Bit Digital (BTBT) – Noble Consumer Virtual Conference


Tuesday, July 02, 2024

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Conference. We hosted Bit Digital CEO Sam Tabar at the Noble Capital Emerging Growth Conference on June 27th. The presentation and Q&A session can be found at https://www.channelchek.com/videos/bit-digital-btbt-noble-capital-markets-virtual-consumer-tmt-conference-replay. The following are key highlights of the presentation.

Bit Digital AI. The $100 million annual run rate goal is within reach as the expanded HPC services contract is now at a $92 million annualized revenue run-rate. The pipeline here is growing and we anticipate additional customers before year-end. Notably, HPC revenue generates significantly higher margins than the mining business, partially due to an energy cost that is 15x less. Management’s goal is to become a leading provider of AI infrastructure as a service to the EMEA region.


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