Financial Services Archives

Release – Bitcoin Depot Adds to Bitcoin Treasury Holdings Amid Continued Market Momentum

Posted on June 13, 2025June 13, 2025 by aweinsoff@channelchek.com

June 13, 2025 8:00 AM EDT Download as PDF

Company Now Holds Over 100 BTC as Part of Long-Term Growth Strategy

ATLANTA, June 13, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, today announced it has purchased additional Bitcoin (BTC) as part of its treasury strategy first initiated in June 2024.

The move follows the Company’s earlier purchases of 51 and 11 BTC in February 2025. With this latest addition, Bitcoin Depot now holds over 100 BTC in its treasury, further reinforcing its belief in Bitcoin’s long-term potential as both a strategic asset and a store of value.

“As the digital asset landscape continues to evolve during a period of strong industry momentum and innovation, we view Bitcoin as a foundational piece of our long-term growth strategy, and this purchase is a continuation of that conviction,” said Brandon Mintz, CEO and founder of Bitcoin Depot. “As we expand our treasury and our footprint, we remain committed to enabling access to Bitcoin and aligning with its future.”

This announcement comes as Bitcoin continues to experience significant momentum in 2025, marked by policy and regulatory clarity, growing institutional demand, increased adoption, and the recent all-time price high of over $111,000.

Bitcoin Depot’s latest BTC purchase also follows a wave of strong business growth for the Company, including the recent strategic acquisition of regional operator Pelicoin’s assets to further strengthen its market leadership. Today, Bitcoin Depot operates the largest Bitcoin ATM network in North America, with more than 8,500 locations and a growing international footprint.

The financial terms of the transaction were not disclosed. For more information, visit www.bitcoindepot.com.

About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 47 states and at thousands of name-brand retail locations in 31 states through its BDCheckout product. The Company has the largest market share in North America with over 8,500 kiosk locations as of June 2025. Learn more at www.bitcoindepot.com.

Cautionary Note Regarding Forward-Looking Statements
This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, the anticipated effects of the Amendment, and the closing of the Preferred Sale. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.

Contacts:

Investors 
Cody Slach
Gateway Group, Inc. 
949-574-3860 
BTM@gateway-grp.com

Media 
Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released June 13, 2025

Stripe’s Crypto Wallet Acquisition: A Strategic Play for Digital Payment Dominance

Posted on June 13, 2025June 13, 2025 by slightbourne@noblecapitalmarkets.com

Stripe’s acquisition of crypto wallet provider Privy represents far more than a simple technology purchase—it’s a calculated move to position the payments giant at the forefront of the digital currency revolution. This strategic acquisition, coming on the heels of Stripe’s massive $1.1 billion purchase of Bridge earlier this year, demonstrates the company’s commitment to building a comprehensive cryptocurrency infrastructure that could fundamentally reshape how businesses and consumers interact with digital assets.

Privy’s impressive scale provides immediate validation of the crypto wallet market’s maturity. With over 75 million accounts across more than 1,000 developer teams facilitating billions in transactions, the New York-based startup has proven that cryptocurrency wallets can achieve mainstream adoption when properly executed. Founded in 2021 by Henri Stern and Asta Li, Privy solved a critical problem in the crypto ecosystem by creating developer-friendly APIs that eliminate the technical barriers traditionally associated with wallet creation and blockchain integration.

The timing of this acquisition is particularly significant given the broader cryptocurrency market’s evolution toward practical utility rather than speculative trading. Privy’s technology spans multiple high-growth sectors including decentralized finance, gaming, artificial intelligence agents, and consumer applications, indicating that crypto infrastructure is becoming integral to diverse business models rather than remaining confined to niche financial applications.

Stripe’s strategic vision becomes clearer when considering how Privy’s capabilities complement the company’s existing strengths. The payments processor has built its reputation on simplifying complex financial operations for merchants, and cryptocurrency transactions represent the next logical frontier. By integrating Privy’s wallet technology with Bridge’s stablecoin infrastructure and Stripe’s global payment network, the company is creating a unified platform that could make cryptocurrency transactions as seamless as traditional card payments.

The acquisition’s structure reveals Stripe’s confidence in Privy’s independent value proposition. By allowing Privy to continue operating as an independent product, Stripe acknowledges that the crypto wallet market requires specialized expertise and dedicated focus. This approach mirrors successful technology acquisitions where the parent company provides resources and distribution while preserving the acquired company’s innovative culture and technical capabilities.

Patrick Collison’s statement about enabling “Internet-native financial services” hints at Stripe’s larger ambition to challenge traditional banking infrastructure. The combination of wallet technology, stablecoin capabilities, and global payment processing creates a powerful alternative to conventional financial systems, particularly for international transactions where traditional banking remains slow and expensive.

The undisclosed acquisition price, while notable, is less important than the strategic implications. Privy’s $40 million in raised capital from prominent investors including Ribbit Capital and Coinbase Ventures suggests a valuation multiple that reflects both current performance and future potential. For Stripe, which processes hundreds of billions in annual payment volume, the cost of this acquisition is minimal compared to the potential revenue from expanding into cryptocurrency infrastructure.

This acquisition positions Stripe to capture value from the inevitable growth in cryptocurrency adoption while maintaining its core business focus. As regulatory clarity improves and institutional adoption accelerates, companies with comprehensive crypto infrastructure will possess significant competitive advantages in the evolving digital economy.

Release – Bitcoin Depot Acquires the Assets of Regional Bitcoin ATM Operator Pelicoin, Expanding U.S. Presence

Posted on June 11, 2025June 11, 2025 by aweinsoff@channelchek.com

Research News and Market Data on BTM

June 11, 2025 8:00 AM EDT Download as PDF

Advances Bitcoin Depot’s Nationwide Expansion Strategy and Long-Term Growth Plans

ATLANTA, June 11, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot (NASDAQ: BTM), a U.S.-based Bitcoin ATM (“BTM”) operator and leading fintech company, announced it has acquired the assets of Pelicoin, LLC, a crypto ATM operator based in New Orleans, Louisiana. The deal will add kiosk locations across Louisiana, Mississippi, Tennessee, Alabama, and Texas, strengthening Bitcoin Depot’s presence in the Gulf South.

“Pelicoin is a strategic addition to our footprint in a region where we see real opportunity,” said Brandon Mintz, CEO and founder of Bitcoin Depot. “Pelicoin’s locations give us a stronger presence in the Gulf South, and we can immediately apply our scale and experience to operate their machines more efficiently. This acquisition is part of our broader effort to consolidate a fragmented market and extend our leadership in cash-to-crypto access nationwide. As the industry matures, we believe our ability to integrate and optimize smaller networks is a key advantage.”

Pelicoin’s ATM network will be fully integrated into Bitcoin Depot’s platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding.

“I’m extremely proud of what we built at Pelicoin,” said Will Haynie, Founder and CEO of Pelicoin. “What started as a small regional effort became a trusted brand throughout the Gulf South. Bitcoin Depot is one of the most respected names in the industry, and their ability to execute on this transaction quickly made them the obvious choice for us. Our network and loyal customers will add value to their growing operation, and those customers will now benefit from the advantages only a large-scale operator can provide, like 24/7 customer support, a strong compliance program, and continued investment in technology and service.”

For Pelicoin customers, there will be no disruptions. ATMs currently branded as Pelicoin will soon transition to Bitcoin Depot branding, with the same functionality, now backed by 24/7 customer support, a robust compliance team, and the advantages that come from working with an industry leader.

The financial terms of the transaction were not disclosed. For more information, visit www.bitcoindepot.com.

Contacts:

Investors 
Cody Slach
Gateway Group, Inc. 
949-574-3860 
BTM@gateway-grp.com

Media 
Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released June 11, 2025

Release – WhiteFiber Inc., Bit Digital’s AI Unit, acquires ~1,000,000 square foot North Carolina Industrial Property to Support up to 200 MW HPC Data Center Campus

Posted on June 2, 2025June 2, 2025 by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, June 2, 2025 /PRNewswire/ — WhiteFiber Inc., the wholly-owned HPC subsidiary of Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), announced today that it has completed the acquisition of a 96-acre, ~1 million square foot industrial property in Madison, North Carolina.

The Company will retrofit the facility into a flagship AI data center campus (“Facility”).

The Facility has immediately available power. The Company has entered into a capacity agreement with the utility, Duke Energy, for 99 MW, of which 24 MW are expected to be delivered on or about September 1, 2025. The Company expects to complete this first phase of HPC data center development and be online and operational by 2025 year-end. The utility’s preliminary feasibility study supports capacity up to 200 MW over time, subject to obtaining Electricity Service Agreements from Duke Energy and certain other conditions.

Strategically located in NC’s Piedmont Triad, the Facility sits within a 100-mile radius of Charlotte, Raleigh, Winston-Salem and Greensboro, and approximately 13 miles from the Virginia border. The region is home to numerous existing hyperscalers. The Company is in active negotiations with multiple potential HPC data center tenants and has already signed one non-binding LOI with a client. Moreover, its proximity to multiple metro areas supports AI inference workloads.

Based on initial capital investment projections, the project has been confirmed as a qualifying data center in the State of North Carolina and will therefore be eligible for certain sales and use tax exemptions. The Company has been working closely with local and state officials, economic development agencies, and utility partners whose collaboration has been instrumental in advancing the project.

“North Carolina’s leadership in high performance computing started decades ago with our research universities, the Research Triangle, and our focus on the future,” said North Carolina Governor Josh Stein. “WhiteFiber’s decision to join our state’s IT community will help bring the next generation of computing excellence to North Carolina.”

“Securing this site is a meaningful step in scaling our AI infrastructure platform,” said Sam Tabar, CEO of Bit Digital. “The location, size, and power profile make it a rare asset, which we believe will be foundational to meet accelerating demand from AI customers and pursue long-term value creation for shareholders. We acted decisively to secure what we believe will be a cornerstone asset for our Company.”

“We are thrilled to welcome WhiteFiber to our community,” said Kevin Berger, Chair of the Rockingham County Board of Commissioners. “Their planned investment of over $1 billion¹ and creation of more than 60 jobs is a tremendous boost for our region.”

“The Town of Madison is excited to have WhiteFiber invest in our community,” remarked Madison Mayor William Phillips. “Transforming the former Unifi facility into a state-of-the-art AI data center campus is a remarkable step forward for our local economy.”

The Company is using cash on hand to fund the $45 million purchase. The Company previously utilized its at-the-market equity program to reserve cash on its balance sheet in anticipation of closing. The Company intends to engage in a commercial mortgage financing process for the site.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors. See “Safe Harbor Statement” below.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Release – Bitcoin Depot Eliminates Up-C Corporate Structure

Posted on May 30, 2025May 30, 2025 by aweinsoff@channelchek.com

Research News and Market Data on BTM

May 30, 2025 8:00 AM EDT Download as PDF

Simplified Corporate Structure Reduces Compliance and Reporting Complexity, Lowers Cash Tax Burden

ATLANTA, May 30, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot Inc. (Nasdaq: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, announced it has simplified its organizational and capital structure by eliminating its Up-C Restructuring (the “Up-C Restructuring”).

Pursuant to the Up-C Restructuring, BT Assets, Inc., an entity controlled by the Company’s Founder and CEO, Brandon Mintz, that held Common Units in BT HoldCo LLC and shares of the Company’s Class V Common Stock has merged with a subsidiary of the Company and received 41,193,024 shares of the Company’s Class M common stock, which will continue to carry 10 votes per share, as consideration in the merger.

In connection with the Up-C Restructuring, all of the shares of the Company’s Class V Common Stock held by BT Assets have been transferred to the Company and cancelled. After giving effect to the Up-C Restructuring, Mintz holds a total of 41,193,024 shares of the Company’s Class M Common Stock and 142,973 shares of the Company’s Class A Common Stock.

Post-transaction, Bitcoin Depot now wholly-owns its principal operating subsidiaries. The Company believes the simpler structure will offer benefits like better stock liquidity, easier use of stock for acquisitions, and a clearer corporate profile.

In addition, the Up-C Restructuring extinguishes the $2.2 million Tax Receivable Agreement liability and will lead to further long-term savings, as the Company estimates its cash tax rate will be reduced by an estimated 12 percentage points. Other professional services costs associated with tax, accounting and legal will also be reduced by this simpler structure.

About Bitcoin Depot

Bitcoin Depot Inc. (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to bitcoin at Bitcoin Depot kiosks in 48 states and at thousands of name-brand retail locations in 29 states through its BDCheckout product. The Company has the largest market share in North America with over 8,400 kiosk locations as of February 25, 2025. Learn more at www.bitcoindepot.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release and any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including our growth strategy and ability to increase deployment of our products and services, our ability to strengthen our financial profile, and worldwide growth in the adoption and use of cryptocurrencies. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. Forward-looking statements are often identified by words such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,“ ”plan,“ ”potential,“ ”priorities,“ ”project,“ ”pursue,“ ”seek,“ ”should,“ ”target,“ ”when,“ ”will,“ ”would,” or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

Contacts:

Investors
Cody Slach,
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com

Media
Brenlyn Motlagh, Ryan Deloney
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released May 30, 2025

Release – Bit Digital, Inc. Announces First Quarter of Fiscal Year 2025 Financial Results

Posted on May 15, 2025May 19, 2025 by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, May 15, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City, today announced its financial results for the First Quarter of 2025. The Company will host a conference call on May 16, 2025, at 10:00 AM ET to discuss results (click here for registration information).

Financial Highlights for First Quarter of 2025

Total revenue for the First Quarter of 2025 was $25.1 million, a 17% decrease compared to the prior year’s results. The decrease was driven by a decline in Digital asset mining revenue following the April 2024 halving and partially offset by continued growth in Cloud services revenue and the addition of Colocation services revenue.
Revenue from bitcoin mining was $7.8 million for the quarter, a 64% decrease compared to the prior year’s quarter. Cloud services revenue was $14.8 million, an 84% increase from the prior year’s quarter. Colocation services revenue was $1.6 million for the quarter as compared to none in the prior year’s quarter. ETH staking revenue was $0.6 million for the quarter, a 72% increase from the prior year’s quarter.
Revenue from digital asset mining comprised 31% of total revenue for the first quarter of 2025 compared to 72% for the prior year’s quarter.
The Company had cash, cash equivalents and restricted cash of $61.3 million, and total liquidity (defined as cash, cash equivalents and restricted cash, USDC, and the fair market value of digital assets) of approximately $141.4 million, as of March 31, 2025.
Total assets were $458.2 million and Shareholders’ Equity amounted to $417.4 million as of March 31, 2025.
Adjusted EBITDA¹ was $(44.5) million for the First Quarter of 2025 compared to $58.5 million for the first quarter of 2024. Adjusted EBITDA for Q1 2025 includes $49.2 million in mark-to-market losses on digital assets compared to $45.7 million of gains in Q1 2024.
GAAP loss per share was $(0.32) on a fully diluted basis for the First Quarter of 2025 compared to earnings per share of $0.43 for the first quarter of 2024.

Operational Highlights for First Quarter of 2025

The Company earned 83.3 bitcoins during the First Quarter of 2025, an 80% decrease from the prior year. The decline was driven by a reduction in block rewards following the halving event in April 2024, an increase in network difficulty, and a decrease in the Company’s average operational hash rate following a fleet deployment in connection with the Company’s exit from Coinmint facilities.
The Company earned 211.0 ETH in native staking for the three months ended March 31, 2025.
Treasury holdings of BTC and ETH were 417.6 and 24,434.2, respectively, with a fair market value of approximately $34.5 million and $44.5 million on March 31, 2025, respectively.
As of March 31, 2025, we had 20,854 miners owned or operating (in Iceland) for bitcoin mining with a total maximum hash rate of 2.4 EH/s. The Company’s active hash rate of its bitcoin mining fleet was approximately 1.5 EH/s as of March 31, 2025.
The Company had approximately 21,568 ETH actively staked in native staking protocols as of March 31, 2025.
As of January 1, 2025, Bit Digital officially transitioned to domestic issuer status under U.S. securities law.
In January 2025, the Company entered into a new agreement to supply its first customer for an additional 464 B200 GPUs for a period of eighteen months. This new agreement replaced the prior agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs. The contract represents approximately $15 million of annualized revenue and features a two-month prepayment from the customer. The customer has elected to defer the commencement date until August 20^th, 2025, which is the latest allowable date under the agreement.
In addition to the above, the Company signed multiple new cloud services agreements during the first quarter totaling more than 200 NVIDIA H200 GPUs, with contract durations ranging from one to twelve months. These deployments supported training and inference workloads and reflect continued momentum and customer diversification across the Company’s GPU cloud platform.
In February, the Company officially rebranded its HPC business as WhiteFiber, Inc., encompassing its GPU cloud services and HPC data center platform, Enovum Data Centers.
In February, the Company, through its high-performance computing platform WhiteFiber, secured a five-year, 5MW colocation agreement with Cerebras Systems (“Cerebras”), a leader in generative AI. In April, Bit Digital announced the selection of a new data center site in Saint-Jérôme, Québec (“MTL-3“) to fulfill the contract. The facility, being developed by Enovum under a lease-to-own structure, is expected to commence operations in July 2025, with total development costs estimated at approximately CAD $55 million (approximately $40 million USD). Cerebras holds a right of first refusal for additional capacity at the site.
In March, the Company announced a strategic partnership between WhiteFiber and Shadeform, a leading multi-cloud GPU marketplace, to deliver on-demand access to NVIDIA B200 GPUs. Bit Digital received its first shipment of B200s during the quarter, comprising 64 servers (512 GPUs), and began phased deployment in April. Through the Shadeform integration, WhiteFiber’s GPU cloud became globally accessible across more than 100 regions, enabling developers and enterprises to access high-performance AI infrastructure without long-term commitments
In March 2025, the Company executed two new service orders under its existing agreement with Boosteroid, a global cloud gaming provider. The orders total 701 GPU servers under five-year terms, with deployments scheduled to commence in May and June 2025. These new contracts represent approximately $2.1 million in annualized contract value, bringing total contract value from Boosteroid to approximately $3.6 million annually and over $18 million in total contract value.

Subsequent Events

In April 2025, the Company entered into a definitive agreement to acquire a data center property in Madison, North Carolina. Closing of the transaction is subject to customary closing conditions, including receipt of an energy study verifying utility capacity. An earnest money deposit of $2.25 million was deposited in escrow pursuant to the terms of the Purchase Agreement, of which $1.25 million is non-refundable to us.
In April 2025, the Company signed two additional cloud services agreements with DNA Fund. The first agreement, commencing in early May 2025, includes 104 NVIDIA H200 GPUs under a 25-month term. The second, expected to commence in May 2025, includes 512 H200 GPUs under a 23-month term. With these additions, DNA Fund’s total contracted deployment increased to 1,192 GPUs. Combined, the agreements represent approximately $20.9 million of annualized revenue.

Management Commentary

“Our first quarter results were affected by mark-to-market losses on digital assets and lower bitcoin mining revenue, both of which reflect industry-wide headwinds and the strategic rebalancing of our business. We continued to make meaningful progress in scaling our infrastructure platform and diversifying our revenue streams.

Cloud services revenue increased 84% compared to the year-ago period and accounted for the majority of total revenue. Demand was driven by both long-term enterprise contracts and short-term workloads from AI-native developers. Our strategic investments in next-generation hardware and distribution partnerships, including B200 deployments and our integration with Shadeform, helped expand platform reach and customer access.

Colocation services contributed a full quarter of revenue following our acquisition of Enovum in late 2024. We expect this business line to become a major growth engine as we expand our development pipeline to meet growing customer demand.

Bitcoin mining accounted for 31% of total revenue in the quarter, down from 40% in Q4 and 72% a year ago. The decline reflects both the halving event and the ongoing redeployment of miners from Coinmint facilities, which we used as an opportunity to retire less efficient assets and reposition our fleet. While mining remains a component of our platform, we expect its contribution to continue declining over time as our infrastructure businesses grow.

Gross margins improved both sequentially and year-over-year, driven by stronger contribution from Cloud and Colocation segments and ongoing cost discipline. We ended the quarter with approximately $140 million in total liquidity and no debt, giving us the flexibility to invest in high-return initiatives.

We advanced our platform on several fronts, deploying NVIDIA B200 GPUs, expanding key customer relationships, and progressing our datacenter expansion strategy. These milestones support our roadmap and reflect our growing relevance in the AI infrastructure landscape. As we scale our platform, we remain focused on disciplined execution and long-term value creation.”

About Bit Digital

Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. The Company’s HPC business operates under the WhiteFiber Inc. (“WhiteFiber”) brand. Our operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. The risk factor in the Form 10-K titled “If we are classified as a passive foreign investment company (“PFIC”) U.S. taxpayers who own our ordinary shares may have adverse United States federal income tax consequences” has been modified to the extent that Management has obtained a third party analysis for 2024 and does not believe that Bit Digital should be classified as a PFIC for 2024. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See “Safe Harbor Statement” below.

Safe Harbor Statement

Release – QuoteMedia Announces Financial Results for Q1 2025

Posted on May 15, 2025May 19, 2025 by aweinsoff@channelchek.com

Research News and Market Data on QMCI

PHOENIX, May 15, 2025 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the quarter ended March 31, 2025.

QuoteMedia provides banks, brokerage firms, private equity firms, financial planners and sophisticated investors with a more economical, higher quality alternative source of stock market data and related research information. We compete with several larger legacy organizations and a modest community of other smaller companies. QuoteMedia provides comprehensive market data services, including streaming data feeds, on-demand request-based data (XML/JSON), web content solutions (financial content for website integration) and applications such as Quotestream Professional desktop and mobile.

Highlights for Q1 2025 include the following:

Quarterly revenue increased by $145,156 (3%) to $4,824,356 in Q1 2025 from $4,679,200 in Q1 2024.
On an FX-neutral basis (FXN), revenue growth for Q1 2025 vs Q1 2024 was 5% ₍₁₎.
Adjusted EBITDA ₍₁₎for Q1 2025 was $368,269 compared to $676,886 in Q1 2024, a reduction of $308,617.
Our net loss for Q1 2025 was $499,811 compared to a net loss of $28,176 in Q1 2024, a decrease in profitability of $471,635.

“This was a successful quarter for QuoteMedia,” said Robert J. Thompson, Chairman of the Board. “As previously forecast, our quarterly revenue was the highest in company history, despite the challenges we faced in 2024. We expect to see continued growth throughout the year, culminating in our highest ever annual revenue.

“And, while we had a significant loss for the quarter and decreased Adjusted EBITDA, this was largely attributable to capitalizing a lower proportion of development costs than were capitalized in previous quarters. While this had no impact on cashflow, it increased development costs expensed in the quarter. This treatment of development costs will continue moving forward, however, we expect to see improvements in profitability in future quarters.

“This has been a good start to 2025, and we are excited about the opportunities ahead.”

QuoteMedia will host a conference call Friday, May 16, 2025, at 2:00 PM Eastern Time to discuss the Q1 2025 financial results and provide a business update.

Conference Call Details:

Date: May 16, 2025

Time: 2:00 PM Eastern Time

Dial-in numbers: 888-999-3182; 848-280-6330
Conference ID: QUOTEMEDIA

Or use the Conference Link below to bypass the operator: https://link.meetingpanel.com/?id=quotemedia_first_quarter_results

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Bank of Montreal (BMO), Broadridge Financial Systems, JPMorgan Chase, Scotiabank, CI Financial, Canaccord Genuity Corp., Hilltop Securities, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, The Goldman Sachs Group, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Credential Qtrade Securities, CNW Group, iA Private Wealth, Ally Invest, Inc., Suncor, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Stock-Trak, Mergent, Cision and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

Statements about QuoteMedia’s future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company’s SEC reports and filings and are subject to change at any time. QuoteMedia’s actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

Below are the specific forward-looking statements included in this press release:

We expect to see continued growth throughout the year, culminating in our highest ever annual revenue.
This treatment of development costs will continue moving forward, however, we expect to see improvements in profitability in future quarters.

QuoteMedia Investor Relations

Dave Shworan
Email: dave@quotemedia.com
Call: (250) 954-3216 ext. 2101

Note 1 on Non-GAAP Financial Measures

We believe that Adjusted EBITDA, as a non-GAAP pro forma financial measure, provides meaningful information to investors in terms of enhancing their understanding of our operating performance and results, as it allows investors to more easily compare our financial performance on a consistent basis compared to the prior year periods. This non-GAAP financial measure also corresponds with the way we expect investment analysts to evaluate and compare our results. Any non-GAAP pro forma financial measures should be considered only as supplements to, and not as substitutes for or in isolation from, or superior to, our other measures of financial information prepared in accordance with GAAP, such as net income attributable to QuoteMedia, Inc.

We define and calculate Adjusted EBITDA as net income attributable to QuoteMedia, Inc., plus: 1) depreciation and amortization, 2) stock compensation expense, 3) interest expense, 4) foreign exchange loss (or minus a foreign exchange gain), and 5) income tax expense. We disclose Adjusted EBITDA because we believe it is a useful metric by which to compare the performance of our business from period to period. We understand that measures similar to Adjusted EBITDA are broadly used by analysts, rating agencies, investors and financial institutions in assessing our performance. Accordingly, we believe that the presentation of Adjusted EBITDA provides useful information to investors. The table below provides a reconciliation of Adjusted EBITDA to net income attributable to QuoteMedia, Inc., the most directly comparable GAAP financial measure.

QuoteMedia, Inc. Adjusted EBITDA Reconciliation to Net Income:

Three-months ended March 31,	2025			2024

Net loss	$	(499,811	)	$	(28,176	)
Depreciation and amortization		805,504			728,678
Stock-based compensation		–			–
Interest expense		2,387			953
Foreign exchange loss		(5,962	)		(25,307	)
Income tax expense		66,151			738
Adjusted EBITDA	$	368,269		$	676,886

In addition to the non-GAAP measures discussed above, we also analyze certain measures, including net revenues and operating expenses, on an FX-neutral basis to better measure the comparability of operating results between periods. Management believes that changes in foreign currency exchange rates are not indicative of the company’s operations and evaluating growth in net revenues and operating expenses on an FX-neutral basis provides an additional meaningful and comparable assessment of these measures to both management and investors. FX-neutral results are calculated by translating the current period’s local currency results with the prior period’s exchange rate. FX-neutral growth rates are calculated by comparing the current period’s FX-neutral results by the prior period’s results.

News Provided by GlobeNewswire via QuoteMedia

Release – Bitcoin Depot Reports First Quarter 2025 Financial Results

Posted on May 15, 2025May 15, 2025 by aweinsoff@channelchek.com

Research News and Market Data on BTM

May 15, 2025 8:00 AM EDT Download as PDF

Q1 Revenue up 19% Year-Over-Year to $164.2 Million

Q1 Net Income up Significantly to $12.2 Million Compared to a Net Loss of $4.2 Million in the Prior Year Quarter

Q1 Adjusted Gross Profit up 92% Year-Over-Year to $33.1 Million

Q1 Adjusted EBITDA up 315% Year-Over-Year to $20.3 Million

Q1 Cash from Operations of $16.3 Million

ATLANTA, May 15, 2025 (GLOBE NEWSWIRE) — Bitcoin Depot Inc. (Nasdaq: BTM) (“Bitcoin Depot” or the “Company”), a U.S.-based Bitcoin ATM operator and leading fintech company, today reported financial results for the first quarter ended March 31, 2025. Bitcoin Depot will host a conference call and webcast at 10:00 a.m. ET today. An earnings presentation and link to the webcast will be made available at ir.bitcoindepot.com.

“Bitcoin Depot delivered a remarkable first quarter, with 19% year-over-year revenue growth and a more than threefold increase in Adjusted EBITDA to $20 million,” said Brandon Mintz, Founder and CEO of Bitcoin Depot. “This performance demonstrates the strength of our operating model, the success of our kiosk optimization strategy, and the powerful cash flow we can generate once fixed costs are covered. In fact, with the cash generated in Q1, we strengthened our balance sheet by increasing our bitcoin holdings and building our cash balance, positioning us for continued growth and flexibility. Looking ahead, we remain focused on scaling responsibly, both domestically and internationally, while delivering sustained value to both our customers and shareholders.”

First Quarter 2025 Financial Results

Revenue in the first quarter of 2025 increased 19% to $164.2 million compared to $138.5 million in the first quarter of 2024. This increase was driven by increased kiosk deployment and higher median transaction size.

Total operating expenses declined 7% to $15.3 million for the first quarter of 2025 compared to $16.6 million for the first quarter of 2024 due to lower depreciation expense and insurance costs as the Company continues to optimize its cost structure as a steady-state public company.

Net income for the first quarter of 2025 increased significantly to $12.2 million, compared to a net loss of $4.2 million for the first quarter of 2024. Net income attributable to common shareholders increased to $4.2 million, or $0.20 per share, from a net loss of $1.5 million, or ($0.25) per share, in last year’s first quarter. The increase was due to higher revenue and gross profit in 2025.

Adjusted gross profit, a non-GAAP measure, in the first quarter of 2025 increased 92% to $33.1 million from $17.3 million for the first quarter of 2024. Adjusted gross profit margin, a non-GAAP measure, in the first quarter of 2025 increased approximately 770 basis points to 20.2% compared to 12.5% in the first quarter of 2024. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

Adjusted EBITDA, a non-GAAP measure, in the first quarter of 2025 increased 315% to $20.3 million compared to $4.9 million for the first quarter of 2024. The increase was primarily due to the higher revenue and gross profit. Please see “Explanation and Reconciliation of Non-GAAP Financial Measures” below.

Cash, cash equivalents, and cryptocurrencies as of March 31, 2025, were $43.3 million compared to $31.0 million at the end of 2024. The company used $7.8 million in the first quarter of 2025 to acquire 83 more Bitcoin, bringing the total held for investment to 94.35 BTC.

Net cash flows provided by operations in the first quarter of 2025 were up significantly to $16.3 million compared to $1.3 million in the first quarter of 2024.

Outlook

The Company expects revenue in the second quarter of 2025 to grow low-to-mid-single digits on a percentage basis from the second quarter of 2024.

Conference Call

Bitcoin Depot will hold a conference call at 10:00 a.m. Eastern time (7:00 a.m. Pacific time) today to discuss its financial results for the first quarter ended March 31, 2025.

Call Date: Thursday, May 15, 2025
Time: 10:00 a.m. Eastern time (7:00 a.m. Pacific time)

Phone Instructions
U.S. and Canada (toll-free): 888-596-4144
U.S. (toll): 646-968-2525
Conference ID: 4520708

Webcast Instructions
Webcast link: https://edge.media-server.com/mmc/p/akdxpm7o

A replay of the call will be available beginning after 2:00 p.m. Eastern time through May 22, 2025.

U.S. & Canada (toll-free) replay number: 800-770-2030
U.S. toll number: 609-800-9909
Conference ID: 4520708

If you have any difficulty connecting with the conference call, please contact Bitcoin Depot’s investor relations team at 1-949-574-3860.

About Bitcoin Depot

Cautionary Statement Regarding Forward-Looking Statements

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of our projected financial information; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; our ability to manage future growth; our ability to develop new products and services, bring them to market in a timely manner and make enhancements to our platform; the effects of competition on our future business; our ability to issue equity or equity-linked securities; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors described or referenced in filings with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change.

View full release here.

Contacts:

Investors
Cody Slach,
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com

Media
Brenlyn Motlagh, Ryan Deloney
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com

Source: Bitcoin Depot Inc.

Released May 15, 2025

GoHealth (GOCO) – Diversifying Revenues With A New Offering

Posted on May 14, 2025May 14, 2025 by cpereira@noblefcm.com

Wednesday, May 14, 2025

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

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

Q1 results. The company reported Q1 revenue of $221.0 million and adj. EBITDA of $42.1 million. The results were below our estimates of $235.0 million in revenue and $49.3 million in adj. EBITDA. Notably, the results did align with management’s previous commentary that the company would execute favorable year-over-year revenue growth in the quarter (revenue was up 19% and adj. was up 56%).

Testing final expense offering. The company recently launched GoHealth Protect, which is its guaranteed acceptance life insurance (final expense) offering. For now, the company is testing out which products fit best with consumers and what the demand function looks like across the Medicare eligible population. Importantly, as the final expense business scales, we believe it could help to balance out the company’s quarterly revenue profile, which is currently concentrated around Q4 and Q1.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

SelectQuote (SLQT) – Prescription for Profit: Targets Pharmacy Margin Expansion

Posted on May 13, 2025May 13, 2025 by cpereira@noblefcm.com

Tuesday, May 13, 2025

Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

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

FY Q3 results. The company reported fiscal Q3 revenue of $408.2 million, largely in line with our estimate of $417.0 million. Adj. EBITDA of $37.7 million was 10% lower than our estimate of $41.8 million, the variance largely due to higher cost of revenue.

Focusing on Pharmacy efficiency. In April, the company opened its new fulfillment center in Kansas, which is expected to drive higher profitability in the Healthcare Services segment over the long-term through newer technology and machinery. We expect the new facility to be a drag on profitability over the next quarter or so, however, due to the investments the company is making in the facility. The launch of the new facility aligns with the company’s goal to focus more on Healthcare Service profitability, given the scale that the segment has already achieved (approx. 106k SelectRx members).

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

QuoteMedia Inc. (QMCI) – A Sanguine Outlook For 2025

Posted on April 17, 2025April 17, 2025 by cpereira@noblefcm.com

Thursday, April 17, 2025

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Day Trade Dash and others. Quotestream®, QModTM and Quotestream ConnectTM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

2024 in the rearview mirror. The company reported Q4 revenue of $4.7 million and adj. EBITDA of $0.2 million, both of which were largely in line with our estimates of $4.6 million and $0.3 million, respectively. Notably, both revenue and adj. EBITDA for 2024 decreased from the prior year, which was largely attributed to key clients facing difficulties during the year and reduced spending or discontinued services entirely.

2025 revenue outlook appears more promising. Management indicated that the Q1 revenue outlook should significantly improve, with Q1 expected to achieve the highest quarterly revenue in company’s history, near $5 million. Notably, management indicated that it is currently not affected by the geopolitical environment or the impact of tariffs. As such, it remains sanguine about the opportunity for the company to achieve at least $20 million in revenue for full year 2025.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

QuoteMedia Inc. (QMCI) – Not Getting Revenue Traction

Posted on April 16, 2025April 16, 2025 by cpereira@noblefcm.com

Wednesday, April 16, 2025

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Day Trade Dash and others. Quotestream®, QModTM and Quotestream ConnectTM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

In-line results. The company reported Q4 revenue of $4.7 million and adj. EBITDA of $0.2 million, both of which were largely in line with our estimates of $4.6 million and $0.3 million, respectively, as illustrated in Figure #1 Q4 Results. Notably, both revenue and adj. EBITDA for 2024 decreased from the prior year, which was largely attributed to key clients facing difficulties during the year and reducing spending or discontinuing services entirely.

A difficult year. During the company’s Q3 earnings call, management highlighted the loss of a large client and indicated that some of its other clients are facing financial hardship, even though management indicated that there was a strong pipeline, albeit with a long ramp-up period. As such, the year-end results were largely expected to be lackluster.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Bit Digital (BTBT) – First Cerebras Systems Location Secured

Posted on April 15, 2025April 15, 2025 by cpereira@noblefcm.com

Tuesday, April 15, 2025

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

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

New Tier 3 Site. Bit Digital announced that it has secured the rights to a new data center site in Saint-Jérôme, Québec (to be known as Montreal-3). This site, which is under development, will support the previously announced 5MW colocation agreement with Cerebras Systems, a leader in generative AI infrastructure.

Details. The facility spans approximately 202,000 square feet on 7.7 acres. In addition to the current Cerebras agreement, the facility has future expansion potential, subject to utility approvals. The transaction was executed under a lease-to-own structure, which includes a fixed-price purchase option exercisable within 12 months. The lease term is 20 years, with two 5-year extension options. The facility is being retrofitted to Tier 3 standards. Bit Digital expects development costs to total approximately CAD $55 million (approximately $40MM USD), and a targeted go-live date of July 2025.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).