Bit Digital Inc Financials
This page shows Bit Digital Inc (BTBT) financial statements, including the 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).
Bit Digital’s recent growth is a capital-intensive asset build funded mainly by external financing, not by operating cash.
Revenue was only$113.6M , but capital spending reached$285.9M , so the asset base is being built much faster than the business currently monetizes it. Because operating cash flow was-$288.9M and financing inflow was$599.1M , the buildout was funded externally rather than by the installed assets themselves, extending the prior year’s pattern of negative cash generation despite reported profit.
Near-term liquidity is intact because cash of
The break in earnings quality was visible earlier: net income reached
Financial Health Signals
Scored against emerging companies 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 scores 1.29, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($593.7M) relative to total liabilities ($309.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Bit Digital Inc passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Bit Digital Inc generates $3.60 in operating cash flow (-$288.9M OCF vs -$80.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Bit Digital Inc earns $-29.7 in operating income for every $1 of interest expense (-$91.8M vs $3.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Bit Digital Inc generated $113.6M in revenue in fiscal year 2025. This represents an increase of 5.1% from the prior year.
Bit Digital Inc's EBITDA was -$55.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 191.9% from the prior year.
Bit Digital Inc reported -$80.3M in net income in fiscal year 2025. This represents a decrease of 383.7% from the prior year.
Bit Digital Inc earned $-0.31 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 263.2% from the prior year.
Cash & Balance Sheet
Bit Digital Inc generated -$574.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 437.3% from the prior year.
Bit Digital Inc held $118.4M in cash against $0 in long-term debt as of fiscal year 2025.
Bit Digital Inc had 324M shares outstanding in fiscal year 2025. This represents an increase of 81.0% from the prior year.
Margins & Returns
Bit Digital Inc's operating margin was -80.9% in fiscal year 2025, reflecting core business profitability. This is down 106.4 percentage points from the prior year.
Bit Digital Inc's net profit margin was -70.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 96.9 percentage points from the prior year.
Bit Digital Inc's ROE was -11.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 17.2 percentage points from the prior year.
Capital Allocation
Bit Digital Inc invested $285.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 204.2% from the prior year.
BTBT Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.9M-13.6% | $32.3M+6.1% | $30.5M+18.7% | $25.7M+2.2% | $25.1M-2.6% | $25.8M+12.9% | $22.8M-21.4% | $29.0M |
| Cost of Revenue | $9K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $453K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $27.6M+38.4% | $20.0M-39.7% | $33.1M+68.3% | $19.7M+138.8% | $8.2M-49.8% | $16.4M+19.8% | $13.7M+149.6% | $5.5M |
| Operating Income | -$142.9M+26.0% | -$193.0M-236.1% | $141.8M+1108.0% | $11.7M+122.4% | -$52.4M-283.8% | $28.5M+177.8% | -$36.6M-218.9% | -$11.5M |
| Interest Expense | $156K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $422K+108.5% | -$5.0M-812.1% | $698K-56.2% | $1.6M+136.9% | $672K-45.4% | $1.2M+95.9% | $628K+16.0% | $542K |
| Net Income | -$146.7M+22.1% | -$188.4M-224.8% | $150.9M+914.4% | $14.9M+125.8% | -$57.7M-299.2% | $29.0M+174.7% | -$38.8M-224.6% | -$12.0M |
| EPS (Diluted) | $-0.45 | N/A | $0.47+571.4% | $0.07+121.9% | $-0.32 | N/A | $-0.26-188.9% | $-0.09 |
BTBT Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+0.5% | $1.2B+3.6% | $1.1B+56.6% | $723.4M+49.1% | $485.2M-9.8% | $538.2M | N/A | N/A |
| Current Assets | $499.7M-15.8% | $593.7M-11.7% | $672.7M+114.4% | $313.8M+66.9% | $188.0M-36.7% | $296.9M | N/A | N/A |
| Cash & Equivalents | $79.5M-32.8% | $118.4M-33.9% | $179.1M-1.1% | $181.2M+214.8% | $57.6M-39.5% | $95.2M-9.8% | $105.6M+71.9% | $61.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $91.7M+283.4% | $23.9M+37.2% | $17.4M+168.7% | $6.5M+156.5% | $2.5M-52.0% | $5.3M | N/A | N/A |
| Goodwill | $19.8M-1.7% | $20.1M+1.5% | $19.8M-1.7% | $20.2M+4.9% | $19.2M-0.7% | $19.4M+0.4% | $19.3M | N/A |
| Total Liabilities | $572.0M+85.0% | $309.2M+253.3% | $87.5M-3.0% | $90.2M+33.0% | $67.8M-9.3% | $74.8M | N/A | N/A |
| Current Liabilities | $78.5M-15.5% | $92.9M+142.2% | $38.4M-4.3% | $40.1M-16.9% | $48.3M-12.3% | $55.0M | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $469.2M-35.2% | $724.0M-20.1% | $906.2M+43.1% | $633.2M+51.7% | $417.4M-9.9% | $463.5M+47.1% | $315.0M+6.7% | $295.3M |
| Retained Earnings | -$326.0M-82.6% | -$178.5M-1914.9% | $9.8M+107.0% | -$141.0M+9.5% | -$155.9M-58.8% | -$98.2M | N/A | N/A |
BTBT Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.1M+98.7% | -$84.1M+65.0% | -$240.0M-1456.2% | $17.7M+1.7% | $17.4M+137.6% | $7.3M-27.2% | $10.1M+205.9% | -$9.5M |
| Capital Expenditures | $169.2M+38.8% | $121.9M+622.5% | $16.9M-79.5% | $82.2M+26.5% | $65.0M-25.2% | $86.8M+5298.7% | $1.6M-68.4% | $5.1M |
| Free Cash Flow | -$170.3M+17.3% | -$206.0M+19.8% | -$256.8M-298.3% | -$64.5M-35.6% | -$47.6M+40.2% | -$79.5M-1040.8% | $8.5M+157.9% | -$14.6M |
| Investing Cash Flow | -$142.7M-15.7% | -$123.4M-679.7% | -$15.8M+81.0% | -$83.3M-28.2% | -$65.0M+48.0% | -$125.0M-621.4% | -$17.3M-180.2% | -$6.2M |
| Financing Cash Flow | $105.1M-28.2% | $146.4M-42.2% | $253.4M+33.4% | $189.9M+1925.5% | $9.4M-91.6% | $111.1M+116.1% | $51.4M+23.6% | $41.6M |
| Dividends Paid | $800K | $0 | $0 | $0-100.0% | $800K | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BTBT Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -511.8%+85.2pp | -597.0%-1062.4pp | 465.5%+419.7pp | 45.8%+254.3pp | -208.6%-319.1pp | 110.5%+270.8pp | -160.3%-120.8pp | -39.5% |
| Net Margin | -525.2%+57.4pp | -582.6%-1077.9pp | 495.3%+437.3pp | 58.0%+287.8pp | -229.9%-342.3pp | 112.4%+282.3pp | -169.9%-128.7pp | -41.2% |
| Return on Equity | -31.3%-5.2pp | -26.0%-42.7pp | 16.7%+14.3pp | 2.4%+16.2pp | -13.8%-20.1pp | 6.3%+18.6pp | -12.3%-8.3pp | -4.0% |
| Return on Assets | -12.4%+3.6pp | -16.0%-29.4pp | 13.3%+11.3pp | 2.1%+14.0pp | -11.9%-17.3pp | 5.4% | N/A | N/A |
| Current Ratio | 6.36-0.0 | 6.39-11.1 | 17.53+9.7 | 7.83+3.9 | 3.90-1.5 | 5.39 | N/A | N/A |
| Debt-to-Equity | 1.22+0.8 | 0.43+0.3 | 0.10-0.0 | 0.14-0.0 | 0.160.0 | 0.16 | N/A | N/A |
| FCF Margin | -609.7%+27.3pp | -637.0%+206.0pp | -843.1%-591.7pp | -251.3%-61.9pp | -189.4%+119.0pp | -308.4%-345.4pp | 37.0%+87.2pp | -50.2% |
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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) generated -$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) generated -$288.9M in operating cash flow during fiscal year 2025, representing cash generated from 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 6.39 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 cash runway?
Based on fiscal year 2025 data, Bit Digital Inc (BTBT) had $118.4M in cash against an annual operating cash burn of $288.9M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Bit Digital Inc's Altman Z-Score?
Bit Digital Inc (BTBT) has an Altman Z-Score of 1.29, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Bit Digital Inc's Piotroski F-Score?
Bit Digital Inc (BTBT) has a Piotroski F-Score of 1 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) has an earnings quality ratio of 3.60x, considered low quality (accrual-driven). 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) has an interest coverage ratio of -29.7x, meaning it can struggle to cover its interest obligations. 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 30 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.