Craig-Hallum Starts Bit Digital Inc. (BTBT) at Buy

Craig-Hallum analyst George Sutton initiates coverage on Bit Digital Inc. (NASDAQ: BTBT) with a Buy rating and a price target of $6.00.

The analyst comments "Following the acquisition of Enovum Datacenters and expansion into GPUaaS, we believe Bit Digital is in the early innings of a business and financial overhaul that will lead to a more predictable cash flowing company. With a broad set of opportunities ahead for the now vertically integrated AI/HPC player, we believe the market has yet to realize the many potential catalysts and value of the underlying businesses. Given the recent strategic shift, acquired assets, and strong management team, Bit Digital remains an underappreciated way to play our broader AI Infrastructure investment opportunity."

For an analyst ratings summary and ratings history on Bit Digital Inc. click here. For more ratings news on Bit Digital Inc. click here.

Shares of Bit Digital Inc. closed at $3.68 yesterday.

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