BTBT Stock Jumps 4% on Expanding Cloud Contracts and Narrowed Loss

Bit Digital Inc.'s stock has surged by 3.97% after its expansion into Bitcoin mining operations generated upbeat sentiment.

The company's Q2 EPS loss narrowed to $0.31 from last year's $0.45, while revenue of $32.1M beat the $22.61M consensus, giving BTBT a clean earnings catalyst.

Bit Digital is shifting its focus towards a sizable ETH treasury and WhiteFiber/NC-1 cloud infrastructure platform, which has signed over $540M in multi-year cloud contracts, expected to exceed $200M in annualized revenue when fully deployed.