Bit Digital (BTBT) Stock Analysis & Winston Score

Bit Digital is a company that mines cryptocurrency, mainly Bitcoin and Ethereum, using large warehouses full of specialized computers. These computers solve complex math problems to earn new coins, which the company then holds or sells. Bit Digital also offers cloud computing services, renting out computing power to businesses that need it for tasks like artificial intelligence.

The company earns money by selling the cryptocurrency it mines and by charging fees for its cloud computing services. Bit Digital operates mining facilities across the United States, Canada, and Iceland, and has a market cap of roughly $0.7 billion. Its main competitive edge is its focus on using cleaner, renewable energy sources for mining, which lowers costs and reduces regulatory risk. The biggest risk the company faces is the price of Bitcoin itself — when crypto prices fall sharply, revenue and profits can drop just as fast, making earnings highly unpredictable.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-60.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-390.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

1.8%ownership

Relatively low insider ownership

Cash Runway

~2 months

$122M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Bit Digital has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

19.5%

Thin — 19.5% gross margin

Operating Margin

-42.1%

Losing money on operations — -42.1%

ROCE

-1.6%

Weak — -1.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-31.0%

Shrinking sales (-31.0% YoY)

EPS YoY

-220.0%

Earnings shrinking (-220.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-508.2%

Burning cash (-508.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.18

Conservative — low debt load (0.18)

Interest Cover

28.30x

Comfortably covers interest (28.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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