STOCKS TELEGRAPH

Tag: Bit Digital

  • Bit Digital (BTBT) Records Upswing After Pivot Toward Ethereum Reserves

    Bit Digital (BTBT) Records Upswing After Pivot Toward Ethereum Reserves

    Bit Digital, Inc. (NASDAQ: BTBT) is on a significant uptick, with shares climbing 19.19% to reach $3.50 as of the last check. The surge followed the company’s announcement of the full execution of its Ethereum-focused treasury strategy.

    Major Treasury Realignment

    The decision came after Bit Digital successfully completed an underwritten public offering, generating approximately $172 million in gross proceeds. A substantial portion of these funds has since been deployed to acquire Ethereum (ETH). In a complementary move, the company also liquidated roughly 280 Bitcoins, reallocating the proceeds toward additional ETH purchases.

    Expanding Ethereum Holdings

    As of March 31, 2025, Bit Digital held 24,434 ETH; this amount has since grown to nearly 100,603 ETH. The increase shows how confident Bit Digital is in Ethereum’s financial and technological potential. The company thinks Ethereum is a game-changer in the developing digital economy because of its programmable structure, growing usage, and staking possibilities.

    Establishing a Focused Ethereum Strategy

    By consolidating its digital asset reserves in Ethereum, Bit Digital aims to position itself as the foremost Ethereum treasury platform among publicly traded entities. The company asserts this strategic pivot will lay the groundwork for its emergence as the largest ETH-holding firm globally. While its current exposure exceeds 100,000 ETH, Bit Digital has expressed intentions to continue expanding its position aggressively.

    Public Offering and Capital Deployment

    The company recently concluded a sizable equity offering to fund its Ethereum initiative. On July 1, 2025, underwriters exercised their full option to purchase an additional 11,250,000 ordinary shares, yielding approximately $21.4 million in net proceeds prior to expenses. With the full allotment exercised, Bit Digital issued a total of 86,250,000 ordinary shares.

    The final net proceeds from the entire offering, inclusive of the additional shares, amounted to roughly $162.9 million. Bit Digital’s decisive treasury realignment reflects a bold commitment to Ethereum’s future as a foundational element of the digital asset space.

  • Bit Digital (BTBT) Stock Experiences Notable Pre-Market Surge

    Bit Digital (BTBT) Stock Experiences Notable Pre-Market Surge

    Bit Digital, Inc. (NASDAQ: BTBT) has observed a significant uptick in its stock value on the US stock exchange today. As of the latest update, the company’s shares have risen by 15.05% in pre-market trading, reaching a price of $13.44.

    This substantial increase is primarily attributed to the recent disclosure of its financial results and a strategic agreement within the high-performance computing (HPC) sector.

    Bit Digital Shared Impressive Financial Results and Strategic Agreement

    For Bit Digital, the second quarter of 2024 was a critical time. The April halving event resulted in a decrease in block rewards; yet, overall income for the corporation more than doubled to $29.0 million from the prior year. The addition of income from its HPC services business, which contributed for the first time in a full quarter, was a major factor in this remarkable development.

    One of Bit Digital’s key advantages is still its strong financial sheet, which has $191.9 million in total assets. The organization is in a strong financial position to handle the volatility of the market and make investments in high-return possibilities. Nonetheless, there are still financial difficulties facing the mining industry.

    Without a significant improvement in payback periods for mining equipment, it is unlikely that Bit Digital will meet its target of achieving an active hash rate of 6.0 EH/s by the end of 2024. The company has been cautious about expanding its exahash capacity, opting to wait for more favorable post-halving conditions before pursuing substantial growth.

    BTBT entered New Agreement with Boosteroid

    In addition to its financial achievements, Bit Digital has announced a binding term sheet with Boosteroid Inc., marking a new client for its HPC services. The agreement is contingent upon further due diligence, legal reviews, and internal approvals, with a master service agreement (MSA) expected to be finalized soon.

    Under this agreement, Boosteroid is set to make an initial purchase of GPU servers with a service commitment extending over five years. This initial order is projected to generate approximately $13 million in revenue for Bit Digital over the MSA’s term, equating to roughly $2.6 million annually.

    Boosteroid will have the option to order additional servers, up to a total of 50,000 units within five years, potentially resulting in over $700 million in revenue, contingent on deployment plans and market conditions.

    The initial deployment will feature GPU servers equipped with AMD EPYC 4th Gen CPUs and RX7900XT GPUs, customized by ASUSTeK Computer Inc. (ASUS) and AMD, with deployment slated to begin within the next two to three months across more than 10 data centers in the U.S. and Europe.

  • Bit Digital (BTBT) Stock: What Is Driving It Higher In Pre-hour Trades?

    Shares of Bit Digital Inc. (BTBT) are trading at $4.98, up 17.73% in premarket trading on Monday. Bit Digital stock declined -7.24% to finish last trade at $4.23. A volume of 1.13 million shares was recorded on the Bit Digital stock last trading day, which is below the 2.58 million shares per day average for the last 50 days. Bit Digital stock is up this morning due to the expansion of a digital partnership.

    Which collaboration did BTBT have?

    Bitcoin mining company BTBT owns one of the largest fleets among US-listed bitcoin miners with more than 1.9 EH. In addition to its New York headquarters and Miami Beach office, Bit Digital has mining operations in the United States and Canada.

    A second strategic co-mining agreement (the “Agreement”) between Bit Digital and Digihost Technology was announced today.

    • As part of the Agreement, Digihost will provide certain premises for Bit  Digitalto operate a 100-megawatt Bitcoin mining system. BTBT will operate the system for two years.
    • Digihost’s expanded partnership with BTBT will be able to facilitate an additional increase in hashrate of around 2 EH.
    • Including the initial collaboration agreement announced on June 10, 2021, this will increase hashrate by approximately 2.4 EH across both companies.
    • BTBT Miners will be powered and managed by Digihost in accordance with the agreement.
    • As compensation for these services, Digihost and BTBT will participate in a profit-sharing agreement based on a fixed distribution formula after paying Digihost a competitive rate for power.
    • BTBT expects to start installing the Miners in January 2022.
    • The joint effort between Digihost and BTBT could deliver significant results based on the current Bitcoin metrics through the addition of 2.4 EH to each company’s overall hashrate.
    • Digihost’s strategy remains to build its mining infrastructure, vertically integrate green sources of energy, and develop strategic partnerships with leading blockchain companies, while maintaining a focus on becoming an industry leader in sustainable development.

    How Bit Digital will be leveraged? 

    Bit Digital (BTBT) has contracted to sign this agreement that secures power and hosting sufficient for completing the migration of its current fleet to North America and additional capacity for the anticipated miner purchases. Due to the dislocation of the spot market in China and BTBT’s unique access to that market, the company anticipates significant purchases within the coming months. BTBT’s collaboration with Digihost secures a key element of this opportunity, and it will enable rapid deployment of newly acquired mining hardware.

  • Bit Digital, Inc. (BTBT) Stock Prices Surge Following Announcement of Strategic Partnership with Digihost Amid Meme Stock Craze

    Bit Digital, Inc. (BTBT) stock prices skyrocketed by a massive 26.16% shortly after market trading commenced on June 14th 2021, bringing the price up to USD$9.77 early on in the trading day.

    Meme Stock Phenomenon

    With the recent proliferation of the meme stock craze taking over stock markets, akin to the GME and AMC episodes from earlier in the year, BTBT seems to be the latest target of the meme stock phenomenon. In the absence of any significant news or developments, the recent surge in PROG stock prices is likely to be attributable to the coordinated pump by investors who are users of the popular social media platform, Reddit.

    Agreement with Digihost

    The company recently announced entering into a strategic co-mining agreement with Digihost Technology Inc (DGHI). As per the agreement, DGHI will provide certain premises to BTBT to facilitate the operation and storage of a 20 MW Bitcoin mining system that will be delivered by BTBT. DGHI will also facilitate the provision of services to maintain the premises for a term of two years. The collaborative efforts of both companies are forecasted to result in an increased generation of hashrate in the amount of almost 400 PH between the two.

    Terms of Agreement

    As per the agreement, DGHI will be responsible or the provision of power for the operation of the Miners, as well as for management services that will be essential in maintaining the planned 95% uptime on the Miners. In return, DGHI will be paid a very competitive rate for power. The two companies will also participate in a profit sharing arrangement based on a fixed distribution formula. The delivery and installation of the Miners is expected for the fourth quarter of the fiscal year 2021.

    Scope of Agreement

    The company expects an increase in hashrate of 400 PH between them, based on current Bitcoin metrics, which will signal a massive collaborative success on the part of the joint venture. BTBT continues to expand its business strategy through the expansion of the company’s mining infrastructure, vertical integration of low-cost and green sources of energy, strategic partnerships within the blockchain sector, and geographic diversification across North America. These steps serve to strategically operating the business in regions where the carbon footprint being generated is minimal or non-existent.

    Future Outlook for BTBT

    Armed with a potentially lucrative strategic partnership, as well as the fortuitous surge in the value of their equity, BTBT is poised to capitalize on the opportunities presented to it. The company is keen to continue its trajectory of success and usher in more organic growth over the long-term. Current and potential investors are hopeful that the management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Why Bit Digital, Inc. (BTBT) stock is gaining today?

    Why Bit Digital, Inc. (BTBT) stock is gaining today?

    Shares of the Bit Digital, Inc. (BTBT) stock were gaining in the pre-market trading session today after experiencing the fall in the last trading session. BTBT stock price surged by 9.47% to reach $15.60 a share as of this writing. In the previous trading session, BTBT went up by 25% in the early day but then it went down and closed with a 6.74% drop. Let’s deep dive to explore more of it.

    What’s happening?

    The rising stock price of BTBT stock is not attributed to any activity of Bit Digital today. Neither the BTBT stock announced any news, nor any analyst upgraded the Bit stock. BTBT was happened to be green at one time before dropping in the last trading session due to the increasing prices of Bitcoin in recent days. Bit Digital is known for mining bitcoin and is headquartered in New York.

    Previous activity by Bit Digital:

    On April 12, 2021, BTBT appointed Bryan Bullett and Sam Tabar as Chief Executive Officer and Chief Strategy Officer, respectively. Erke Huang will remain to serve as the Chief Financial Officer of Bit Digital. The new appointments in Bit Digital are due to the intention of rapid growth as well as accessing new strategic opportunities. Mr. Bryan Bullett has experience of 20 years in investment banking capital, financial technology, and financial services. Mr. Sam Tabar has been working on financial technology, financial services, and law for more than 20 years.

    BTBT stock development in Mining Capacity:

    Back to the previous week, on April 06, 2021, BTBT stock did announce the completion of purchasing 4,871 bitcoin miners representing the hash rate of 324 Ph/s in Q1 of 2021. Bit Digital hash rate would increase to 2,574 Ph/s from 2,250 Ph/s after the deployment of all the newly purchased miners in North America. Installation of these miners would result in a declined average utility cost and increased daily bitcoin production capacity of Bit Digital.

    Financial View of BTBT stock.

    The recently announced full-year results of 2020 by BTBT stock this month explain that Bit Digital generated $21.07 million revenue in 2020 and its net income was $1.92 million as compared to a net loss of $2.00 million in the previous year. Total assets of $39.89 million represented a  whooping surge of 783.28% as compared to 2019.

    Conclusion:

    Bit Digital stock has been hot among the investors as far as market sentiment is concerned despite no activity by BTBT stock today, but the recent past developments and earnings report show that BTBT stock is growing with time and playing the lead role in the bitcoin miners. In short BTBT stock can be a good bet for investors in the long run.

  • Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    China Automotive Systems Inc. (CAAS) stock soared 2.38% to $10.75 in the pre-market trading after reporting that it shipped approximately 120,000 units from its portfolio of electric power steering products for use in Chinese electric vehicles during 2020. The most recent rating by Brean Murray, on August 15, 2011, is a Hold.
    Before the trading started on December 01, 2020, G1 Therapeutics Inc. (GTHX) is up 4.05% to reach $19.0. It has been trading in a 52-week range of $8.80 to $31.38.
    Sundial Growers Inc. (NASDAQ: SNDL) shares are trading up 29.83% at $0.947 at the time of writing following the announcement its elimination of senior secured second lien convertible notes. Company’s 52-week ranged between $0.14 to $3.88.
    Jaguar Health Inc. (JAGX) grew over 69.45% at $0.5929 in pre-market trading today.
    SuperCom Ltd. (SPCB) stock moved down -10.74 percent to $1.08 in the pre-market trading and the company recently declared that it has secured a contract to provide its PureSecurity Electronic Monitoring (EM) suite in Wisconsin.
    MicroStrategy Incorporated (NASDAQ: MSTR) shares are trading up 4.93% at $359.66 at the time of writing. Company’s 52-week ranged between $90.00 to $280.00. Analysts have a consensus price target of $200.
    Veritone Inc. (VERI) grew over 4.4% at $27.78 in pre-market trading today after announcing that it now supports NVIDIA CUDA for GPU-based AI and machine learning.
    Before the trading started on December 01, 2020, Creative Realities Inc. (CREX) is down -7.26% to reach $1.15. It has been trading in a 52-week range of $0.52 to $5.98.
    Moderna Inc. (MRNA) stock soared 10.32% to $168.5 in the pre-market trading after declaring that the primary efficacy analysis of the Phase 3 study of mRNA-1273 conducted on 196 cases confirms the high efficacy observed at the first interim analysis. The most recent rating by Wells Fargo, on November 23, 2020, is an Equal weight.
    VBI Vaccines Inc. (VBIV), a Biotechnology company, rose about 3.94% at $3.56 in pre-market trading Tuesday.
    Schultze Special Purpose Acquisition Corp. (SAMA) stock moved up 2.86 percent to $12.6 in the pre-market trading after reporting effectiveness of registration statement for proposed business combination with Clever Leaves International Inc.
    Celsion Corporation (CLSN) gained over 5.59% at $0.71 in pre-market trading Tuesday December 01, 2020.
    Nano-X Imaging Ltd. (NNOX) is up more than 5.22% at $64.5 in pre-market hours Tuesday December 01, 2020. The healthcare firm lately announced revised time of live demonstration at the 2020 radiology society of North America virtual annual meeting. The stock had jumped over 17.21% to $61.30 in the last trading session.
    Before the trading started on December 01, 2020, Greenlane Holdings Inc. (GNLN) is up 2.89% to reach $4.27. It has been trading in a 52-week range of $1.02 to $4.20.
    Mogo Inc. (MOGO) stock soared 3.77% to $2.75 in the pre-market trading. The firm recently declared the release of its new updated Mogo app featuring an interactive Rainforest Mode as part of the MogoCard experience. The most recent rating by Raymond James, on July 23, 2020, is an Outperform.
    Altimmune Inc. (NASDAQ: ALT) shares are trading up 9.57% at $13.4 at the time of writing. Company’s 52-week ranged between $1.60 to $35.10. Analysts have a consensus price target of $28.
    Novavax Inc. (NVAX) grew over 6.09% at $148.0 in pre-market trading today following publication its COVID-19 vaccine clinical development progress.
    Marathon Patent Group Inc. (MARA), a Capital Markets company, rose about 7.96% at $6.78 in pre-market trading Tuesday.
    Aphria Inc. (APHA) is up more than 3.46% at $8.67 in pre-market hours Tuesday December 01, 2020. The healthcare company recently revealed that it has closed the accretive, strategic acquisition of SW Brewing Company, LLC. The stock had jumped over 8.41% to $8.38 in the last trading session.
    AquaBounty Technologies Inc. (AQB) gained over 4.31% at $6.05 in pre-market trading Tuesday December 01, 2020.
    Before the trading started on December 01, 2020, ADMA Biologics Inc. (ADMA) is up 2.45% to reach $2.09 following the announcement its commencement of operations and initiation of collections at its newest ADMA BioCenters plasma collection facility located in Maryville, Tennessee. It has been trading in a 52-week range of $1.45 to $4.95.
    CureVac N.V. (CVAC) is down more than -3.12% at $101.89 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 22.29% to $105.17 in the last trading session.
    OrganiGram Holdings Inc. (OGI) gained over 4.26% at $1.47 in pre-market trading Tuesday December 01, 2020 after releasing its results for the fourth quarter ended August 31, 2020.
    FuelCell Energy Inc. (FCEL) is down more than -3.43% at $9.85 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 5.26% to $10.20 in the last trading session.
    SSR Mining Inc. (SSRM) grew over 2.12% at $18.8 in pre-market trading today. The company lately publicized that positive results of the Çöpler District master plan studies.
    Before the trading started on December 01, 2020, Entasis Therapeutics Holdings Inc. (ETTX) is up 4.35% to reach $1.92. It has been trading in a 52-week range of $1.58 to $5.64.
    Luokung Technology Corp. (LKCO) is up more than 2.93% at $0.6 in pre-market hours Tuesday December 01, 2020 after the firm reported that it won bid for Heilongjiang Institute of Technology (“HIT”) Smart Campus first phase procurement project of USD 1.3 million. The stock had jumped over 4.09% to $0.58 in the last trading session.
    Riot Blockchain Inc. (RIOT) is up more than 3.55% at $8.75 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 35.20% to $8.45 in the last trading session.
    Before the trading started on December 01, 2020, Dada Nexus Limited (DADA) is down -4.28% to reach $55.47 after declaring proposed follow-on public offering of American depositary shares. It has been trading in a 52-week range of $14.60 to $56.91.
    Logitech International S.A. (NASDAQ: LOGI) shares are trading down -3.3% at $87.32 at the time of writing. Company’s 52-week ranged between $31.37 to $95.71.
    Advaxis Inc. (ADXS), a Biotechnology company, rose about 11.86% at $0.33 in pre-market trading Tuesday. The biotechnology firm recently declared closing of $9.2 million public offering.
    Arbutus Biopharma Corporation (NASDAQ: ABUS) shares are trading up 11.26% at $5.04 at the time of writing. Company’s 52-week ranged between $0.88 to $9.02. Analysts have a consensus price target of $8.