Bit Digital anchor HPC client delay a ‘temporary setback,’ says Noble Capital

Noble Capital analyst Joe Gomes notes that Bit Digital’s (BTBT) anchor HPC client is temporarily delaying its purchase order to potentially upgrade the servers to have newer generation Nvidia (NVDA) GPUs, but believes the delay to “only be temporary” as Nvidia’s new Blackwell architecture is expected to be released later in the year or in early 2025. The firm, which also notes that Bit Digital entered into a master service agreement with Boosteroid, a cloud gaming provider, and believes the agreement “provides a positive scalable addition to the company’s HPC business,” keeps an Outperform rating and $5.50 price target on Bit Digital shares.