Bit DigitalNASDAQ: BTBT

Bit Digital, Inc. (BTBT) closed at $3.33 in the latest trading session, marking a -1.91% move from the prior day.

Bit Digital Inc (NASDAQ:BTBT) shares surged more than 37% after the digital assets and AI infrastructure firm announced it has finalized a contract expansion with a major high performance computing (HPC) customer bringing the total contract value to $275 million. The company said under the expanded agreement it will supply the existing customer with an additional 2,048 GPUs over three years.

Bit Digital (BTBT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Zacks.com users have recently been watching Bit Digital (BTBT) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Bit Digital Inc (NASDAQ:BTBT) told investors that during May it had 256 servers actively generating revenue from its Bit Digital AI Contract, which earned an estimated $4.2 million in unaudited revenue for the month. During May, the Bitcoin miner said it produced 63.3 Bitcoin.

NEW YORK , June 5, 2024 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of May 2024. Corporate Highlights for May 2024 The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of May 31, 2024.

2024 has had its ups and downs for the world's bitcoin miners. For anyone even partially up to date on the bitcoin news cycle, the ups won't come as a surprise.

Bit Digital Inc (NASDAQ:BTBT) saw a surge in revenue for the first quarter driven by a rising Bitcoin price and its new high performance computing (HPC) services business. Revenue jumped 266% from the year-ago quarter to $30.3 million, including a 166% increase in Bitcoin mining revenue to $21.9 million and $8.1 million in revenue from its HPC business.