Professional
Added to YB: 2024-10-17
Pitch date: 2024-10-16
BTBT [neutral]
Bit Digital, Inc.
-64.49%
current return
Author Info
Pernas Research is a former CIO of a $3.5B fund that now share actionable stock research. Sign up for the newsletter.
Company Info
Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities; and digital asset staking and digital asset mining businesses, as well as ethereum staking activities.
Market Cap
$525.7M
Pitch Price
$3.83
Price Target
N/A
Dividend
N/A
EV/EBITDA
58.30
P/E
13.22
EV/Sales
5.54
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.
Read full article (1 min)