Tag: BTBT

Release – WhiteFiber and Shadeform Announce Strategic Partnership to deliver on-demand access to NVIDIA B200 GPUs

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, March 20, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced today that subsidiary WhiteFiber, a leading provider of high-performance GPU cloud infrastructure, and Shadeform, the premier multi-cloud GPU marketplace have entered a strategic partnership to bring on-demand NVIDIA B200 GPUs to customers beginning in April.

This partnership combines WhiteFiber’s next-generation AI/ML optimized GPU cloud with Shadeform’s expansive, multi-cloud management capabilities, and GPU marketplace. Organizations and developers in more than 100 regions worldwide will experience immediate access to cutting-edge high-performance AI infrastructure that was previously out of reach due to up-front costs and long-term commitments.

“The WhiteFiber GPU Cloud is at the forefront of next-generation infrastructure for AI and machine learning,” said Ed Goode, CEO at Shadeform. “Their platform architecture not only delivers the most powerful GPUs available, but optimizes for performance across the entire infrastructure stack to maximize utilization and efficiency. We’re thrilled to offer WhiteFiber’s upcoming NVIDIA B200 GPUs to our customers, unlocking new possibilities for startups and developers who otherwise wouldn’t have access.”

Benjamin Lamson, Head of Revenue at WhiteFiber, added, “We’re excited to partner with Shadeform to deliver cutting-edge GPU technology directly to enterprises and startups. Starting in April, Shadeform customers will have immediate on-demand access to our NVIDIA B200 GPUs, without requiring long-term commitment. This partnership represents a significant step forward in democratizing high-performance AI capabilities, empowering global innovation and accelerating growth for AI developers and organizations alike.”

Organizations interested in exploring how WhiteFiber’s GPU Cloud solutions can accelerate their AI initiatives are encouraged to visit WhiteFiber.com for more information and to receive updates on the upcoming launch of NVIDIA B200 GPUs.

About Bit Digital

Bit Digital (@BitDigital_BTBT), 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 (@WhiteFiber_). 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. 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

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.

Bit Digital (BTBT) – Building on its Pipeline

Posted on by cpereira@noblefcm.com


Tuesday, March 18, 2025

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.

4Q Results. Total revenue for the quarter was $26.1 million, as the HPC business added $14.4 million from last year. We estimated revenue of $29.6 million. Higher G&A and D&A costs partially offset a $43.4 million digital asset gain, resulting in an operating income of $28.8 million. Net income was $29.0 million from $17,700 a year ago. Adjusted EBITDA was $40.1 million from $14.0 million last year.

Pipeline Building Up. Management noted that demand has surged for the B200 GPUs, and with the introduction of DeepSeek, customers are also in demand of the H100 and H200 GPUs. Furthermore, the Company’s data center pipeline has expanded to 510MW from 288MW last quarter. With the increase in demand and management in active discussions with potential customers, we expect more agreements to be announced sooner rather than later.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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) – Building on its Pipeline

*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. 

Release – Bit Digital, Inc. Announces Fiscal Year 2024 Financial Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data BTBT

NEW YORK, March 14, 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 Fiscal Year 2024. In conjunction with the Company’s transition to domestic filer status, Bit Digital filed its Form 10K report with the U.S. Securities and Exchange Commission (“SEC”) on March 14, 2025. The Company will host a conference call on March 14, 2025, at 10:00 AM ET to discuss results (click here for registration information).

Financial Highlights for Fiscal Year 2024

  • Total revenue for fiscal year 2024 was $108.1 million, a 141% increase compared to the prior year’s results. The increase was primarily driven by the commencement of our high performance computing services (“HPC”) business.
  • Revenue from bitcoin mining was $58.6 million for fiscal year 2024 , a 32% increase compared to the prior year. Cloud services revenue was $45.7 million for 2024 compared to nil the prior year. Colocation services revenue, related to the Company’s acquisition of Enovum Data Centers Corp in October 2024, was $1.4 million for the period. ETH staking revenue was $1.8 million for 2024, a 169% increase from the prior year.
  • Revenue from digital asset mining comprised 54% of total revenue for 2024 compared to 98% during 2023. The change was driven by the commencement of the Company’s HPC business lines, with cloud services revenue generating 42% of total 2024 revenue. Digital asset mining comprised 40% of revenue during the fourth quarter of 2024.
  • The Company had cash, cash equivalents and restricted cash of $98.9 million, and total liquidity (defined as cash, cash equivalents and restricted cash, USDC, and the fair market value of digital assets) of approximately $260.7 million, as of December 31, 2024.
  • Total assets were $538.2 million and Shareholders’ Equity amounted to $463.5 million as of December 31, 2024
  • Adjusted EBITDA 1 was $73.0 million for the fiscal year 2024 compared to $12.4 million for fiscal year 2023. Adjusted EBITDA includes a $55.7 million in pre-tax gains on digital assets.
  • GAAP earnings per share was $0.19 on a fully diluted basis for fiscal year 2024 compared to a loss per share of $(0.16) for the prior year.

Operational Highlights for Fiscal Year 2024

  • The Company earned 949.9 bitcoins during fiscal year 2024 , a 37% decrease from the prior year. The decline was primarily driven by a reduction in block rewards following the halving event in April 2024 and by an increase in network difficulty, and partially offset by an increase in the Company’s average operational hash rate.
  • The Company paid approximately $0.05 per kilowatt hour to its hosting partners for electricity consumed for mining operations during fiscal year 2024 .
  • The average fleet efficiency for the active fleet was approximately 26.2 J/TH as of December 31, 2024.
  • The Company earned 565.1 ETH in native staking and 1.3 ETH in liquid staking, respectively, during 2024, compared to 287.0 ETH in native staking and 81.9 ETH/rETH-h in liquid staking, respectively, for 2023.
  • Treasury holdings of BTC and ETH were 741.9 and 27,623.2, respectively, with a fair market value of approximately $69.3 million and $92.1 million on December 31, 2024, respectively.
  • As of December 31, 2024, we had 24,239 miners owned or operating (in Iceland) for bitcoin mining with a total maximum hash rate of 2.6 EH/s.
  • The Company’s active hash rate of its bitcoin mining fleet was approximately 1.8 EH/s as of December 31, 2024.
  • Approximately 85% of our fleet’s run-rate electricity consumption was generated from carbon-free energy sources as of December 31, 2024. These figures are based on data provided by our hosts, publicly available sources, and internal estimates, demonstrating our commitment to sustainable practices in the digital asset mining industry.
  • The Company had approximately 21,568 ETH actively staked in native staking protocols as of December 31, 2024.
  • On October 9, 2024, the Company executed a Master Services and Lease Agreement (“MSA”) with Boosteroid Inc. (“Boosteroid”), a global cloud gaming provider. The Company finalized an initial order of 300 GPUs, projected to generate approximately $4.6 million in revenue over the five-year term. The MSA provides Boosteroid with the option to expand in increments of 100 servers, up to 50,000 servers, representing a potential $700 million revenue opportunity over the five-year term, subject to deployment plans and market conditions. The Company anticipates additional deployments throughout 2025.
  • On October 14, 2024, Bit Digital announced the acquisition of Enovum Data Centers (“Enovum”) for a total consideration of CAD $62.8MM (approximately USD $46MM based on a CAD/USD exchange rate of 0.73). The acquisition was completed on a debt-free basis, with a normalized level of working capital acquired, funded by approximately CAD $56 million of cash and approximately 1.62 million share equivalents issued solely to key management who rolled-over a significant portion of their existing ownership in Enovum. The transaction closed on October 11, 2024. The acquisition vertically integrated Bit Digital’s HPC operations with a 4MW Tier 3 datacenter in Montreal that is fully leased to a plurality of colocation customers. It also provided Bit Digital with a robust expansion pipeline and an experienced team to lead the development process.
  • On December 30, 2024, the Company signed a Master Services Agreement (MSA) with DNA Fund for services utilizing 576 H200 GPUs over 25 months, representing $20.2 million in total revenue.
  • On December 27, 2024, the Company acquired a 160,000 sq. ft. site in Pointe-Claire, QC for a planned 5MW Tier-3 data center expansion. The site is expected to be operational by June 2025, will feature direct-to-chip liquid cooling and a heat reject loop to enhance energy efficiency. The facility will be powered by 100% renewable hydroelectricity from Hydro-Quebec. The Company expects to invest approximately $19.3 million to develop the site, with potential expansion to 13MW within 24-36 months, subject to Hydro-Quebec approval. A portion of the capacity is expected to support the Company’s cloud services business. The acquisition was initially self-funded, with mortgage financing in progress.

Subsequent Events

  • As of January 1, 2025, Bit Digital officially transitioned to domestic issuer status under U.S. securities regulations.
  • New Cloud Services Agreements:
    • January 2025 – Signed an MSA for 32 H200 GPUs over six months, representing $300,000 in total revenue. Deployment began January 8, 2025.
    • January 2025 – Signed an MSA for 24 H200 GPUs over 12 months, representing $450,000 in total revenue. Deployment began January 27, 2025.
    • January 30, 2025 – Signed an MSA for 40 H200 GPUs over 12 months, representing $750,000 in total revenue. Deployment began January 24, 2025.
  • 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 replaces 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.
  • On February 6, 2025, 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 2025, the Company, through its newly rebranded HPC business WhiteFiber, Inc., secured a five-year colocation agreement to provide 5MW (IT load) of built-to-suit data center infrastructure with Cerebras Systems, a leading accelerator of generative AI. The contract will be fulfilled at an Enovum-developed site, with the location to be announced. Operations are expected to commence in mid-2025.

Management Commentary

“2024 marked a pivotal shift for Bit Digital. Our business was historically driven by digital asset mining, but the successful launch and rapid expansion of our fundamentally reshaped our company. This evolution drove over 140% revenue growth, with these new business lines contributing nearly half of total revenue.

A defining milestone in this transformation was our acquisition of Enovum Data Centers in October. More than just an infrastructure expansion, Enovum provided us with a proven team, operational expertise, and a scalable platform to develop and operate data centers. It also introduced colocation services as a new business line, further diversifying our revenue streams and strengthening our AI compute capabilities.

Bitcoin mining remained a key revenue contributor, generating $58.6 million, a 32% increase year-over-year. However, as our HPC business scaled, mining’s share of total revenue declined to 54% in 2024, and further to 40% in Q424, compared to 98% in 2023. This shift underscores our strategic pivot toward infrastructure-driven revenue streams while maintaining disciplined mining operations.

Profitability improved alongside business expansion, supported by stronger gross margins and operational efficiencies. A strong liquidity position and no debt provide the flexibility to make targeted investments that enhance capabilities and long-term competitiveness. The Company is actively exploring cost-effective financing options to support expansion while maintaining financial discipline.

We are continuously exploring new ways to unlock and create shareholder value, ensuring that we remain dynamic and well-positioned for future opportunities.”

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. 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 

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 – Bit Digital, Inc. Announces Date for Fiscal Year 2024 Financial Results and Conference Call

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, March 7, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced today that it will release its Fiscal Year 2024 results on Friday, March 14, 2025, before the stock market opens. Senior management will host a live webcast and conference call to review that day at 10:00 a.m. ET.

To register for the earnings call, please click here. Additionally, participants can join the conference call by dialing 1-800-289-0459 (passcode: 299376).

The Company will issue a press release regarding Third Quarter 2024 earnings prior to the conference call. The press release will be posted on the Bit Digital website at www.bit-digital.com.

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, visit our website at www.bit-digital.com, or follow us on LinkedIn or X.

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 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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.

Bit Digital (BTBT) – New Colocation Agreement

Posted on by cpereira@noblefcm.com


Tuesday, February 11, 2025

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.

Agreement in Place. Yesterday, Bit Digital announced it secured a colocation contract through WhiteFiber, its newly rebranded HPC business, and an unnamed client. Under the agreement, the Company will provide 5MW of built-to-suit data center infrastructure for a period of five years. The Company anticipates the contract to commence in mid-2025. No financial terms of the agreement were disclosed.

Potential Financial Impact. While no financial terms were given in the announcement, based on Enovum’s current 4MW colocation data center producing $7.2 million in revenue annually, the new agreement could generate roughly $9 million in additional revenue if the terms are similar. We expect a $5-$5.6 million impact for annualized EBITDA based on the $4-$4.5 million from the initial data center.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bit Digital, Inc. Secures New Multi-Year Colocation Agreement with a Leader in AI Hardware

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, February 10, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”) announced today that it has secured a colocation contract with a leading AI hardware innovator. The agreement will be executed through WhiteFiber, Inc. (“WhiteFiber”), the Company’s newly rebranded HPC business, which includes cloud services and its data center platform, Enovum Data Centers Corp. (“Enovum”). Under the agreement, the Company will provide the client with 5 MW (IT load) of built-to-suit data center infrastructure for a period of five years. The contract will be fulfilled at a data center within Enovum’s proprietary development pipeline, with the location to be announced at a later date. The Company anticipates the contract will formally commence in mid-2025.

Sam Tabar, CEO of Bit Digital, commented: “Bit Digital is thrilled to partner with a company at the forefront of AI innovation in North America. This agreement underscores their confidence in our ability to deliver sophisticated, high-performance colocation solutions tailored for next-generation AI workloads. We are excited to support this client’s unique computing needs with our expertly designed data center infrastructure, delivering the reliability and scalability essential for AI innovation.”

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” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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.

Bit Digital (BTBT) – January Production

Posted on by cpereira@noblefcm.com


Monday, February 10, 2025

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.

GPU Cloud Business. The Company earned approximately $4.4 million in revenue from AI contracts during the month of January 2025. Bit Digital had 268 servers (2,144 GPUs) actively generating revenue from its Bit Digital AI contracts. In addition, the Company received $131,000 in cash payments from its equipment leasing contract with Boosteroid during the month.

Colocation Services Business. Bit Digital’s HPC data center colocation revenue was approximately CAD $757.8k (approximately USD $522.9k) in January. The Company had 14 customers actively generating revenue at its Tier-3 Enovum Data Center as of month’s end. Bit Digital has rebranded its HPC business as WhiteFiber, Inc., encompassing the Company’s GPU Cloud business and its HPC data center business.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bit Digital, Inc. Announces Strategic Rebranding of its HPC Business to WhiteFiber

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, February 6, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”) announced today that it has officially rebranded its HPC business as WhiteFiber, Inc. (“WhiteFiber”). WhiteFiber encompasses the Company’s GPU Cloud business and its HPC data center business, Enovum Data Centers (“Enovum”). The new WhiteFiber website can be found at www.whitefiber.com.

Sam Tabar, CEO of Bit Digital, commented: “Rebranding our HPC business to WhiteFiber is an important step in establishing a distinct identity for this transformative venture. WhiteFiber represents the convergence of cutting-edge technology and seamless connectivity, underscoring our commitment to delivering vertically integrated HPC solutions. By combining data center colocation with GPU cloud services, we provide the high-performance infrastructure required for the most demanding AI workloads. With this rebrand, we signal to our customers, partners, and investors that we are focused on building a platform of unmatched reliability, efficiency, and innovation. Our WhiteFiber business is currently servicing more than 20 customers compared to just 1 at the start of 2024. We look forward to expanding both our customer base and existing partnerships through industry-leading performance and reliability.”

This rebranding underscores Bit Digital’s commitment to addressing the surging demand for data centers and sustainable, cutting-edge HPC and AI cloud infrastructure. WhiteFiber’s platform is engineered to support the most demanding workloads with unparalleled performance, reliability, and efficiency, empowering industries to meet the challenges of tomorrow. The Company’s bitcoin mining and ETH staking businesses will continue to operate under the Bit Digital brand.

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. 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” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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.

Bit Digital (BTBT) – Secures New HPC Contract with Anchor Customer

Posted on by cpereira@noblefcm.com


Monday, January 27, 2025

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.

New Contract. Last Friday, Bit Digital announced a new agreement with its anchor customer in the GPU Cloud portion of its HPC business. The new 464 Nvidia B200 GPUs contract replaces a prior agreement to provide 2,048 H100 GPUs. The contract represents approximately $15 million of annualized revenue and features a two-month prepayment from the customer. While the new agreement reduces annualized revenue from what the Company anticipated last year (roughly $50 million), management is exploring additional contracts with the customer, which we are hopeful, when combined, will at least rise to the originally expected contract level.

Additional Terms. Under the new agreement, Bit Digital will provide the customer with 58 B200 servers (464 GPUs) for 18 months. Furthermore, the customer may deduct 100% of the service fees from the previously paid $30 million non-refundable deposit. 


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bit Digital, Inc. Secures New B200 GPU Contract with Key Customer

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, January 24, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, today announced a new agreement with a key customer for 464 Nvidia B200 GPUs, expanding its GPU Cloud business. This new agreement replaces a prior agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs and the Company continues to explore additional GPU contracts with this customer for 2025.

Under the terms of the agreement, Bit Digital will provide the customer with 58 Nvidia B200 servers (464 GPUs) for a period of eighteen months. The contract represents approximately $15 million of annualized revenue for Bit Digital and features a two-month prepayment from the customer. However, the customer may deduct 100% of the service fees from the $30 million non-refundable deposit previously paid to the Company. The contract is scheduled to commence on June 30th, 2025, and the GPUs will be deployed in Iceland. To fulfill the contract, Bit Digital has placed an order for 58 Nvidia B200 servers for approximately $21MM which are expected to be delivered well in advance of the service commencement date. Bit Digital intends to finance the purchase with cash and customer deposits and intends to retain complete ownership of the servers.

Sam Tabar, CEO of Bit Digital, commented: “We are pleased to have reached this agreement with a key customer. This contract delivers significantly improved margins compared to the original plan, which included a sale-leaseback agreement for a portion of the deployment. We look forward to exploring additional new business with this customer for 2025 while remaining focused on execution.”

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. 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” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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.

Bit Digital (BTBT) – December Production Numbers Released

Posted on by cpereira@noblefcm.com


Friday, January 10, 2025

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.

HPC/AI Side. At year-end, Bit Digital had 266 servers actively generating revenue from its Bit Digital AI contracts and earned approximately USD $4.5 million of total unaudited GPU Cloud revenue during the month of December. In addition, $177k in revenue from the Boosteroid contract was recognized. The Company’s HPC data center colocation revenue was approximately CAD $757.8k (approximately USD $528.1k) and had 14 customers generating revenue at the Enovum Data Center facility as of December 31, 2024.

Mining. The Company produced 32.4 BTC in December, a 27.8% decrease from 44.9 BTC last month due to changes in the Company’s hosting portfolio, ongoing redeployment of mining assets to new sites, and the retirement of older generation miners. The active hash rate was roughly 1.8 EH/s, a decline from 2.51 EH/s last month due to the reasons mentioned earlier. During the month, 941 S21 miners were purchased for $3.2 million, with the Company selling 4,506 S19 mining units for approximately $836.6k. We expect the hash rate to climb back up as the Company redeploys its new and current miners to new sites.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Bit Digital, Inc. Announces Monthly Production Update for December 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, January 8, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced its unaudited digital asset production, HPC services revenue, and corporate updates for the month of December 2024.

Corporate Highlights for December 2024

  • The Company had 266 servers (2,128 GPUs) actively generating revenue from its Bit Digital AI contracts, as of December 31, 2024. The Company earned approximately $4.5 million of total unaudited GPU Cloud revenue during the month of December 2024. In addition, the Company received $177K in cash payments from its equipment leasing contract with Boosteroid during the month of December 2024.
  • Treasury holdings of BTC and ETH were 742.1 and 27,623.9 with a fair market value of approximately $69.3 million and $92.1 million, respectively, on December 31, 2024.
  • The BTC equivalent1 of our digital asset holdings as of December 31, 2024, was approximately 1,731.8 or approximately $161.8 million.
  • The Company had cash and cash equivalents of $98.6 million and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $260.4 million in December 2024.

Colocation Services Revenue Highlights

  • The Company had 14 customers actively generating revenue at its Tier-3 Enovum Data Center facility, as of December 31, 2024.
  • The Company’s HPC data center colocation revenue was approximately CAD $757.8k (approximately USD $528.1k) in December 2024.
  • On December 27, 2024, the Company acquired the real estate and building for a build-to-suit 5MW Tier 3 data center expansion project in Montreal, Canada. The Company purchased the site (“MTL2”) for CAD $33.5 million (approximately USD $23.3MM assuming a CAD/USD exchange rate of 0.70) excluding fees. This acquisition is part of the Company’s strategy to expand its HPC data center footprint to 32MW during 2025. This site also comprises part of Bit Digital’s 288MW proprietary pipeline announced earlier this year. The Company expects to spend approximately CAD $27.6 million (approx.USD $19.3MM) to develop the site to Tier-3 standards with an initial gross load of 5MW. The site is expected to be completed and operational by May 2025.

GPU Cloud Highlights

  • On December 31, 2024, Bit Digital AI entered into a Master Service Agreement and associated purchase order with a new customer, an AI Compute Fund managed by DNA Holdings Venture Inc. The purchase order provides for services utilizing a total of 576 H200 GPUs over a twenty-five (25) month period, terminable by either party upon at least 90 days’ written notice prior to any renewal date. It represents an aggregate revenue opportunity of approximately $20.2 million.

Digital Assets Highlights

  • In December 2024, the Company produced 32.4 BTC, a 27.8% decrease compared to the prior month. The decrease was primarily driven by a change in the Company’s hosting portfolio, ongoing redeployment of mining assets to new sites, and the retirement of older generation miners.
  • In December 2024, the Company’s active hash rate was approximately 1.8 EH/s, a 28% decrease compared to the prior month. The decrease was primarily driven by a change in the Company’s hosting portfolio, ongoing redeployment of mining assets to new sites, and the retirement of older generation miners.
  • The Company purchased 941 S21 mining units for approximately $3.2 million during the month of December 2024.
  • The Company sold 4,506 S19 mining units for approximately $836.6k during the month of December 2024.
  • The Company had approximately 21,568 ETH actively staked in native staking protocols as of December 31, 2024.
  • Bit Digital earned a blended APY of approximately 3.3% on its staked ETH position for the month of December 2024.
  • The Company earned aggregate staking rewards of approximately 60.6 ETH during December 2024.

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. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers infrastructure services for artificial intelligence applications. 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” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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 – Bit Digital, Inc. Completes Transition from Foreign Private Issuer Status to Domestic Filer Status

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, January 6, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced today that as of January 1, 2025, it officially transitioned to domestic issuer status under U.S. securities regulations.

The change reflects the Company’s commitment to transparency, operational growth, U.S. market expectations, and streamlines its regulatory compliance framework.

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. Our bitcoin mining 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” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“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.