Bit Digital (BTBT)
Market Price (4/5/2026): $1.37 | Market Cap: $443.6 MilSector: Financials | Industry: Diversified Capital Markets
Bit Digital (BTBT)
Market Price (4/5/2026): $1.37Market Cap: $443.6 MilSector: FinancialsIndustry: Diversified Capital Markets
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56% Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Cryptocurrency Mining. | Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -65% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -57 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -50% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 22% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -254%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -506% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% Key risksBTBT key risks include [1] its major strategic transition away from its core Bitcoin mining business to a heavy concentration in Ethereum and [2] significant execution risk in establishing sustained profitability in its new, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -56% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain. Themes include Cryptocurrency Mining. |
| Weak multi-year price returns2Y Excs Rtn is -78%, 3Y Excs Rtn is -65% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -57 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -50% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 22% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -254%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -506% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% |
| Key risksBTBT key risks include [1] its major strategic transition away from its core Bitcoin mining business to a heavy concentration in Ethereum and [2] significant execution risk in establishing sustained profitability in its new, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Broader Cryptocurrency Market Downturn and Macroeconomic Headwinds. Bit Digital's stock movement was significantly impacted by a substantial decline in the broader cryptocurrency market during Q1 2026. Bitcoin experienced its worst first quarter since 2018, falling approximately 23-24% from around $87,500 on January 1 to roughly $66,700 by March 31, shedding over $20,000 per coin. The overall crypto market capitalization decreased by about $900 billion over the quarter. This downturn was exacerbated by a Federal Reserve holding interest rates, net outflows of approximately $496.5 million from spot Bitcoin ETFs in Q1 (with $1.8 billion in outflows during January and February), and a wider equity market selloff, where the S&P 500 fell 7% and the Nasdaq 10%.
2. Significant Earnings Miss and Fiscal Year Net Loss. Bit Digital reported a substantial earnings per share (EPS) miss for its fourth quarter of fiscal year 2025, announcing an EPS of $-0.58 which was $0.56 worse than the analyst estimate of $-0.02. Although quarterly revenue of $33.41 million topped consensus estimates of $32.34 million, the company reported a net loss attributable to shareholders of $(80.3) million for fiscal year 2025, a notable swing from a net income of $28.3 million in fiscal year 2024. The company's basic EPS also moved from a profit of $0.48 in Q3 2025 to a loss of $0.58 in Q4 2025.
Show more
Stock Movement Drivers
Fundamental Drivers
The -27.5% change in BTBT stock from 12/31/2025 to 4/5/2026 was primarily driven by a -30.3% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.89 | 1.37 | -27.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 107 | 114 | 6.1% |
| P/S Multiple | 5.6 | 3.9 | -30.3% |
| Shares Outstanding (Mil) | 317 | 324 | -2.0% |
| Cumulative Contribution | -27.5% |
Market Drivers
12/31/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| BTBT | -27.5% | |
| Market (SPY) | -5.4% | 60.5% |
| Sector (XLF) | -9.6% | 34.3% |
Fundamental Drivers
The -54.3% change in BTBT stock from 9/30/2025 to 4/5/2026 was primarily driven by a -37.5% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.00 | 1.37 | -54.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 99 | 114 | 14.3% |
| P/S Multiple | 6.2 | 3.9 | -37.5% |
| Shares Outstanding (Mil) | 207 | 324 | -36.1% |
| Cumulative Contribution | -54.3% |
Market Drivers
9/30/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| BTBT | -54.3% | |
| Market (SPY) | -2.9% | 58.8% |
| Sector (XLF) | -7.7% | 36.1% |
Fundamental Drivers
The -32.2% change in BTBT stock from 3/31/2025 to 4/5/2026 was primarily driven by a -47.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.02 | 1.37 | -32.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 108 | 114 | 5.1% |
| P/S Multiple | 3.2 | 3.9 | 23.9% |
| Shares Outstanding (Mil) | 169 | 324 | -47.9% |
| Cumulative Contribution | -32.2% |
Market Drivers
3/31/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| BTBT | -32.2% | |
| Market (SPY) | 16.3% | 35.3% |
| Sector (XLF) | 0.5% | 28.5% |
Fundamental Drivers
The -11.0% change in BTBT stock from 3/31/2023 to 4/5/2026 was primarily driven by a -83.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312023 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.54 | 1.37 | -11.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 40 | 114 | 183.1% |
| P/S Multiple | 2.1 | 3.9 | 86.1% |
| Shares Outstanding (Mil) | 55 | 324 | -83.1% |
| Cumulative Contribution | -11.0% |
Market Drivers
3/31/2023 to 4/5/2026| Return | Correlation | |
|---|---|---|
| BTBT | -11.0% | |
| Market (SPY) | 63.3% | 37.3% |
| Sector (XLF) | 60.9% | 28.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BTBT Return | -72% | -90% | 605% | -31% | -35% | -27% | -94% |
| Peers Return | 31% | -85% | 410% | -3% | 66% | -8% | 48% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -4% | 75% |
Monthly Win Rates [3] | |||||||
| BTBT Win Rate | 33% | 25% | 67% | 58% | 42% | 50% | |
| Peers Win Rate | 44% | 33% | 73% | 45% | 67% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BTBT Max Drawdown | -81% | -91% | 0% | -57% | -41% | -33% | |
| Peers Max Drawdown | -31% | -87% | -4% | -47% | -43% | -15% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MARA, RIOT, CLSK, CIFR, HUT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/2/2026 (YTD)
How Low Can It Go
| Event | BTBT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -98.2% | -25.4% |
| % Gain to Breakeven | 5323.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -69.0% | -33.9% |
| % Gain to Breakeven | 222.8% | 51.3% |
| Time to Breakeven | 68 days | 148 days |
| 2018 Correction | ||
| % Loss | -97.0% | -19.8% |
| % Gain to Breakeven | 3238.3% | 24.7% |
| Time to Breakeven | 422 days | 120 days |
Compare to MARA, RIOT, CLSK, CIFR, HUT
In The Past
Bit Digital's stock fell -98.2% during the 2022 Inflation Shock from a high on 1/4/2021. A -98.2% loss requires a 5323.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Bit Digital (BTBT)
AI Analysis | Feedback
Newmont (NEM) for Bitcoin: Similar to how Newmont mines physical gold, Bit Digital 'mines' the digital currency Bitcoin.
AI Analysis | Feedback
- Bitcoin Mining: The company engages in the process of validating transactions on the Bitcoin network to earn new bitcoins.
- Treasury Management Activities: The company manages its financial assets, including any mined bitcoins, to optimize financial performance and manage risk.
AI Analysis | Feedback
Due to the nature of its business as a bitcoin mining company, Bit Digital (BTBT) does not have identifiable major customers in the traditional sense of specific companies or distinct categories of individual consumers.
Bit Digital generates revenue primarily by mining bitcoins and then selling these self-mined bitcoins into the open cryptocurrency market. The buyers of these bitcoins are various participants in the global cryptocurrency ecosystem, including individual investors, institutional investors, traders, and other entities that acquire bitcoin on exchanges. Therefore, its "customer base" is effectively the broad, decentralized market for cryptocurrencies.
AI Analysis | Feedback
- Core Scientific (CORZ)
- Bitmain
- MicroBT
- Blockstream
- Coinmint
AI Analysis | Feedback
Samir Tabar, Chief Executive Officer
Samir Tabar was appointed CEO of Bit Digital on March 31, 2023, having previously served as Chief Strategy Officer from March 31, 2021. He also holds the position of Chief Executive Officer at WhiteFiber, Inc. (Nasdaq: WYFI), Bit Digital's majority-owned AI infrastructure subsidiary. Before his tenure at Bit Digital, Mr. Tabar co-founded Fluidity, the team responsible for AirSwap, a decentralized trading platform, which was later acquired by Consensys. He previously served as Head of Capital Strategy for Bank of America Merrill Lynch in the Asia-Pacific region. Mr. Tabar began his career as a lawyer at Skadden, Arps, Slate, Meagher & Flom LLP in New York. He holds a BA and MA from Oxford University and an LL.M. from Columbia Law School.
Erke Huang, CFO, Secretary & Director
Erke Huang oversees the financial health and capital allocation for Bit Digital. He has also previously served as Interim Chief Executive Officer for the company. Mr. Huang is noted for combining engineering rigor with capital markets discipline and has operational experience across both the U.S. and Asia.
Thomas Sanfilippo, Chief Technology Officer
Thomas Sanfilippo serves as the Chief Technology Officer for Bit Digital.
Justin Zhu, Senior Vice President of Finance & Chief Accounting Officer
Justin Zhu holds the position of Senior Vice President of Finance and Chief Accounting Officer at Bit Digital.
William Cameron Schnier C.F.A., Head of Investor Relations
William Cameron Schnier C.F.A. is responsible for managing communication with the investment community as the Head of Investor Relations for Bit Digital.
AI Analysis | Feedback
The key risks to Bit Digital's business are:1. Market Volatility of Digital Assets
The value of Bit Digital's digital asset holdings and its revenue from mining and staking operations are highly susceptible to the extreme price fluctuations inherent in the cryptocurrency market, particularly for Bitcoin and Ethereum. A significant decline in the market prices of these digital assets could substantially reduce the company's revenue, the value of its treasury holdings, and overall profitability.2. Operational and Strategic Transition Risks
Bit Digital is undergoing a significant business model pivot, shifting its focus from traditional Bitcoin mining to Ethereum staking and High-Performance Computing (HPC)/AI services. This strategic transition introduces substantial execution risk. Delays or inefficiencies in winding down Bitcoin mining operations, repurposing assets, or successfully scaling the new Ethereum staking and HPC/AI segments could negatively impact the company's financial performance and operational efficiency. Furthermore, this pivot leads to a concentration risk, with the company's strategy becoming heavily dependent on the performance and success of Ethereum.3. Regulatory and Governmental Scrutiny
The cryptocurrency industry operates within a dynamic and often uncertain regulatory environment. Changes in global governmental regulations concerning digital assets, cryptocurrency mining, staking, or even AI infrastructure could impose significant operational restrictions, increase compliance costs, or negatively impact the demand for Bit Digital's services. Restrictive regulations or outright bans in key markets could severely constrain the company's ability to operate and generate profits.AI Analysis | Feedback
nullAI Analysis | Feedback
Bit Digital, Inc. primarily engages in the bitcoin mining business. The addressable market for their main service, bitcoin mining, falls under the broader cryptocurrency mining market. The global cryptocurrency mining market size was valued at approximately USD 2.77 billion in 2025 and is projected to increase to around USD 9.18 billion by 2035, growing at a compound annual growth rate (CAGR) of 12.73% from 2026 to 2035. Within this market, the Bitcoin segment is expected to account for a significant share, with one forecast indicating it will contribute to market growth with a share of 56.45% during the forecasted period. Regionally, North America represents a substantial portion of the worldwide cryptocurrency mining market, having generated the largest share. North America also held 47% of the Bitcoin Miner Market, driven by regulatory clarity and the deployment of large-scale mining farms. This region is further anticipated to grow at a CAGR of 10% in the Bitcoin mining market, supported by favorable regulations and energy resources.AI Analysis | Feedback
Bit Digital, Inc. (BTBT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives, reflecting a strategic pivot away from traditional Bitcoin mining.
- Growth in High-Performance Computing (HPC) and Cloud Services: Bit Digital has significantly shifted its focus to high-performance computing (HPC) and cloud services, which are now primary revenue pillars. This segment, including its subsidiary WhiteFiber, has seen rapid growth due to new customer contracts and the deployment of high-end GPUs for AI training and inference workloads. The company reported cloud services as its largest revenue generator in 2024 and anticipates continued expansion with new agreements.
- Expansion of Ethereum Staking Operations: The company is actively exiting Bitcoin mining and reallocating capital towards an Ethereum-native treasury and staking model. Bit Digital aims to build a large institutional Ethereum balance sheet, generating scalable and more stable staking yields. This strategic shift positions Ethereum staking as a significant and recurring revenue stream.
- Data Center Infrastructure Expansion: Bit Digital is aggressively expanding its data center footprint to support its growing HPC and colocation services. New data center facilities, such as those in North Carolina and Montreal, Canada, are expected to become operational and begin generating revenue in the coming years, significantly increasing capacity.
- Deployment of Advanced GPU Technology: The acquisition and deployment of high-end GPUs, including NVIDIA B200 and H200 models, are crucial for supporting high-margin AI training and inference workloads within its cloud services. These advanced GPUs are expected to generate substantial annualized recurring revenue (ARR) as they come online and are fully utilized.
AI Analysis | Feedback
Share Issuance
- Bit Digital's shares outstanding significantly increased from approximately 54.67 million in 2021 to 317.30 million in 2025, indicating substantial share issuance.
- The number of outstanding shares increased by 111.98% in 2025, 68.21% in 2024, and 62.76% in 2023.
- Shareholders have been substantially diluted in the past year.
Capital Expenditures
- In fiscal year 2024, Bit Digital invested $94.0 million in capital expenditures, an increase of 41.0% from the prior year, primarily for funding long-term assets and infrastructure.
- In the last 12 months (as of March 2026), capital expenditures were -$250.85 million.
- Heavy capital investment in fiscal year 2024 resulted in negative free cash flow, reflecting a focus on business expansion.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Bit Digital Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 | |
| ARTICLES | ||
| Why Bit Digital Stock Is Surging | 07/08/2025 |
| Title | |
|---|---|
| DASHBOARDS | |
| Bit Digital Earnings Notes | |
| null | |
| ARTICLES | |
| Why Bit Digital Stock Is Surging |
Trade Ideas
Select ideas related to BTBT.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 3.1% | 3.1% | 0.0% |
| 03202026 | MKTX | MarketAxess | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -5.2% | -5.2% | -5.7% |
| 03202026 | RYAN | Ryan Specialty | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -2.7% | -2.7% | -8.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.79 |
| Mkt Cap | 3.8 |
| Rev LTM | 436 |
| Op Inc LTM | -327 |
| FCF LTM | -916 |
| FCF 3Y Avg | -621 |
| CFO LTM | -396 |
| CFO 3Y Avg | -197 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 43.1% |
| Rev Chg 3Y Avg | 101.7% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | -71.8% |
| Op Mgn 3Y Avg | -70.4% |
| QoQ Delta Op Mgn LTM | -14.9% |
| CFO/Rev LTM | -90.7% |
| CFO/Rev 3Y Avg | -81.5% |
| FCF/Rev LTM | -244.8% |
| FCF/Rev 3Y Avg | -234.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.8 |
| P/S | 5.4 |
| P/EBIT | -6.7 |
| P/E | -6.5 |
| P/CFO | -6.4 |
| Total Yield | -15.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -24.3% |
| D/E | 0.4 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.3% |
| 3M Rtn | -17.0% |
| 6M Rtn | -39.3% |
| 12M Rtn | 50.3% |
| 3Y Rtn | 150.5% |
| 1M Excs Rtn | -14.7% |
| 3M Excs Rtn | -4.8% |
| 6M Excs Rtn | -33.9% |
| 12M Excs Rtn | 26.7% |
| 3Y Excs Rtn | 89.1% |
Price Behavior
| Market Price | $1.37 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 03/20/2018 | |
| Distance from 52W High | -67.5% | |
| 50 Days | 200 Days | |
| DMA Price | $1.71 | $2.57 |
| DMA Trend | down | down |
| Distance from DMA | -19.9% | -46.7% |
| 3M | 1YR | |
| Volatility | 82.5% | 93.5% |
| Downside Capture | 2.46 | 2.65 |
| Upside Capture | 327.62 | 284.68 |
| Correlation (SPY) | 58.2% | 33.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.67 | 4.43 | 3.95 | 4.01 | 1.73 | 2.52 |
| Up Beta | -0.17 | 8.37 | 5.94 | 5.01 | 0.90 | 1.57 |
| Down Beta | 2.43 | 2.89 | 3.16 | 3.21 | 1.29 | 2.07 |
| Up Capture | 667% | 487% | 463% | 483% | 621% | 22194% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 7 | 15 | 23 | 51 | 113 | 345 |
| Down Capture | 337% | 342% | 303% | 266% | 171% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 15 | 27 | 38 | 73 | 128 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBT | |
|---|---|---|---|---|
| BTBT | -51.8% | 87.7% | -0.45 | - |
| Sector ETF (XLF) | 0.6% | 19.2% | -0.09 | 32.4% |
| Equity (SPY) | 16.1% | 19.0% | 0.67 | 39.3% |
| Gold (GLD) | 50.5% | 28.0% | 1.46 | 13.1% |
| Commodities (DBC) | 16.2% | 17.7% | 0.77 | 21.2% |
| Real Estate (VNQ) | 3.6% | 16.5% | 0.04 | 24.0% |
| Bitcoin (BTCUSD) | -21.5% | 44.0% | -0.42 | 58.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBT | |
|---|---|---|---|---|
| BTBT | -40.2% | 117.5% | 0.06 | - |
| Sector ETF (XLF) | 9.4% | 18.7% | 0.39 | 29.2% |
| Equity (SPY) | 11.6% | 17.0% | 0.53 | 37.9% |
| Gold (GLD) | 21.7% | 17.8% | 1.00 | 6.9% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 6.9% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 24.3% |
| Bitcoin (BTCUSD) | 3.9% | 56.5% | 0.29 | 52.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BTBT | |
|---|---|---|---|---|
| BTBT | -13.9% | 134.4% | 0.44 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 18.9% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 25.9% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 4.2% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 7.3% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 16.2% |
| Bitcoin (BTCUSD) | 66.2% | 66.8% | 1.06 | 32.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/31/2026 | 5.3% | ||
| 11/14/2025 | -4.4% | -18.7% | -16.7% |
| 3/14/2025 | 7.5% | 5.7% | -18.5% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 0 |
| # Negative | 1 | 1 | 2 |
| Median Positive | 6.4% | 5.7% | |
| Median Negative | -4.4% | -18.7% | -17.6% |
| Max Positive | 7.5% | 5.7% | |
| Max Negative | -4.4% | -18.7% | -18.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/27/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/18/2024 | 6-K |
| 06/30/2024 | 08/19/2024 | 6-K |
| 03/31/2024 | 05/15/2024 | 6-K |
| 12/31/2023 | 03/18/2024 | 20-F |
| 09/30/2023 | 11/14/2023 | 6-K |
| 06/30/2023 | 08/15/2023 | 6-K |
| 03/31/2023 | 06/12/2023 | 6-K |
| 12/31/2022 | 04/28/2023 | 20-F |
| 09/30/2022 | 12/07/2022 | 6-K |
| 06/30/2022 | 08/30/2022 | 6-K |
| 03/31/2022 | 06/22/2022 | 6-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Huang, Erke | Chief Financial Officer | Direct | Sell | 11242025 | 2.01 | 410,636 | 825,378 | 2,361,750 | Form |
| 2 | Huang, Erke | Chief Financial Officer | Direct | Sell | 11242025 | 2.18 | 1,089,364 | 2,374,814 | 3,456,686 | Form |
| 3 | Pierce, Brock Jeffrey | Direct | Buy | 6272025 | 2.00 | 500,000 | 1,000,000 | 1,000,000 | Form | |
| 4 | Tabar, Samir | Chief Executive Officer | Direct | Buy | 6262025 | 2.00 | 750,000 | 1,500,000 | 4,216,178 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.