Bit Digital Reports Mixed Q2 Results: EPS Miss, Revenue Up 80%

Bit Digital, Inc. (NASDAQ:BTBT) reported its second-quarter financial results Monday after the closing bell. Here's a look at the details from the report.

The Details: Bit Digital reported quarterly losses of nine cents per share, which missed the analyst consensus estimate of losses of three cents per share.

Quarterly revenue came in at $29 million, beating the analyst consensus estimate of $26.09 million by 11.16% and representing a 220.87% increase year-over-year. The company said the increase was primarily driven by the commencement of its high-performance computing services (HPC) business and by a higher realized Bitcoin (CRYPTO: BTC) price.

Revenue from Bitcoin mining was $16.1 million for the second quarter of 2024, an 80% increase compared to the prior year’s quarter.

The company earned 244.2 Bitcoins, a 23% decrease from the prior year. ...

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Bit Digital Reports Mixed Q2 Results: EPS Miss, Revenue Up 80%

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