Professional
Added to YB: 2024-10-17
Pitch date: 2024-10-16
BTBT [neutral]
Bit Digital, Inc.
-41.25%
current return
Author Info
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Company Info
Bit Digital, Inc., together with its subsidiaries, engages in the institutional grade ethereum treasury and staking business.
Market Cap
$779.7M
Pitch Price
$3.83
Price Target
N/A
Dividend
N/A
EV/EBITDA
4.30
P/E
3.88
EV/Sales
7.48
Sector
Software
Category
N/A
Pernas Research Passes On: Bit Digital, Inc.
BTBT pass: Crypto miner w/ data centers & AI customers, but only in Iceland w/ smaller firms, not hyperscalers. Shifting to HPC Tier 3 centers vs expanding existing. Assets deemed inferior to CORZ/APLD. $526mm mkt cap, $3.56 price, 56x EV/EBITDA. Not compelling vs Applied Digital position.
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