Bit Digital, Inc
BTBT Nasdaq Finance Services Financials FY2022–FY2025
Revenue
Total sales reported in the income statement.
$114M
5.1%
vs prior year
Operating margin
Operating income as a share of revenue.
−80.9%
106.4 pts
Net income
Profit after all expenses, interest and tax.
−$80.3M
383.7%
Free cash flow
Cash from operations minus capital spending.
−$575M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.82 EPS (TTM)
What Bit Digital, Inc does
No business description yet.
- Legal name
- Bit Digital, Inc
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 27, 2026
- Accession · CIK
- 0001213900-26-035544
0001710350
Revenue and margins
Bit Digital, Inc had $114M of revenue in fiscal 2025, up 5.1% on the year before.
FY22
Revenue $32.3M
FY23
Revenue $44.9M
FY24
Revenue $108M
FY25
Revenue $114M
Q1 '24
Revenue $30.4M
Q2 '24
Revenue $29.0M
Q3 '24
Revenue $22.8M
Q4 '24
Revenue $25.8M
Q1 '25
Revenue $25.1M
Q2 '25
Revenue $25.7M
Q3 '25
Revenue $30.5M
Q4 '25
Revenue $32.3M
Q1 '26
Revenue $27.9M
Q2 '26
Revenue $32.1M
FY22
Gross —
Operating −331.8%
Net −326.0%
FCF −86.2%
FY23
Gross —
Operating −37.0%
Net −30.9%
FCF −145.9%
FY24
Gross —
Operating 25.5%
Net 26.2%
FCF −99.0%
FY25
Gross —
Operating −80.9%
Net −70.7%
FCF −506.2%
Gross
Operating
Net
FCF
Q1 '24
Gross —
Operating 155.2%
Net 164.8%
FCF −70.2%
Q2 '24
Gross —
Operating −39.5%
Net −41.2%
FCF −50.2%
Q3 '24
Gross —
Operating −160.3%
Net −169.9%
FCF 37.0%
Q4 '24
Gross —
Operating 110.5%
Net 112.4%
FCF −308.4%
Q1 '25
Gross —
Operating −208.6%
Net −229.9%
FCF −189.4%
Q2 '25
Gross —
Operating 45.7%
Net 58.0%
FCF −251.3%
Q3 '25
Gross —
Operating 465.5%
Net 495.3%
FCF −843.1%
Q4 '25
Gross —
Operating −596.8%
Net −582.5%
FCF −636.9%
Q1 '26
Gross —
Operating −511.8%
Net −525.2%
FCF −609.7%
Q2 '26
Gross —
Operating −257.3%
Net −333.9%
FCF −397.6%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income −$105M
FY23
Net income −$13.9M
FY24
Net income $28.3M
FY25
Net income −$80.3M
Q1 '24
Net income $50.1M
Q2 '24
Net income −$12.0M
Q3 '24
Net income −$38.8M
Q4 '24
Net income $29.0M
Q1 '25
Net income −$57.7M
Q2 '25
Net income $14.9M
Q3 '25
Net income $151M
Q4 '25
Net income −$188M
Q1 '26
Net income −$147M
Q2 '26
Net income −$107M
FY22
Diluted EPS −$1.34
FY23
Diluted EPS −$0.16
FY24
Diluted EPS $0.19
FY25
Diluted EPS −$0.31
Q1 '24
Diluted EPS $0.43
Q2 '24
Diluted EPS −$0.09
Q3 '24
Diluted EPS −$0.26
Q4 '24
Diluted EPS $0.11
Q1 '25
Diluted EPS −$0.32
Q2 '25
Diluted EPS $0.07
Q3 '25
Diluted EPS $0.47
Q4 '25
Diluted EPS −$0.53
Q1 '26
Diluted EPS −$0.45
Q2 '26
Diluted EPS −$0.31
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity −117.1%
Return on assets —
FY23
Return on capital —
Return on equity −11.5%
Return on assets −7.3%
FY24
Return on capital —
Return on equity 9.2%
Return on assets 7.8%
FY25
Return on capital —
Return on equity −13.5%
Return on assets −9.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$575M in fiscal 2025, −506.2% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow −$27.8M
FY23
Free cash flow −$65.6M
FY24
Free cash flow −$107M
FY25
Free cash flow −$575M
Q1 '24
Free cash flow −$21.3M
Q2 '24
Free cash flow −$14.6M
Q3 '24
Free cash flow $8.5M
Q4 '24
Free cash flow −$79.5M
Q1 '25
Free cash flow −$47.6M
Q2 '25
Free cash flow −$64.5M
Q3 '25
Free cash flow −$257M
Q4 '25
Free cash flow −$206M
Q1 '26
Free cash flow −$170M
Q2 '26
Free cash flow −$128M
FY22
Cash from operations −$8.5M
Capital spending $19.3M
FY23
Cash from operations $1.1M
Capital spending $66.7M
FY24
Cash from operations −$13.0M
Capital spending $94.0M
FY25
Cash from operations −$289M
Capital spending $286M
Cash from operations
Capital spending
Q1 '24
Cash from operations −$20.9M
Capital spending $0.5M
Q2 '24
Cash from operations −$9.5M
Capital spending $5.1M
Q3 '24
Cash from operations $10.1M
Capital spending $1.6M
Q4 '24
Cash from operations $7.3M
Capital spending $86.8M
Q1 '25
Cash from operations $17.4M
Capital spending $65.0M
Q2 '25
Cash from operations $17.7M
Capital spending $82.2M
Q3 '25
Cash from operations −$240M
Capital spending $16.9M
Q4 '25
Cash from operations −$84.1M
Capital spending $122M
Q1 '26
Cash from operations −$1.1M
Capital spending $169M
Q2 '26
Cash from operations $47.9M
Capital spending $176M
Cash from operations
Capital spending
Dividends, buybacks and share count
Bit Digital, Inc returned $0.8M to shareholders in fiscal 2025. The diluted share count rose 82.2%.
FY22
Dividends —
Buybacks —
FY23
Dividends $1.6M
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends $0.8M
Buybacks —
Dividends
Buybacks
Q1 '24
Dividends —
Buybacks —
Q2 '24
Dividends —
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks —
Q1 '25
Dividends $0.8M
Buybacks —
Q2 '25
Dividends $0.0M
Buybacks —
Q3 '25
Dividends $0.0M
Buybacks —
Q4 '25
Dividends $0.0M
Buybacks —
Q1 '26
Dividends $0.8M
Buybacks —
Q2 '26
Dividends $0.0M
Buybacks —
Dividends
Buybacks
FY22
Diluted shares 0.08B
FY23
Diluted shares 0.09B
FY24
Diluted shares 0.14B
FY25
Diluted shares 0.26B
Balance sheet
Cash, debt and the ratios that show how comfortably Bit Digital, Inc can carry it.
FY22
Cash $34.0M
Debt —
FY23
Cash $16.9M
Debt —
FY24
Cash $95.2M
Debt —
FY25
Cash $118M
Debt —
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $34.0M | $16.9M | $95.2M | $118M |
| Interest coverage | — | — | — | −29.7x |
| Current ratio | — | 3.1x | 5.4x | 1.9x |
| Quick ratio | — | 3.1x | 5.4x | 1.9x |
| Total assets | — | $189M | $538M | $1.2B |
| Total liabilities | — | $36.6M | $74.8M | $309M |
| Shareholders' equity | $89.9M | $153M | $463M | $724M |
| Net debt (− = net cash) | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✓ | ✕ |
| Cash from operations is positive | ✕ | ✓ | ✕ | ✕ |
| Return on assets rose | — | — | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✕ | ✕ |
| Debt fell relative to assets | — | — | — | — |
| Current ratio rose | — | — | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — |
| Revenue rose relative to assets | — | — | ✕ | ✕ |
| F-score | — / 3 | — / 4 | 3 / 7 | 0 / 7 |
| Accruals ratio | — | −7.9% | 11.4% | 24.4% |
| Altman Z'' | — | 3.21 | 9.21 | 1.91 |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $32.3M | $44.9M | $108M | $114M |
| Operating income | −$107M | −$16.6M | $27.6M | −$91.8M |
| Interest expense | — | — | — | $3.1M |
| Pretax income | −$106M | −$13.6M | $32.3M | −$86.9M |
| Income tax | −$0.6M | $0.3M | $4.0M | −$2.0M |
| Net income | −$105M | −$13.9M | $28.3M | −$80.3M |
| Diluted EPS | −$1.34 | −$0.16 | $0.19 | −$0.31 |
| Diluted shares | 0.08B | 0.09B | 0.14B | 0.26B |
| Cash flow | ||||
| Cash from operations | −$8.5M | $1.1M | −$13.0M | −$289M |
| Capital expenditure | $19.3M | $66.7M | $94.0M | $286M |
| Free cash flow | −$27.8M | −$65.6M | −$107M | −$575M |
| Depreciation and amortization | $27.8M | $14.4M | $32.3M | $36.8M |
| Stock-based compensation | $2.3M | $9.1M | $9.9M | $24.6M |
| Acquisitions | — | — | $39.0M | $1.6M |
| Dividends paid | — | $1.6M | — | $0.8M |
| Dividends and buybacks | — | $1.6M | — | $0.8M |
| Balance sheet | ||||
| Cash and short-term investments | $34.0M | $16.9M | $95.2M | $118M |
| Finance lease liabilities | — | — | — | $12.9M |
| Current assets | — | $83.3M | $297M | $178M |
| Current liabilities | — | $27.1M | $55.0M | $92.9M |
| Property and equipment, net | — | $81.5M | $107M | $360M |
| Goodwill | — | — | $19.4M | $20.1M |
| Intangible assets | — | — | $13.0M | $12.8M |
| Total assets | — | $189M | $538M | $1.2B |
| Total liabilities | — | $36.6M | $74.8M | $309M |
| Preferred stock | — | $9.1M | $9.1M | $9.1M |
| Shareholders' equity | $89.9M | $153M | $463M | $724M |
| Margins | ||||
| Operating margin | −331.8% | −37.0% | 25.5% | −80.9% |
| EBITDA margin | −245.7% | −4.9% | 55.4% | −48.4% |
| Net margin | −326.0% | −30.9% | 26.2% | −70.7% |
| FCF margin | −86.2% | −145.9% | −99.0% | −506.2% |
| Returns | ||||
| Return on capital employed | — | −10.2% | 5.7% | −8.5% |
| Return on equity | −117.1% | −11.5% | 9.2% | −13.5% |
| Return on assets | — | −7.3% | 7.8% | −9.4% |
| Return on tangible equity | −117.1% | −9.1% | 6.6% | −11.6% |
| Growth | ||||
| Revenue growth | — | 39.1% | 140.6% | 5.1% |
| Net income growth | — | — | — | −383.7% |
| EPS growth | — | — | — | −263.2% |
| Share count change | — | 11.3% | 61.7% | 82.2% |
| Financial health | ||||
| Interest coverage | — | — | — | −29.7x |
| Current ratio | — | 3.1x | 5.4x | 1.9x |
| Quick ratio | — | 3.1x | 5.4x | 1.9x |
| Capital allocation | ||||
| Capex / revenue | 59.9% | 148.4% | 87.0% | 251.8% |
| Stock comp / revenue | 7.0% | 20.3% | 9.1% | 21.6% |
| Quality scores | ||||
| Piotroski F-score | — | — | 3.0 | 0.0 |
| Altman Z'' | — | 3.2 | 9.2 | 1.9 |
| Accruals ratio | — | −7.9% | 11.4% | 24.4% |
Source: SEC EDGAR XBRL filings (CIK 0001710350). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.