance Sheet
Bit Digital, Inc. recorded an outflow of $127.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 98.0% from the same quarter a year earlier. Against the prior quarter it is up 25.0%.
Bit Digital, Inc. held $83.6M in cash against $25.5M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Bit Digital, Inc.'s ROE was -27.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 29.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.1 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Bit Digital, Inc. invested $175.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 113.6% from the same quarter a year earlier. Against the prior quarter it is up 3.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BTBT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.1M+25.2% | $27.9M+11.2% | $32.3M+25.4% | $30.5M+33.4% | $25.7M-11.7% | $25.1M-17.4% | $25.8M | $22.8M |
| SG&A Expenses | $22.6M+14.8% | $27.6M+235.4% | $20.0M+21.8% | $33.1M+141.9% | $19.7M+258.9% | $8.2M+38.3% | $16.4M | $13.7M |
| Operating Income | -$82.6M-803.8% | -$142.9M-172.9% | -$193.0M-777.3% | $141.8M+487.3% | $11.7M+202.2% | -$52.4M-211.0% | $28.5M | -$36.6M |
| EBITDA | -$72.5M-463.3% | -$132.9M-194.5% | -$181.3M-586.9% | $151.4M+636.5% | $20.0M+737.0% | -$45.1M-183.6% | $37.2M | -$28.2M |
| Interest Expense | $100K | $156K | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$1.5M-191.7% | $422K-37.2% | -$5.0M-503.7% | $698K+11.1% | $1.6M+193.8% | $672K-57.4% | $1.2M | $628K |
| Net Income | -$107.2M-820.8% | -$146.7M-154.1% | -$188.4M-750.1% | $150.9M+488.9% | $14.9M+224.4% | -$57.7M-215.2% | $29.0M | -$38.8M |
| EPS (Basic) | -$0.31-542.9% | -$0.45-40.6% | -$0.77-466.7% | $0.48+284.6% | $0.07+177.8% | -$0.32-172.7% | $0.21 | -$0.26 |
| EPS (Diluted) | -$0.31 | -$0.45 | -$0.77 | $0.47 | $0.07 | -$0.32 | $0.20 | -$0.26 |
| Diluted Shares (Avg) | 350M | 326M | N/A | 319M | 209M | 181M | N/A | 150M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
BTBT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+70.8% | $1.2B+143.3% | $1.2B+118.2% | $1.1B | $723.4M | $485.2M | $538.2M+184.3% | N/A |
| Current Assets | $245.5M-21.8% | $499.7M+165.8% | $178.0M-40.0% | $672.7M | $313.8M | $188.0M | $296.9M+256.2% | N/A |
| Cash & Equivalents | $83.6M-53.9% | $79.5M+38.2% | $118.4M+24.3% | $179.1M+69.6% | $181.2M+194.9% | $57.6M+62.2% | $95.2M+464.6% | $105.6M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $23.2M+258.0% | $91.7M+3523.8% | $23.9M+354.1% | $17.4M | $6.5M | $2.5M | $5.3M | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $19.4M-3.9% | $19.8M+2.9% | $20.1M+3.9% | $19.8M+2.8% | $20.2M | $19.2M | $19.4M | $19.3M |
| Total Liabilities | $703.8M+680.0% | $572.0M+743.3% | $309.2M+313.5% | $87.5M | $90.2M | $67.8M | $74.8M+104.1% | N/A |
| Current Liabilities | $162.5M+305.3% | $78.5M+62.8% | $92.9M+68.9% | $38.4M | $40.1M | $48.3M | $55.0M+103.2% | N/A |
| Non-Current Liabilities | $541.3M+979.6% | $493.5M+2420.2% | $216.2M+995.2% | $49.1M | $50.1M | $19.6M | $19.7M+106.9% | N/A |
| Long-Term Debt | $25.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $395.2M-37.6% | $469.2M+12.4% | $724.0M+56.2% | $906.2M+187.7% | $633.2M+114.4% | $417.4M+57.4% | $463.5M+203.5% | $315.0M |
| Retained Earnings | -$433.2M-207.1% | -$326.0M-109.1% | -$178.5M-81.8% | $9.8M | -$141.0M | -$155.9M | -$98.2M+33.1% | N/A |
Not reported in any period shown, so not listed: Inventory.
BTBT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $47.9M+170.5% | -$1.1M-106.3% | -$84.1M-1247.7% | -$240.0M-2485.5% | $17.7M+286.2% | $17.4M+183.4% | $7.3M | $10.1M |
| Depreciation & Amortization | $10.1M+22.7% | $10.0M+38.6% | $11.7M+34.1% | $9.6M+14.9% | $8.2M-1.5% | $7.2M+5.8% | $8.7M | $8.4M |
| Stock-Based Compensation | $100K-80.0% | $15.3M+5963.6% | N/A | $577K | $500K | $252K-48.8% | N/A | N/A |
| Capital Expenditures | $175.5M+113.6% | $169.2M+160.4% | $121.9M+40.4% | $16.9M+949.0% | $82.2M+1515.9% | $65.0M+13593.1% | $86.8M | $1.6M |
| Free Cash Flow | -$127.7M-98.0% | -$170.3M-258.0% | -$206.0M-159.0% | -$256.8M-3139.2% | -$64.5M-342.0% | -$47.6M-122.8% | -$79.5M | $8.5M |
| Investing Cash Flow | -$169.8M-103.9% | -$142.7M-119.6% | -$123.4M+1.3% | -$15.8M+8.7% | -$83.3M-1246.3% | -$65.0M-13593.1% | -$125.0M | -$17.3M |
| Financing Cash Flow | $125.6M-33.9% | $105.1M+1021.3% | $146.4M+31.7% | $253.4M+392.6% | $189.9M+356.3% | $9.4M-75.7% | $111.1M | $51.4M |
| Dividends Paid | $0 | $800K0.0% | $0 | $0 | $0 | $800K | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
BTBT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -257.3% | -511.8% | -596.9% | 465.5% | 45.8%+85.3pp | -208.6% | 110.5% | -160.3% |
| Net Margin | -333.9% | -525.2% | -582.6% | 495.3% | 58.0%+99.1pp | -229.9% | 112.4% | -169.9% |
| Return on Equity | -27.1%-29.5pp | -31.3%-17.4pp | -26.0%-32.3pp | 16.7%+29.0pp | 2.4%+6.4pp | -13.8%-32.7pp | 6.3% | -12.3% |
| Return on Assets | -8.7%-10.7pp | -12.4%-0.5pp | -16.0%-21.4pp | 13.3% | 2.1% | -11.9% | 5.4% | N/A |
| Current Ratio | 1.51-6.3x | 6.36+2.5x | 1.92-3.5x | 17.53 | 7.83 | 3.90 | 5.39+2.3x | N/A |
| Debt-to-Equity | 0.06-0.1x | 1.22+1.1x | 0.43+0.3x | 0.10 | 0.14 | 0.16 | 0.16-0.1x | N/A |
| Asset Turnover | 0.030.0x | 0.020.0x | 0.030.0x | 0.03 | 0.04 | 0.05 | 0.05 | N/A |
| FCF Margin | -397.6% | -609.7% | -637.0% | -843.1% | -251.3% | -189.4% | -308.4% | 37.0% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Bit Digital, Inc. BTBT | FY2025 | $113.6M | -$80.3M | -70.7% | $465.2M | 35/100 |
| HIVE Digital Technologies Ltd. HIVE | FY2026 | $297.8M | -$148.4M | -49.9% | $685.7M | 35/100 |
| Bitfarms Ltd. BITF | FY2025 | $229.3M | -$284.5M | N/A | $1.2B | 35/100 |
| Oppenheimer Holdings, Inc. OPY | FY2025 | $1.6B | $148.4M | 9.1% | $1.2B | 47/100 |
| BitFuFu Inc. FUFU | FY2025 | $477.5M | -$31.3M | -6.5% | $229.2M | 39/100 |
| Cango Inc. CANG | FY2025 | $688.1M | -$622.0M | -90.4% | $146.0M | 18/100 |
Where Bit Digital, Inc. Ranks
Frequently Asked Questions
What is Bit Digital, Inc.'s annual revenue?
Bit Digital, Inc. (BTBT) reported $113.6M in total revenue for fiscal year 2025. This represents a 5.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Bit Digital, Inc.'s revenue growing?
Bit Digital, Inc. (BTBT) revenue grew by 5.1% year-over-year, from $108.1M to $113.6M in fiscal year 2025.
Is Bit Digital, Inc. profitable?
No, Bit Digital, Inc. (BTBT) reported a net income of -$80.3M in fiscal year 2025, with a net profit margin of -70.7%.
What is Bit Digital, Inc.'s EBITDA?
Bit Digital, Inc. (BTBT) had EBITDA of -$55.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Bit Digital, Inc.'s operating margin?
Bit Digital, Inc. (BTBT) had an operating margin of -80.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Bit Digital, Inc.'s net profit margin?
Bit Digital, Inc. (BTBT) had a net profit margin of -70.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Bit Digital, Inc.'s return on equity (ROE)?
Bit Digital, Inc. (BTBT) has a return on equity of -11.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Bit Digital, Inc.'s free cash flow?
Bit Digital, Inc. (BTBT) recorded an outflow of $574.9M in free cash flow during fiscal year 2025. This represents a -437.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Bit Digital, Inc.'s operating cash flow?
Bit Digital, Inc. (BTBT) recorded an outflow of $288.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Bit Digital, Inc.'s total assets?
Bit Digital, Inc. (BTBT) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Bit Digital, Inc.'s capital expenditures?
Bit Digital, Inc. (BTBT) invested $285.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Bit Digital, Inc.'s current ratio?
Bit Digital, Inc. (BTBT) had a current ratio of 1.92 as of fiscal year 2025, which is generally considered healthy.
What is Bit Digital, Inc.'s debt-to-equity ratio?
Bit Digital, Inc. (BTBT) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bit Digital, Inc.'s return on assets (ROA)?
Bit Digital, Inc. (BTBT) had a return on assets of -6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bit Digital, Inc.'s P/E ratio?
Bit Digital, Inc. (BTBT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $465.2M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bit Digital, Inc.'s price-to-sales ratio?
Bit Digital, Inc. (BTBT) trades at 3.8x sales, its market capitalization divided by revenue of $122.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $465.2M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bit Digital, Inc.'s Piotroski F-Score?
Bit Digital, Inc. (BTBT) has a Piotroski F-Score of 0 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bit Digital, Inc.'s earnings high quality?
Bit Digital, Inc. (BTBT) reported a net loss of $80.3M while operations used $288.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Bit Digital, Inc. cover its interest payments?
Bit Digital, Inc. (BTBT) reported an operating loss of $91.8M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Bit Digital, Inc.?
Bit Digital, Inc. (BTBT) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.