BTBT

RH 11.01

Consensus rating - strong buy 

Consensus" generally refers to general agreement or accord among a group of people on a particular matter. It can also refer to the process of reaching that agreement, often through discussion and deliberation. In essence, it signifies a shared understanding or opinion among a collective, rather than a unanimous vote. 

Overview & Insights

Majority View: Analysts are largely bullish on BTBT, with consensus price targets ranging from $6.08 to $6.33—suggesting a strong potential upside between +100% to +132%.

Top Bullish Contributors: HC Wainwright remains the most aggressive, with a consistent $7 target. Others like Craig-Hallum and B. Riley also favor the stock strongly.

Contrarian Perspective: Barron’s Stock Grader signals a more cautious stance, labeling BTBT as a “Sell” despite a target above current price.

. Public.com Aggregate

• Based on 4 analysts:

  • 75% rate Strong Buy

  • 25% rate Buy

  • No analysts issue Hold or Sell recommendations.

• Consensus Price Target: $6.25, i.e., flat from the current stock price.

• Barron’s

  • Average Price Target: $6.08

  • Stock Grader Rating: SELL, with a downgrade from Hold on May 15, 2025.

  8:32a ET 5/18/2023 - Benzinga

Bit Digital, Inc. Announces Expansion Of Mining Operations Into Iceland

Mentioned:

BTBT

Bit Digital, Inc. (NASDAQ:BTBT) ("Bit Digital" or the "Company"), a digital asset mining company headquartered in New York, is pleased to announce that it has finalized an agreement to expand the Company's bitcoin mining presence into Iceland. This expansion will allow Bit Digital to tap into Iceland's abundant renewable energy resources and further diversify its hosting operations. Following this agreement, Bit Digital will have mining operations in three countries: the United States, Canada, and Iceland.

Bit Digital has finalized a two-year agreement with GreenBlocks ehf ("GreenBlocks") for approximately 8.25 megawatts of incremental hosting capacity at a facility in Reykjanesbaer, Iceland. The Company will fill the capacity with approximately 2,000 S19j Pro+ and 500 S19 mining units that were recently purchased for approximately $3.6 million. The mining units are expected to be delivered to the facility by the end of May 2023.

GreenBlocks, based in Iceland, focuses on the use of renewable energy in mining and validation of blockchains. GreenBlocks operates within Iceland's closed power grid, a grid that runs on 100% renewable energy with a split of approximately 85% hydro and 15% geothermal energy. GreenBlocks has managed a bitcoin mining operation located in Iceland since early 2019.

Sam Tabar, Bit Digital's CEO, commented: "We are pleased to announce our partnership with GreenBlocks and our entry into the Icelandic market. Our experience with GreenBlocks has been exceptional, and we appreciate their professionalism in facilitating our entry into the country. This partnership aligns well with our sustainability goals and our mission to diversify our hosting portfolio across different geographies and jurisdictions. Iceland's clean energy abundance and supportive government policies provide an ideal environment for our mining operations, and we anticipate a productive and successful collaboration for years to come."

Tabar continued, "This agreement marks another key step towards achieving our target to double our active hash rate through the course of 2023. Perhaps more importantly, we believe that our pro forma hosting portfolio will now be almost entirely powered by carbon-free energy sources."

Daniel Jonsson, CEO of GreenBlocks, added: "We at GreenBlocks are very proud of this new partnership and that Bit Digital has chosen us as a partner in helping them establish a presence outside of North America. In today's environment, Iceland has become a premium location for datacenter facilities, which is clearly reflected in the interest we currently see. However, just like the actual landscape of Iceland, the operational landscape can be hard to navigate, so having a local partner is crucial to success. Bit Digital's vision on the industry is very much aligned with our own, so we are excited about the future of these two companies and look forward to a fruitful partnership."

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

 3:38p ET 7/26/2021 - Dow Jones

Bit Digital Up Over 104%, on Track for Record Percent Increase -- Data Talk

Mentioned:

BTBT

Bit Digital, Inc. (BTBT) is currently at $8.63, up $4.40 or 104.05% 

-- Would be highest close since June 14, 2021, 

when it closed at $8.89 

-- Would be largest percent increase on record (Based on available data back to March 20, 2018) 

-- Snaps a two day losing streak 

-- Up 26.19% month-to-date; on pace for best month since Dec. 2020, when it rose 171.5% 

-- Down 60.61% year-to-date 

-- Down 70.51% from its all-time closing high of $29.27 on Jan. 4, 2021 

-- Up 349.55% from 52 weeks ago (July 27, 2020), when it closed at $1.92 

-- Down 70.51% from its 52-week closing high of $29.27 on Jan. 4, 2021 

-- Up 349.55% from its 52-week closing low of $1.92 on July 27, 2020 

-- Traded as high as $8.90; highest intraday level since June 15, 2021, when it hit $9.21 

-- Up 110.4% at today's intraday high; largest intraday percent increase since Dec. 28, 2020, when it rose as much as 115.03% 

All data as of 3:31:58 PM 

Source: Dow Jones Market Data, FactSet 

(END) Dow Jones Newswires

July 26, 2021 15:38 ET (19:38 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.