Bit Digital: The Bitcoin Exit Is Real
2025-07-04 05:39:50
Main Idea
Bit Digital Inc. (NASDAQ:BTBT) has not been a preferred Bitcoin miner due to specific reasons, though the article does not detail these reasons.
Key Points
1. Bit Digital Inc. (NASDAQ:BTBT) has not been listed among the author's favorite Bitcoin miners in recent years.
2. The article mentions a concrete reason for this preference but does not specify what it is.
Description
Summary Bit Digital is pivoting away from Bitcoin mining toward high-margin ETH staking, and HPC services, transforming its revenue mix and growth strategy. The $150M equity raise will fund ETH purchases for treasury and WhiteFiber HPC expansion, but introduces dilution and ETH concentration risk. WhiteFiber's potential IPO could unlock value for BTBT shareholders, either through direct share distribution or a sum-of-the-parts re-rating. At 2x P/S and ~$2/share, with management insider buying an...
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