Bit Digital Inc Stock Price, News & Analysis

Bit Digital (NASDAQ:BTBT) has completed a strategic shift to become a major Ethereum-focused treasury company. The company raised $172 million through a public offering and sold 280 BTC to acquire Ethereum, bringing its total ETH holdings to approximately 100,603 ETH.

Led by CEO Sam Tabar, Bit Digital has transformed from its previous Bitcoin position to become one of the largest corporate ETH holders among public companies. The company held 24,434 ETH as of March 31, 2025, and has significantly expanded its position through recent acquisitions, with plans to continue growing its ETH holdings aggressively.

Bit Digital (NASDAQ: BTBT) announced that underwriters have fully exercised their option to purchase an additional 11.25 million ordinary shares, generating approximately $21.4 million in additional net proceeds. Combined with the initial offering, the company raised total net proceeds of approximately $162.9 million through the issuance of 86.25 million ordinary shares.

The underwriters' option exercise closed on July 1, 2025. B. Riley Securities served as the sole bookrunning manager, while Clear Street, Craig-Hallum, and Northland Capital Markets acted as co-managers. The company plans to use the proceeds to purchase Ethereum. The offering was made pursuant to a shelf registration statement on Form S-3 that was declared effective on June 20, 2025.

Bit Digital (NASDAQ:BTBT) has announced the pricing of an underwritten public offering of 75 million ordinary shares at $2.00 per share, aiming to raise $150 million in gross proceeds. The company plans to use the net proceeds to purchase Ethereum.

The offering includes a 30-day option for underwriters to purchase an additional 11.25 million shares. The offering is expected to close around June 27, 2025. B. Riley Securities serves as the sole bookrunning manager, with Clear Street, Craig-Hallum, and Northland Capital Markets acting as co-managers.

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.