Bit Digital Completes $45M Acquisition in North Carolina

Bit Digital ( (BTBT) ) has provided an update.

On May 20, 2025, Bit Digital‘s subsidiary, White Fiber, Inc., completed the acquisition of an industrial building in Madison, North Carolina, from Unifi Manufacturing Inc. This strategic move positions the company to attract HPC data center tenants and leverage tax incentives due to its location in a region favorable for AI workloads. The acquisition, valued at $45 million, involves a collaboration with Duke Energy to secure substantial power supply, crucial for data center operations. The agreement includes conditions for electric service agreements and potential payments to Unifi Manufacturing Inc. based on power supply achievements.

The most recent analyst rating on (BTBT) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on Bit Digital stock, see the BTBT Stock Forecast page.

Spark’s Take on BTBT Stock

According to Spark, TipRanks’ AI Analyst, BTBT is a Neutral.

Bit Digital’s overall stock score of 57 reflects a mixed financial outlook, with strengths in revenue growth and equity stability but significant challenges in profitability and liquidity. The technical analysis suggests short-term momentum, but overvaluation concerns persist due to a negative P/E ratio. While cloud services show promise, the decline in mining revenue and negative financial metrics weigh heavily on the company’s prospects.

To see Spark’s full report on BTBT stock, click here.

More about Bit Digital

Bit Digital, Inc. operates in the high-performance computing (HPC) industry, focusing on developing and managing data centers. The company is actively involved in acquiring and developing properties for data center operations, targeting regions with strategic advantages for hyperscale computing and AI workloads.

Average Trading Volume: 15,344,099

Technical Sentiment Signal: Sell

Current Market Cap: $529.8M

Find detailed analytics on BTBT stock on TipRanks’ Stock Analysis page.