$BTBT Earnings: Revenue Up 10.9%, But Losses Deepen
Bit Digital $BTBT posted 10.9% revenue growth for the quarter reported on May 15, 2026, but EPS swung sharply deeper into loss territory. ACCE score sits at 34/100.
Correction, 18 September 2026: an earlier version of this post described May 15, 2026 as the end of the quarter. It is the date the results were reported.
What changed
$BTBT (Bit Digital Inc.) reported results on May 15, 2026. Revenue grew 10.9% year over year, a positive headline number for a company operating in the volatile crypto-infrastructure space. But the bottom line moved in the wrong direction: EPS came in at -$0.45, compared to -$0.05 in the same period a year earlier. That is a significant widening of losses, not a rounding error.
The trailing P/E carries no meaningful value here given the negative earnings picture. The forward P/E stands at 23.9, which implies the market is pricing in a path to profitability, but the current numbers do not yet support that story. Net margin sits at -147.5% and ROE at -34.6%, both flagged in our model as concerning on earnings quality. The stock trades at $1.44 as of August 12, 2026, against an analyst consensus target of $4.13.
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What it means
$BTBT's ACCE score is 34 out of 100. Breaking that down: Quality scores 43, Growth 40, Value 34, and Momentum 17. The Momentum reading of 17 reflects a brutal 12-month stretch — the stock is down 52.5% over the past year. That kind of price action tends to compound itself, and the low Momentum score captures exactly that.
The 10.9% revenue growth is real and worth noting. For a company in digital asset infrastructure, maintaining top-line expansion while the broader crypto cycle churns is not trivial. The problem is that revenue growth is not yet translating into cost discipline. A net margin of -147.5% means $BTBT is spending far more than it earns, and the EPS deterioration from -$0.05 to -$0.45 in a single year shows that gap is widening, not closing.
We do not have guidance commentary from management to assess whether the company expects the cost structure to improve. Without that context, the 10.9% revenue growth is a data point, not a thesis.
The market cap stands at $471M against a stock price of $1.44. Investors weighing the analyst target of $4.13 against the current price should set that alongside the earnings quality flags our model has raised. A target price means little if the underlying fundamentals continue to deteriorate.
For the full score breakdown and live price, visit acceinvestments.com/stocks/BTBT.
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