Bit Digital (BTBT) Stock Falls Amid Market Volatility

6 days ago

Bit Digital (BTBT, Financial) experienced a significant stock price drop of 5.09%, trading at $3.52 per share with a trading volume of 9.87 million shares and a turnover rate of 6.43%. The company's recent financial report shows revenue of $22.71 million, a net loss of $38.80 million, and earnings per share of -$0.26, with a gross loss of $1.14 million. The price-to-earnings ratio stands at -117.67.

Despite the downturn, all six rating institutions have given a "buy" recommendation for BTBT, with no "hold" or "sell" suggestions. The capital market industry, where BTBT operates, saw a slight overall increase of 0.11%.

Bit Digital focuses on Bitcoin mining, Ethereum staking, and specialized cloud infrastructure services for AI applications. The company aims to accumulate Bitcoin, which can be sold for fiat currency depending on market conditions, generating revenue through digital asset mining and ETH staking.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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