
BTBT Stock Forecast & Price Target
BTBT Analyst Ratings
Bulls say
Bit Digital Inc. is experiencing significant growth in its revenue streams, particularly through its high-performance computing (HPC) operations, which now contribute 44% to the total sales mix for FY24. The company's compounded revenue increase is poised for another rise, with projected sales of approximately $121.1 million for FY25, reflecting a conservative 17% growth from the updated FY24 estimate of $103.5 million. Additionally, Bit Digital's profitability has markedly improved, evidenced by an adjusted EBITDA of $73.0 million for FY24, alongside a robust liquidity position of $260.7 million, indicating strong operational flexibility and a shift towards less dilutive financing methods.
Bears say
Bit Digital Inc. is projecting a significant revenue decline in its digital asset mining segment, with figures expected to drop to $31.5 million in FY25 from $55.3 million in 2024. The company's bitcoin mining revenue already experienced a decrease from $11.3 million in 2Q24 to $10.1 million in 3Q24, indicating ongoing challenges in maintaining profitability amid changing market conditions and operational adjustments. Additionally, the termination of hosting contracts with Coinmint will further reduce Bit Digital’s hash rate, negatively impacting its mining capabilities and overall financial performance.
This aggregate rating is based on analysts' research of Bit Digital, Inc and is not a guaranteed prediction by Public.com or investment advice.
BTBT Analyst Forecast & Price Prediction
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