Bit Digital Surges on Q2 Earnings Beat and Cloud Pivot

Bit Digital Inc.'s stock surged by 4.03% after its Q2 earnings beat expectations, with revenue reaching $32.1M against a consensus of $22.61M.

The company is shifting focus from legacy bitcoin mining to cloud infrastructure through WhiteFiber's NC-1 build, backed by over $540M in multi-year contracts that are expected to generate more than $200M in annualized revenue once fully deployed.

Bit Digital has adopted an ETH-backed treasury structure for the project, avoiding equity dilution and retaining its sizable ETH stack intact.