📊 BTBT Key Takeaways
Investment Thesis
Despite exceptional revenue growth of 140.6% YoY and impressive operating margins of 124.6%, Bit Digital exhibits severe cash flow deterioration with negative free cash flow of -$368.9M and negative operating cash flow of -$204.9M, indicating the profitability metrics are not translating to actual cash generation. The company's net margin of 133% is exceptionally unusual and suggests potential accounting anomalies or one-time gains that obscure underlying operational challenges. The combination of deteriorating cash flows, elevated capital expenditure needs, and questionable earnings quality poses significant financial sustainability risks despite strong headline growth numbers.
BTBT Strengths
- Exceptional revenue growth of 140.6% year-over-year demonstrates strong market demand and business expansion
- Fortress balance sheet with $179.1M in cash, low leverage (0.00x debt-to-equity), and stockholders' equity of $906.2M provides financial flexibility
- Exceptional operating margin of 124.6% and net margin of 133% indicate significant pricing power and operational efficiency at the surface level
BTBT Risks
- Severe negative free cash flow of -$368.9M despite positive net income of $108M suggests earnings are not backed by actual cash generation and potential accounting distortions
- Negative operating cash flow of -$204.9M indicates the core business is not generating cash despite reported profitability, raising questions about earnings quality and sustainability
- Abnormally high net margin of 133% combined with N/A gross margin and capital expenditures of $164M suggests potential one-time gains, non-recurring items, or unreliable profitability metrics that do not reflect normalized operations
- High capital intensity with $164M in capex against only $81.2M in revenue suggests unsustainable investment requirements relative to operational output
Key Metrics to Watch
- Operating cash flow trend and sustainability of negative cash generation
- Breakdown of net income composition to identify one-time gains or non-recurring items inflating profitability
- Capital expenditure levels and return on invested capital to justify elevated capex spending
- Revenue quality and gross profit margins to validate top-line growth sustainability
BTBT Financial Metrics
💡 AI Analyst Insight
Strong liquidity with a 17.53x current ratio provides a solid financial cushion.
BTBT Profitability Ratios
BTBT vs Finance Sector
How Bit Digital, Inc compares to Finance sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
BTBT Balance Sheet & Liquidity
BTBT 5-Year Financial Trend
5-Year Trend Summary: Bit Digital, Inc's revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $-1.34 indicates the company is currently unprofitable.
BTBT Growth Metrics (YoY)
BTBT Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $22.8M | -$666.7K | $-0.01 |
| Q2 2025 | $25.7M | -$12.0M | $0.07 |
| Q1 2025 | $25.1M | $50.1M | $-0.32 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
BTBT Capital Allocation
BTBT SEC Filings
Access official SEC EDGAR filings for Bit Digital, Inc (CIK: 0001710350)
📋 Recent SEC Filings
❓ Frequently Asked Questions about BTBT
What is the AI rating for BTBT?
Bit Digital, Inc (BTBT) has an AI rating of SELL with 75% confidence, based on fundamental analysis of SEC EDGAR filings.
What are BTBT's key strengths?
Exceptional revenue growth of 140.6% year-over-year demonstrates strong market demand and business expansion. Fortress balance sheet with $179.1M in cash, low leverage (0.00x debt-to-equity), and stockholders' equity of $906.2M provides financial flexibility.
What are the risks of investing in BTBT?
Severe negative free cash flow of -$368.9M despite positive net income of $108M suggests earnings are not backed by actual cash generation and potential accounting distortions. Negative operating cash flow of -$204.9M indicates the core business is not generating cash despite reported profitability, raising questions about earnings quality and sustainability.
What is BTBT's revenue and growth?
Bit Digital, Inc reported revenue of $81.2M.
Does BTBT pay dividends?
Bit Digital, Inc pays dividends, with $0.8M distributed to shareholders in the trailing twelve months.
Where can I find BTBT SEC filings?
Official SEC filings for Bit Digital, Inc (CIK: 0001710350) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BTBT's EPS?
Bit Digital, Inc has a diluted EPS of $0.46.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.