BTBT Stock Surges 3.97% Amid Cloud and AI Pivot

Bit Digital Inc.'s stock price has surged by 3.97% as investors react positively to its pivot towards cloud and AI infrastructure, according to a recent update on timothysykes.com.

The company's Q2 earnings showed a $0.31 per-share loss, beating last year's $0.45 loss on revenue of $32.1M, which exceeded the Wall Street estimate of $22.61M.

Bit Digital is shifting capital from legacy Bitcoin mining into its WhiteFiber/NC-1 cloud infrastructure unit, which has started billing customers and secured over $540M in multi-year cloud services contracts. Once fully deployed, these contracts are expected to generate more than $200M in annualized revenue.

The company's treasury-backed ETH financing structure allowed it to fund the NC-1 data center build without selling ETH or issuing new shares, keeping upside exposure to Ethereum prices intact and avoiding dilution that often affects small-cap stocks. As Bit Digital winds down its legacy Bitcoin mining operations, it is highlighting Ethereum staking and AI/HPC infrastructure exposure.