Company Analysis

Bit Digital, Inc. (BTBT)

Nasdaq: BTBT · Finance Services · New York, NY · filing with the SEC since 2017
Grade5.0
◀ Past 5.3● Present 5.0▶ Future 4.6
2 est.

The grade of Bit Digital, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.0/10
◀ Past5.340% of the headline
● Present5.035% of the headline
▶ Future4.625% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
6.7/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2020-06-12.

weight 45% of this tense · 67th percentile among 130 sector filers · read for itself

From the record

Bit Digital, Inc.'s filings since 2017 show 1 warning event: a late-report notice (Form NT 10-K or NT 10-Q, the latest 2020-06-12) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.1/10

What has it actually done, year after year?

+46.3% a year over 9 filed years; profitable in 2 of 10.

weight 22% of this tense · 51st percentile among 104 sector filers · read for its customers

From the record

Bit Digital, Inc.'s 9 filed years say what it did: revenue went from $4 million in fiscal 2016 to $114 million in fiscal 2025, up 46.3% a year; it rose in 6 of 8 years; the deepest fall was 66% from fiscal 2021 to fiscal 2022; net income was positive in 2 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span46.3%top 30% of its family
  • the share of years revenue rosetop 37% of its family
  • the share of filed years with a profitbottom 40% of its family
  • the deepest fall from a revenue peak66.4%bottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
3.4/10

How has it treated the people who own it?

SI estimate 3.4/10, confidence 35 of 100 (one part).

weight 33% of this tense · 34th percentile among 115 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 34% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 115 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Bit Digital, Inc.'s shareholder treatment is put at 3.4 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 34% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.0/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
5.5/10

Is it financially healthy right now?

ROE -9%: lost 9¢ per shareholder dollar. Leverage 26%: owes 26¢ per asset dollar.

weight 45% of this tense · 55th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Bit Digital, Inc. lost about 9 cents for every dollar of shareholders' money. Leverage: it owed about 26 cents per dollar of assets, and net share issuance: its share count grew 82.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 28% of its family
  • return on equitytop 39% of its family
  • the share count against the year beforebottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.0/10

How strong is its position in its industry?

top 40% of 114 in its family; net margin -70.7%.

weight 33% of this tense · 60th percentile among 114 sector filers · read for its customers

From the record

Bit Digital, Inc.'s standing among 114 graded names in its industry family: revenue of $114 million in fiscal 2025 ranks in the top 47% by size; a net margin of -70.7% ranks in the bottom 49%; revenue growth of 52% a year over the last 3 filed years ranks in the top 22% (its annual reports).

What it rests on

  • revenue against the family$114Mtop 47% of its family
  • net margin-70.7%bottom 49% of its family
  • three-year revenue growth52.0%top 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
2.2/10

What are the people in charge doing?

SI estimate 2.2/10, confidence 35 of 100 (one part).

weight 22% of this tense · 22nd percentile among 92 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 22% of 92 in its family; the record of its people begins on 2025-01-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.8 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2025-01-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.8 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 92 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Bit Digital, Inc.'s leadership is put at 2.2 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 22% of 92 in its family; the record of its people begins on 2025-01-10 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.8 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.6/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.8/10

How much room does it have to grow?

bottom 38% of 108 in its family for room to expand.

weight 33% of this tense · 38th percentile among 108 sector filers · read for itself

From the record

Bit Digital, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $118 million against no long-term debt tagged leaves 10.1% of its assets as net cash, top 38% of its family; cash from operations less capital spending is -506.2% of revenue (bottom 13%) (its annual report).

What it rests on

  • cash less debt against assets10.1%top 38% of its family
  • cash from operations less capital spending against revenue-506.2%bottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.8/10

What could actually drive growth from here?

top 42% of 100 in its family for growth drivers.

weight 33% of this tense · 58th percentile among 100 sector filers · read for its customers

From the record

Bit Digital, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 52% a year over the last three filed years against 46.3% over all 9, speeding up (top 20% of its family); the newest year grew 5.1% (bottom 39%); research spending grew -31% a year (bottom 27%); capital spending grew 145.4% a year (top 15%) (its annual reports). Bit Digital, Inc. reported 5 product lines in fiscal 2025: Cloud Services at $69 million (61%), Digital Asset Mining at $27 million (24%), Colocation Services at $9 million (8%), and 2 more; 4 of 5 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+5.8 points a yeartop 20% of its family
  • the newest year's revenue growth5.1%bottom 39% of its family
  • three-year growth of research spending-31.0%bottom 27% of its family
  • three-year growth of capital spending145.4%top 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.4/10

Did its newest year beat what its own record pointed to?

bottom 44% of 78 in its family for expectations against reality.

weight 33% of this tense · 44th percentile among 78 sector filers · read for its shareholders

From the record

Bit Digital, Inc.'s newest year against its own record: revenue of $114 million in fiscal 2025 came in 42.5% below the $198 million its prior three years' pace pointed to (bottom 17% of its family); net income of $80 million against a prior three-year average of $30 million (bottom 38%); a net margin of -70.7% against losses larger than its revenue before (top 24%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-42.5%bottom 17% of its family
  • net income against the prior three years' average-165%bottom 38% of its family
  • net margin against its prior average+39.5 pointstop 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BTBT · research, not advice