Q3 EPS Estimates for Bit Digital Decreased by Analyst

Key Points

• Northland Securities lowered Bit Digital’s Q3 2026 EPS estimate to a loss of $0.05 per share from $0.02 previously; it projects a $0.02-per-share loss for Q4.
• Bit Digital reported a quarterly loss of $0.31 per share, significantly missing the $0.05 consensus estimate, despite revenue of $32.11 million exceeding analysts’ $23.58 million forecast.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and $5.12 target price, while the stock recently traded near $1.57 and institutional investors owned 47.7% of shares.

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Equities researchers at Northland Securities reduced their Q3 2026 EPS estimates for Bit Digital in a research report issued on Thursday, August 13th. Northland Securities analyst M. Grondahl now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their prior forecast of ($0.02). The consensus estimate for Bit Digital's current full-year earnings is ($0.56) per share. Northland Securities also issued estimates for Bit Digital's Q4 2026 earnings at ($0.02) EPS.

A number of other analysts have also recently issued reports on BTBT. Weiss Ratings cut Bit Digital from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, May 18th. B. Riley Financial reaffirmed a "buy" rating on shares of Bit Digital in a research report on Monday, May 18th. Craig Hallum reiterated a "buy" rating and issued a $3.50 price objective on shares of Bit Digital in a research note on Tuesday, July 14th. Finally, Zacks Research raised Bit Digital from a "strong sell" rating to a "hold" rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bit Digital currently has a consensus rating of "Hold" and a consensus target price of $5.12.

Bit Digital Price Performance

BTBT opened at $1.57 on Monday. The business's 50-day simple moving average is $1.65 and its 200-day simple moving average is $1.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.51 and a current ratio of 1.51. Bit Digital has a one year low of $1.18 and a one year high of $4.55. The stock has a market capitalization of $566.19 million, a P/E ratio of -1.48 and a beta of 4.02.

Bit Digital (NASDAQ:BTBT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The company had revenue of $32.11 million during the quarter, compared to analyst estimates of $23.58 million. Bit Digital had a negative net margin of 237.19% and a negative return on equity of 10.66%.

Institutional Investors Weigh In On Bit Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Bit Digital by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 249,211 shares of the company's stock worth $449,000 after buying an additional 48,930 shares during the period. Byrne Asset Management LLC grew its holdings in shares of Bit Digital by 25.0% during the second quarter. Byrne Asset Management LLC now owns 107,100 shares of the company's stock worth $193,000 after buying an additional 21,400 shares during the last quarter. NewEdge Advisors LLC increased its position in Bit Digital by 4,576.3% in the 1st quarter. NewEdge Advisors LLC now owns 28,058 shares of the company's stock valued at $37,000 after acquiring an additional 27,458 shares during the period. Essential Partners LLC acquired a new position in Bit Digital in the 1st quarter valued at about $35,000. Finally, Bank of America Corp DE increased its position in Bit Digital by 164.0% in the 1st quarter. Bank of America Corp DE now owns 917,780 shares of the company's stock valued at $1,202,000 after acquiring an additional 570,086 shares during the period. 47.70% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bit Digital

Here are the key news stories impacting Bit Digital this week:

• Positive Sentiment: Revenue reached approximately $32.1 million, exceeding the roughly $23.6 million consensus estimate and rising 15% sequentially. Cloud-services revenue grew 42% from the prior quarter, supported by new and expanded contracts. Bit Digital revenue rises as cloud services drive growth
• Positive Sentiment: Management used the earnings call to emphasize Bit Digital’s cloud-driven pivot, including expansion in AI and high-performance computing infrastructure. Investors may view this business mix as offering more predictable growth than cryptocurrency mining alone. Bit Digital Earnings Call Highlights Cloud-Driven Pivot
• Positive Sentiment: Analysts cited in one report assigned Bit Digital an average price target of $5.12, indicating substantial potential upside from recent trading levels, although price targets are subject to revision. Bit Digital Receives Average Analyst Price Target
• Neutral Sentiment: The company is positioning itself as a strategic asset company focused on Ethereum strategies and AI/HPC infrastructure. The earnings call and transcript provide additional details on this longer-term repositioning. Bit Digital Q2 2026 Earnings Call Transcript
• Negative Sentiment: Profitability remained the key concern. Bit Digital reported a quarterly loss, with coverage citing an adjusted loss of about $0.06 per share versus an expected loss of $0.05, while the company’s reported loss was substantially affected by impairments, digital-asset losses and interest costs. Bit Digital Q2 Earnings Miss Despite Revenue Beat
• Negative Sentiment: MarketBeat reported a loss of $0.31 per share versus the $0.05 consensus estimate, alongside a negative net margin of 145.39%, underscoring the volatility and execution risk surrounding the company’s crypto and infrastructure businesses. Bit Digital Q2 Earnings Results

Bit Digital Company Profile

Bit Digital, Inc NASDAQ: BTBT is a publicly traded digital asset mining company that specializes in the proof-of-work mining of Bitcoin. Incorporated in Nevada and headquartered in New York City, Bit Digital develops, owns and manages a fleet of high-efficiency ASIC miners, with the primary aim of generating newly minted Bitcoin through computational work. The company's revenue is derived solely from its mining operations and any resulting cryptocurrency holdings.

To support its mining activities, Bit Digital maintains multiple data center facilities across North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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