Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 14 Apr, 26 | BTBT | Buy | USD 1.44 | USD 1.52 | USD 1.6 | 3 days | Closed |
11.46%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Bit Digital, Inc., together with its subsidiaries, engages in the institutional grade ethereum treasury and staking business. The company designs and operates data centers that provides hosting and colocation services; and cloud solutions for AI training and inference workloads. It is also involved in digital asset mining business. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020. Bit Digital, Inc. was founded in 2015 and is headquartered in New York, New York.
Increase in Digital Assets Holdings: USD 415.7 Mn in FY25 vs USD 161.4 Mn in FY24
Growth in Total Revenue: USD 113.6 Mn in FY25 vs USD 108.0 Mn in FY24
Decline in Adjusted EBITDA: USD (24.9) Mn in FY25 vs USD 73.0 Mn in FY24
Decline in Digital Asset Mining Revenue: USD 27.3 Mn in FY25 vs USD 58.6 Mn in FY24
High dependence on cryptocurrency price movements and execution risks associated with transitioning from bitcoin mining to Ethereum staking and AI infrastructure exposure may lead to earnings volatility and capital allocation uncertainties
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 1.44 | 1.3 | 1.52 | 1.6 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Revenue Growth Supported by Diversification: Bit Digital, Inc. reported total revenue of USD 113.6 Mn in FY25, reflecting a 5% increase compared to USD 108.0 Mn in FY24. The growth was primarily driven by strong expansion in cloud and colocation services, along with higher contribution from Ethereum (ETH) staking. However, this was partially offset by a significant decline in digital asset mining revenue as the company continued to scale down its legacy bitcoin mining operations.
Decline in Mining Business Amid Strategic Shift: Revenue from digital asset mining declined sharply to USD 27.3 Mn in FY25 from USD 58.6 Mn in FY24, representing a 53% decrease. This reduction was largely attributed to increased network difficulty and a deliberate reduction in active hash rate, as the company strategically exited capital-intensive mining operations in favor of higher-return segments aligned with its evolving business model.
Strong Expansion in Cloud and Colocation Services: The company witnessed robust growth in its infrastructure-related offerings, with cloud services revenue increasing to USD 68.8 Mn in FY25 from USD 45.7 Mn in FY24, marking a 50% rise. Additionally, colocation services surged significantly to USD 8.9 Mn from USD 1.4 Mn, indicating a 555% increase. These segments reflect growing demand for high-performance computing and AI infrastructure, supported by the company’s exposure through WhiteFiber.
Accelerated Growth in ETH Staking Revenue: ETH staking revenue rose substantially to USD 7.0 Mn in FY25 from USD 1.8 Mn in FY24, reflecting a 287% increase. The growth was supported by higher staking rewards, increased staked balances, and favorable ETH pricing during the year. The company significantly expanded its ETH holdings to 155,227 ETH as of December 31, 2025, compared to 30,663 ETH as of June 30, 2025, with approximately 89% of holdings actively staked.
Profitability Impacted by Crypto Market Volatility: The company reported a net loss of USD (80.3) Mn in FY25 compared to a net income of USD 28.3 Mn in FY24. Adjusted EBITDA also declined to USD (24.9) Mn from USD 73.0 Mn in the prior year. This deterioration was primarily driven by volatility in digital asset prices, resulting in a loss of approximately USD 29.2 Mn in FY25 compared to a gain of USD 55.7 Mn in FY24.
Balance Sheet Strength and Asset Growth: Bit Digital strengthened its balance sheet, with cash and cash equivalents increasing to USD 118.4 Mn as of FY25-end compared to USD 95.2 Mn in FY24. Total digital assets grew significantly to USD 415.7 Mn from USD 161.4 Mn, reflecting continued ETH accumulation. Additionally, the company held 27.0 Mn shares in WhiteFiber, with an implied value of approximately USD 427.3 Mn, providing meaningful exposure to AI infrastructure growth.
Strategic Realignment Toward Ethereum and AI Infrastructure: During FY25, the company repositioned itself as a Strategic Asset Company, focusing on Ethereum as programmable economic infrastructure and AI compute exposure through WhiteFiber. The transition emphasizes disciplined capital allocation, staking yield generation, and long-term compounding. The company continues to reduce exposure to bitcoin mining while expanding participation in ETH staking and AI-driven infrastructure opportunities.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Bit Digital, Inc. (NASDAQ: BTBT) at the closing market price of USD 1.44, as on 13 April,2026.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Financial Services Industry: Capital Markets
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| BTBT Bit Digital Inc |
0.14 6.90% | 2.17 | - | 23.87 | 4.52 | 0.75 | 4.89 | 12.88 |
| GS Goldman Sachs Group Inc |
-2.58 0.23% | 1096.56 | 17.21 | 16.00 | 4.47 | 2.26 | 11.15 | |
| MS Morgan Stanley |
-1.79 0.80% | 223.17 | 16.50 | 13.76 | 2.80 | 1.65 | ||
| SCHW Charles Schwab Corp |
-2.81 2.97% | 91.70 | 22.86 | 17.39 | 6.14 | 4.28 | ||
| CIIHF CITIC Securities Company Limited |
- -% | 3.50 | 12.33 | 7.94 | 0.69 | 1.13 | 7.69 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on April 14, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
Disclaimer :
This report has been issued by StockNextt which has an Ontario Business Identification Number 1000958347 and British Columbia registration Number FM1051529 is a trade name under Kalkine Canada Advisory Services Inc. having Business Number 761925130BC0001. Kalkine Canada Advisory Services Inc. and StockNextt are collectively referred to as “StockNextt”, “we”, “us”, and “our”. The website https://stocknextt.com and associated pages are published by StockNextt. The information in this report and on the StockNextt website has been prepared from a wide variety of sources, which StockNextt, to the best of its knowledge and belief, considers accurate. StcokNextt has made every effort to ensure the reliability of information contained in its reports, newsletters, and websites. All information represents our views at the date of publication and may change without notice. The information in this report does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products. Our reports contain general recommendations for investing in securities and other financial products. StockNextt does not offer financial advice based upon your personal financial situation or goals, and we shall not be held liable for any investment or trading losses you may incur by using the opinions expressed in our reports, publications, market updates, news alerts and corporate profiles. StockNextt does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. StockNextt’s general advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested. Please also read our Terms and conditions for further information. Employees and/or associates of StockNextt and its related entities may hold an interest in the securities or other financial products covered in this report or on the StockNextt website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Copyright © 2026 Krish Capital Pty Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.
Australia