BTBT Surges on Craig-Hallum Price Target Hike to $3.50

Bit Digital Inc.'s stock price has surged by 8.15% after Craig-Hallum raised its price target to $3.50 from $3 and reiterated a Buy rating on the company.

The firm highlighted that Bit Digital's 70% stake in WhiteFiber is worth more than the company's entire enterprise value, suggesting the market is underestimating the asset's value.

Bit Digital has been emphasizing its growth pillars of Ethereum staking and exposure to AI/HPC infrastructure through WhiteFiber, which could contribute to a significant increase in its stock price.