BTBT Stock Fueled by Cloud Contracts and Bitcoin Price Bounce
Bit Digital Inc.'s stock price has increased by 4.93% in recent trading, driven by bullish sentiment on rising Bitcoin prices and mining profitability.
The company's pivot towards its WhiteFiber/NC-1 cloud infrastructure platform has gained attention from traders, with over $540M in multi-year cloud services contracts already signed for the platform.
Management expects these deals to translate into over $200M in annualized revenue once the capacity is fully deployed and billing. This represents a significant shift from the company's legacy bitcoin mining business, which is being wound down.
The financials still show heavy losses, with Bit Digital posting a quarterly net loss of about $107.2M and an EBITDA of roughly -$90.8M in Q2 2026. However, revenue has grown sharply to about $113.6M over the last year.