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Bit Digital, Inc. (NASDAQ:BTBT), currently valued at $1.17 billion with shares trading at $3.67, announced Friday preliminary estimates for its financial results for the third quarter ended September 30, 2025. The company expects unaudited revenue for the period to be between $28.9 million and $32.0 million, with cost of revenue (excluding depreciation) estimated at $11.5 million to $12.7 million.
As of September 30, 2025, Bit Digital estimates its cash and cash equivalents to be between $173.7 million and $184.5 million.
The company stated that these figures are based on currently available information and are subject to completion of its financial closing procedures. Bit Digital noted that its independent registered public accounting firm, Audit Alliance LLP, has not audited, reviewed, or performed any procedures with respect to the preliminary financial information, and does not express an opinion or assurance regarding these estimates.
Bit Digital made the announcement in a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, Bit Digital, Inc. has made significant financial moves and strategic decisions. The company reported Ethereum holdings of approximately 122,187 ETH valued at $506.6 million as of September 30, 2025. In a notable acquisition, Bit Digital purchased 31,057 ETH using proceeds from a $150 million convertible notes offering, increasing its total Ethereum holdings to about 150,244 ETH. Additionally, Bit Digital announced a $100 million convertible senior notes offering, with an option for underwriters to purchase an additional $15 million to cover over-allotments.
On the analyst front, H.C. Wainwright reaffirmed its Buy rating for Bit Digital with a $7 price target, citing the company’s substantial 71.5% ownership of WhiteFiber, a cloud and collocation business. The firm also highlighted ongoing debates regarding the valuation of digital asset treasury companies, which could influence market dynamics. These developments underscore Bit Digital’s strategic positioning in the cryptocurrency market and its ongoing efforts to strengthen its financial standing.
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