Bit Digital (BTBT) – AI Revenue Has Begun

Financial Services
0 min read

Wednesday, January 24, 2024

Joe Gomes, 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.

AI Revenue. Bit Digital announced revenue from its AI contract has started, a significant milestone, in our view. The AI business diversifies the Company revenue base from the mining operations and will provide a steady source of revenue with strong margin contribution. With the anticipated growth of the AI industry, we believe there will be more such contracts to come.

Details. As of yesterday, 192 servers, representing 1,536 GPUs, began generating revenue. An additional 64 servers, representing 512 GPUs, are expected to start earning revenue by the end of January 2024. The total contract value for the 2,048 GPUs is worth more than $50 million of annualized revenue to Bit Digital.

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. 


Inbox Intel from Channelchek.

Informed investors make more money. And it’s all about timing. Get it when it happens.

By clicking submit you are agreeing to the Terms of Use and Privacy Policy
© 2018-2024 Noble Financial Group, Inc. All Rights Reserved. Channelchek is provided at no cost to be used for information purposes only and not as investment advisement.