Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Bit Digital, Inc. (NASDAQ:BTBT), currently valued at $935 million with shares trading at $2.94, announced Tuesday that its subsidiary, WhiteFiber, Inc., has provided preliminary unaudited financial estimates for the three months ended June 30, 2025. InvestingPro data shows the company has maintained strong financial health with a current ratio of 3.9x, indicating robust liquidity. According to a press release statement, WhiteFiber expects revenue for the quarter to be approximately $17.7 million to $19.6 million, with cost of revenue (excluding depreciation) estimated between $6.7 million and $7.4 million. This comes as Bit Digital’s total revenue reached $102 million in the last twelve months, with a notable gross profit margin of 42%.
WhiteFiber, which operates high-performance computing data centers and provides cloud-based graphics processing unit services for artificial intelligence and machine learning developers, disclosed these estimates as part of an amendment to its registration statement on Form S-1 filed with the Securities and Exchange Commission. The company’s focus on AI infrastructure comes as analysts maintain a bullish outlook, with price targets ranging from $5 to $7 per share. Get deeper insights into BTBT’s growth potential with a comprehensive Pro Research Report, available exclusively on InvestingPro, along with 10+ additional ProTips and extensive financial metrics.
The company noted that these figures are based on preliminary results and currently available information. WhiteFiber’s financial closing procedures for the period have not been completed, and actual results may differ from the estimates provided. The preliminary financial information has not been audited, reviewed, or compiled by WhiteFiber’s independent registered public accounting firm, Audit Alliance LLP.
Bit Digital stated that the information is being furnished in connection with the SEC filing and is not considered “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934.
In other recent news, Bit Digital, Inc. has expanded its Ethereum holdings by purchasing approximately 19,683 ETH. This acquisition was made using proceeds from a $67.3 million registered direct offering to institutional investors. As a result, Bit Digital now holds around 120,306 ETH, positioning itself among the largest institutional Ethereum treasuries in the public markets. Additionally, Bit Digital announced the appointment of Justin Zhu as the new chief accounting officer and principal financial officer. Zhu, who has been with the company since July 2021 as the senior vice president of finance, will continue in that role while assuming his new responsibilities. His compensation package includes an annual base salary of $300,000 and restricted share units valued at $150,000. These recent developments highlight Bit Digital’s strategic focus on expanding its cryptocurrency assets and strengthening its financial leadership team.
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