Bit Digital Stock (NASDAQ:BTBT), Trade Ideas

Bit Digital

Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries.. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. It generates revenue from digital asset mining and ETH staking business.

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U.S. stock futures were lower this morning, with the Dow futures falling by over 100 points on Tuesday.

PVH Posts Q4 Results, Joins Humana, CVS Health And Other Big Stocks Moving Lower In Tuesday&#39;s Pre-Market Session

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U.S. stock futures were higher this morning, with the Dow futures gaining by over 100 points on Monday.

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Bit Digital has received a proposal from an existing customer for Bit Digital AI to significantly expand the scope of its existing agreement by an additional 2,048 GPUs. The proposal would bring total GPUs under the agreement up to 4,096.

Bitcoin Mining Stock Bit Digital Is Moving Higher: What&#39;s Going On?

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Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

WNBA star Brittney Griner is sharing her story for the first time about spending 10 months in a Russian prison in a special edition of 20/20.
In a clip of the emotional interview, Griner shared her experience of having been <a href="https://www.benzinga.com/markets/cannabis/22/03/26007231/breaking-russia-detains-wnba-all-star-brittney-griner-for-alleged-possession-of-hash-oil">arrested and incarcerated</a> after a small amount of cannabis oil was found in her suitcase at a Moscow airport. At the time, Feb. 17, 2022 — just one week before Russia invaded Ukraine — Griner was heading back to Russia where she played for seven years during the off-season from her U.S. team, a center for the Phoenix Mercury.
"I was just so scared for everything because there&#8217;s so much unknown," Griner <a href="https://abcnews.go.com/US/wnba-star-brittney-griner-opens-harrowing-russian-detention/story?id=109495984">told</a> ABC's&nbsp;Robin Roberts,&nbsp;co-anchor of&nbsp;Good Morning America.
Roberts asked Griner what was going on in her mind when she realized that the cannabis cartridges were found in her luggage. Griner, a medical marijuana patient in the U.S., said she realized immediately that her mistake could have devastating consequences.
"My life is over right here," Griner answered. 
Griner admitted that the conditions were so terrible that she had thoughts of ending her life. "The mattress had a huge blood stain on it. I had no soap, no toilet paper. That was the moment where I just felt less than a human," she told Roberts. "I just didn&#8217;t think I could get through what I needed to get through.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="1st look at Brittney Griner&#039;s interview" width="500" height="281" src="https://www.youtube.com/embed/ovmtrgsjwYA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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When Griner <a href="https://www.benzinga.com/markets/cannabis/22/07/27987966/breaking-brittney-griner-pleads-guilty-biden-lashes-out-over-her-detention-russia-calls-it-hype-">pleaded guilty to drug charges</a> in July 2022, she told a judge in Moscow that she accidentally packed the vape cartridges in her luggage and did not intentionally break Russian law. 
Sentenced to <a href="https://www.benzinga.com/markets/cannabis/22/08/28355539/closing-remarks-in-brittney-griner-case-verdict-and-sentencing-expected-soon">nine years in prison</a> in August, Griner was released on Dec. 8 in a prisoner swap for Russian arms dealer&nbsp;Viktor Bout. But not before being moved to a <a href="https://www.benzinga.com/markets/cannabis/22/11/29642858/brittney-griner-being-moved-to-russian-penal-colony-her-lawyers-dont-yet-know-exact-location">notorious penal colony</a>.
In addition to the exclusive interview, Griner&#8217;s <a href="https://www.benzinga.com/markets/cannabis/23/12/36147628/brittney-griner-will-exclusively-share-her-story-across-multiple-platforms-via-espn-disney-partn">story is the subject of an ESPN documentary</a> and a potential scripted series with ABC detailing her experience.
Photo: Courtesy of ESPN press room

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Brittney Griner Talks For The First Time About Her Russian Detention In Exclusive '20/20' Special

For the first time in more than 130 years, voters will likely choose between two candidates with presidential experience for the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Here's a look at who voters in swing states currently favor in a 2020 election rematch of Donald Trump and Joe Biden.
What Happened: A close race is expected between Biden and Trump in the 2024 election based on election polls <a href="https://www.benzinga.com/general/sports-betting/24/04/38417836/trump-and-biden-get-ready-2024-election-betting-odds-point-to-major-showdown">and betting odds.</a>
Key demographics like young voters and old voters could play an important role in the election, along with <a href="https://www.benzinga.com/topic/swing-states">key swing states.</a>
A new poll of voters in swing states shows Biden gaining ground over Trump, who has led the way in these key states in recent months.
Here are the results of the recent swing state <a href="https://pro.morningconsult.com/analysis/swing-state-polling-april-2024">poll </a>from Morning Consult for the month of April, with the results from March in parentheses.
Arizona: 49% Trump (48%), 42% Biden (43%)
Georgia: 49% Trump (49%), 43% Biden (42%)
Michigan: 47% Biden (45%), 45% Trump (45%)
Nevada: 51% Trump (46%), 43% Biden (44%)
North Carolina: 51% Trump (49%), 41% Biden (43%)
Pennsylvania: 47% Trump (45%), 46% Biden (45%)
Wisconsin: 48% Trump (45%), 44% Biden (46%)
Related Link: <a href="https://www.benzinga.com/general/politics/24/04/38358680/can-biden-or-trump-build-ikea-furniture-2024-election-polls-may-have-gone-too-far">Can Biden Or Trump Build IKEA Furniture? 2024 Election Polls May Have Gone Too Far</a>
Why It's Important: The new poll shows Trump gaining support in Arizona, Nevada, North Carolina, Pennsylvania and Wisconsin. Trump has some of his biggest leads in Arizona, Nevada and North Carolina since polling began in October 2023 for the swing states.
Biden gained support in Georgia, Michigan and Pennsylvania, but lost support in several states. The key win for the current president is taking a lead in Michigan for the first time since polling began in October.
The new poll also showed Biden gaining voter trust on several items including Medicare and Social Security.
The <a href="https://www.benzinga.com/general/politics/24/03/37884006/trump-vs-biden-key-swing-states-arizona-nevada-michigan-wisconsin-show-close-races-heres-the-rol">seven swing states </a>together represent 93 electoral votes in the 2024 election. Six of the seven swing states were won by Biden in the 2020 election, with Trump winning North Carolina. Five of the seven swing states won by Biden in 2020 flipped from Trump to Biden in the election, including Arizona, Michigan and Wisconsin.
Read Next: <a href="https://www.benzinga.com/general/politics/24/04/38366379/trump-committed-conspiracy-to-undermine-the-integrity-of-a-presidential-election-prosecution-all">Trump Committed &#8216;Conspiracy To Undermine The Integrity Of A Presidential Election,&#8217; Prosecution Alleges In Hush Money Trial</a>
Photo: Shutterstock

Trump Vs. Biden: Former President Dominates Swing States, But Loses One For First Time In New 2024 Election Poll

If you're the parent of a child under 12 and have streaming platform Disney+, there's a good chance you've watched Australian <a href="https://www.benzinga.com/general/entertainment/23/12/36400565/is-disneys-percy-jackson-reboot-a-streaming-sensation-the-impact-of-new-shows-and-blueys-tr">animated hit &#8220;Bluey.</a>&#8220;
The show is turning in big numbers for Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), but the company also hinted at the show ending or having less content going forward.
What Happened: Streaming platform Disney+, part of the Walt Disney Company, has one of the<a href="https://www.benzinga.com/general/entertainment/24/04/38024244/appletv-a-streaming-winner-new-survey-shows-platform-has-smallest-library-highest-rated-con"> largest content libraries</a> of family-based content, which is a draw to getting adults with children to subscribe to the platform.
Among the hit shows on Disney+ is the Australian show "Bluey," with Disney having the rights in the U.S. The show has drawn praise from kids and from parents, thanks to its relatable storylines.
On April 14, Disney+ aired the episode "The Sign" from the third season of the show. At 28 minutes, the episode was around three times longer than most episodes.
The episode had 10.4 million views globally in its first week on Disney+, <a href="https://www.hollywoodreporter.com/tv/tv-news/bluey-the-sign-ratings-disney-plus-1235879242/">according </a>to The Hollywood Reporter. This ranked as the most-watched episode in the show's history and had the biggest viewership for a Disney Junior show on Disney+.
This episode and its predecessor "Ghostbasket" left fans asking questions about the future as the Heeler family featured on "Bluey" dealt with a potential sale of their home and a move to another city.
Fans were treated to a surprise with the season 3 finale episode appropriately titled, "Surprise."
The episode included a flash forward to main character Bluey as an adult and with a child —&nbsp;leaving more questions about if the show is ending, as many voiced on social media that it felt more like a series finale than a season finale.
Related Link:<a href="https://www.benzinga.com/news/earnings/24/02/36993564/disney-invests-1-5b-in-fortnite-owner-epic-games-in-biggest-ever-gaming-entry-posts-q1-earnings-bea"> Disney Invests $1.5B In Fortnite Owner Epic Games In &#8216;Biggest Ever&#8217; Gaming Entry, Posts Q1 Earnings Beat, Revenue Miss</a>
What's Next: Show creator Joe Brumm told The Hollywood Reporter in 2023 that the BBC, which originally commissioned the show alongside Australia's ABC, to not talk about the kids' voices or the future of the show.&nbsp;
Brumm has also said he's taking a break after the third season, which added to the speculation about the show's future.&nbsp;
A producer of "Bluey" recently confirmed to <a href="https://www.bbc.com/news/entertainment-arts-68795941">BBC </a>that the show will return in the future. Another producer also said it would be a "dream" to make a movie based on Bluey and her family in the future.
"Bluey" debuted on the streaming platform in 2020, becoming one of the most-watched shows in the U.S. on streaming platforms. Data from Nielsen showed the series had an average of 1.19 billion minutes viewed per week across a three-season library of 150 episodes.
The children's show is the most streamed show in the U.S. in 2024 based on viewing time tracked by Nielsen. The show ranked second in 2023 and sixth in 2022.
The show has been a huge hit for Disney and a gap between seasons or an end to the show could eliminate one of the key pieces of content.&nbsp;
In a highly competitive streaming market, platforms need shows like "Bluey" that aren't available other places and are must-watch content for at least one age demographic.
With its appeal to kids and parents alike, "Bluey" hits multiple demographics.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/03/37701205/taylor-swift-concert-film-hits-streaming-heres-how-to-watch-the-eras-tour-taylors-version">Taylor Swift Concert Film Hits Streaming: Here&#8217;s How To Watch &#8216;The Eras Tour (Taylor&#8217;s Version)&#8217;</a>
Photo: Courtesy Disney+ UK

Bluey Dominates Ratings For Disney+: Kids, Parents Hoping Hit Show Not Over

<h1 class="wp-block-heading">Top Stories for April 24, 2024:</h1>
<ol>
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) updated <a href="https://www.benzinga.com/news/24/04/38404516/american-battery-technology-company-publishes-updated-initial-assessment-and-economic-analysis-for-t">its initial assessment</a> for the Tonopah Flats Lithium Project (TFLP).</li>
</ol>
It refined the project&#8217;s scope to use only measured and indicated mineral resources, excluding the more speculative inferred resources.&nbsp;
This strategy improves the project's economics by enhancing access to higher-quality resources and optimizing processing at its newly built demonstration facility. 
Key updates include a 7% reduction in total processed claystone, an 8% increase in lithium grade, a 7% decrease in production costs and a 6% rise in the project&#8217;s net present value to $4.67 billion.
<ol start="2">
<li>Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported first-quarter results, with net sales of $4.7 billion and net income of $584 million. </li>
</ol>
Highlights include 3.3 million tons of steel shipments, operating income of $751 million and adjusted EBITDA of $879 million.&nbsp;
The company&#8217;s financial health was further supported by liquidity of $3.1 billion and shareholder returns through $298 million in stock repurchases and an 8% dividend increase.&nbsp;
Demand was solid across sectors, particularly automotive and construction, driving sequential improvements in earnings and operational performance.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
<ol start="3">
<li>Gold Royalty Corp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund that allows both parties to co-invest in precious metals royalties and streams. </li>
</ol>
The agreement focuses on assets valued at $30 million or more and provides a framework for identifying and evaluating co-investment opportunities, with the option for each party to invest 25% to 50% in selected transactions.&nbsp;
Additionally, any future sales of interests acquired through this partnership will offer first rights to the other partner.
<ol start="4">
<li>Coeur Mining Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) released its 2023 ESG Report, emphasizing its progress in environmental, social and governance efforts aligned with shareholder value. </li>
</ol>
The report highlights Coeur&#8217;s achievement of the lowest injury rate among peers at 0.46 and its adoption of the Global Industry Standard on Tailings Management (placing it among the top 17% of non-International Council on Mining and Metals companies).
The company also shared its commitment to biodiversity through the Biodiversity Management Standard and advancements in climate resilience, aiming for a 35% reduction in GHG emissions by the end of 2024.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38405991/equinox-gold-snaps-up-greenstone-gold-mines-for-995m-in-incredibly-rare-deal">Equinox Gold Snaps Up Greenstone Gold Mines For $995 Million In &#8216;Incredibly Rare&#8217; Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Jose Luis Stephens via Shutterstock.

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ABAT

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American Battery Optimizes Lithium Project; Steel Dynamics Reports Q1 Results; Gold Royalty Teams Up With Taurus Mining And More: Wednesday's Top Mining Stories

Helix Energy Solns Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.02 by 250 percent. The company reported quarterly sales of $296.211 million which missed the analyst consensus estimate of $296.725 million by 0.17 percent. This is a 18.44 percent increase over sales of $250.084 million the same period last year.

Earnings

Earnings Misses

Helix Energy Solns Gr Q1 2024 Adj EPS $(0.03) Misses $0.02 Estimate, Sales $296.211M Miss $296.725M Estimate

National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.76 by 7.89 percent. This is a 22.64 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $101.724 million which missed the analyst consensus estimate of $103.683 million by 1.89 percent. This is a 7.15 percent decrease over sales of $109.554 million the same period last year.

Earnings Beats

NBHC

National Bank Holdings Q1 2024 GAAP EPS $0.82 Beats $0.76 Estimate, Sales $101.724M Miss $103.683M Estimate

In June 2022, New York Gov. Kathy Hochul announced a deal had finally been reached to <a href="https://www.benzinga.com/markets/cannabis/22/01/24932856/new-york-gov-kathy-hochul-pledges-200m-to-boost-social-equity-efforts-as-part-of-cannabis-legali">fund a $200 million public-private effort</a>, which would finance cannabis dispensaries run by the people who have been the most impacted by the war on drugs.
The much-anticipated public-private fund is now coming under scrutiny following an <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">investigation</a> by THE CITY&#8217;s Rosalind Adams, which uncovered a "lopsided deal" favoring the private equity firm Chicago Atlantic Group and raising concerns about the state's social equity goals. 
The agreement heavily favors Chicago Atlantic, leaving the state exposed to significant risks, noted the outlet.
Even the New York Office of Cannabis Management (OCM) cast doubts on the fund&#8217;s viability according to internal OCM documents that questioned whether the deal had overstated the potential revenue and profit potential.
<h1 class="wp-block-heading">What Happened</h1>
New York state, unable to secure a private equity partner, agreed to a $50 million loan from Chicago Atlantic at a 15% interest rate, with all risk borne by the state.
Critics, including Reinvent Albany, an organization that advocates for government transparency and accountability, deemed the deal to have been detrimental to the state and prospective dispensary owners. Legal experts and consultants likened it to distressed debt lending.
Despite the skepticism and advice against the arrangement, negotiations ultimately led to a secret agreement benefiting Chicago Atlantic.
Previously, THE CITY revealed how cannabis licensees who accept loans from the social equity fund are burdened with high construction costs that they don't control and with interest rates that exceed the state's initial estimates.
"Everyone is worried about defaulting because of the rules and regulations of this loan," said Roland Conner, who runs <a href="https://www.benzinga.com/markets/cannabis/23/01/30496199/ny-gov-hochul-announces-opening-of-first-cannabis-shop-owned-by-person-impacted-by-war-on-drugs">Smacked on Bleecker Street</a> in Greenwich Village, the first legal dispensary owned by a person affected by the drug war.
<h1 class="wp-block-heading">Who's Responsible?</h1>
Details of the deal are still secret, with New York state authorities denying Freedom of Information Law requests. The state comptroller&#8217;s office and key lawmakers say they were not informed or involved in the making of the deal, exposing a shocking lack of oversight.
Meanwhile, Chicago Atlantic secured favorable terms, including leasing rights and a $100 million commitment for property development, raising yet more concerns about profiteering at the expense of marginalized communities.
<h1 class="wp-block-heading">Corruption Or Ineptitude?</h1>
The handling of New York&#8217;s cannabis program seems to reflect a corrosive mix of both ineptitude and potential corruption. While officials may have sought to support marginalized groups, their actions suggest a lack of due diligence and transparency.
One element of the story, which you can read in full <a href="https://www.thecity.nyc/2024/04/24/cannabis-fund-social-equity-dispensary/">here</a>, is that social equity applicants are furious.
A Queens shop owner, Dalessio, who was awarded a retail license designated for people impacted by past drug convictions told THE CITY that after a year of back and forth with the fund, he walked away from the deal.
"It just left such a bad taste in my mouth. I warned everyone I could to stay away from this deal," he said.
Photo: Courtesy of Branding Pot via Shutterstock

Government

Legal

Cannabis Saga In The Empire State: Corruption Or Ineptitude? Private Equity Tramples Social Equity, Report Reveals

Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) reported quarterly Adj earnings of $0.13 per share which met the analyst consensus estimate. The company reported quarterly sales of $277.600 million which beat the analyst consensus estimate of $272.000 million by 2.06 percent. This is a 10.38 percent increase over sales of $251.500 million the same period last year.

Alamos Gold Q1 Adj EPS $0.13, Inline, Sales $277.600M Beat $272.000M Estimate

Piper Sandler analyst Clarke Jeffries maintains Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) with a Overweight and maintains $520 price target.

Price Target

Analyst Ratings

Piper Sandler Maintains Overweight on Tyler Technologies, Maintains $520 Price Target

Rogers, who will continue to serve as a director of Mativ and will assume the role of Audit Committee Chair.

Management

MATV

Mativ Holdings Appoints Kimberly Ritrievi As Chair Of Board, Succeeding John Rogers

First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.59 by 10.17 percent. This is a 24.42 percent decrease over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $57.341 million which missed the analyst consensus estimate of $59.927 million by 4.32 percent. This is a 11.68 percent decrease over sales of $64.926 million the same period last year.

FBMS

First Bancshares Q1 2024 Adj EPS $0.65 Beats $0.59 Estimate, Sales $57.341M Miss $59.927M Estimate

Guidance

Veris Residential Raises FY24 Core FFO Per Share Outlook From $0.48-$0.53 To $0.50-$0.54, Est $0.53

Colony Bankcorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBAN#NASDAQ">CBAN</a>) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.31 by 6.45 percent. This is a 6.45 percent increase over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $28.141 million which beat the analyst consensus estimate of $27.600 million by 1.96 percent. This is a 0.30 percent decrease over sales of $28.227 million the same period last year.

CBAN

Colony Bankcorp Q1 2024 Adj EPS $0.33 Beats $0.31 Estimate, Sales $28.141M Beat $27.600M Estimate

Needham analyst Mike Matson maintains Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Buy and raises the price target from $71 to $82.

Needham Maintains Buy on Boston Scientific, Raises Price Target to $82

CVB Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVBF#NASDAQ">CVBF</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.34 by 2.94 percent. This is a 16.67 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $126.574 million which beat the analyst consensus estimate of $116.576 million by 8.58 percent. This is a 8.89 percent decrease over sales of $138.930 million the same period last year.

CVBF

CVB Financial Q1 2024 GAAP EPS $0.35 Beats $0.34 Estimate, Sales $126.574M Beat $116.576M Estimate

Bridgewater Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>) reported quarterly earnings of $0.24 per share which missed the analyst consensus estimate of $0.25 by 4 percent. This is a 35.14 percent decrease over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $26.181 million which missed the analyst consensus estimate of $27.033 million by 3.15 percent. This is a 13.50 percent decrease over sales of $30.267 million the same period last year.

Bridgewater Bancshares Q1 2024 GAAP EPS $0.24 Misses $0.25 Estimate, Sales $26.181M Miss $27.033M Estimate

U.S. President Joe Biden&#8216;s recent signing of legislation has thrown ByteDance&#8217;s TikTok into the spotlight, with CEO Shou Zi Chew saying <a href="https://www.benzinga.com/news/24/03/38001945/amid-us-china-tussle-tiktok-content-creators-worry-about-bread-and-butter-if-app-ban-succeeds">the platform will fight back.</a>
&#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; the CEO said in a two-minute&nbsp;<a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a>&nbsp;posted to TikTok&#8217;s main corporate account.
See Also: <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">Analyst Predicts TikTok Shutdown In US By Next Year Ahead Of Senate Vote: &#8216;Will Not Operate Here&#8230;&#8217;</a>
Chew&#8217;s statement, delivered Wednesday, April 24, continued: &#8220;Politicians may say otherwise. But don't get confused. Many who sponsored the bill admit a TikTok ban is their ultimate goal.&#8221;
The legislation, part of a $95 million foreign aid package supporting Israel and Ukraine, was widely supported by the U.S. Senate and the House of Representatives.
It gives ByteDance, TikTok&#8217;s parent company, 270 days to find new owners. If ByteDance fails to comply, TikTok faces removal from Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google app stores in the U.S., People magazine <a href="https://people.com/tiktok-ceo-says-we-arent-going-anywhere-biden-signs-potential-ban-into-law-8638226">reported. </a>
Additionally, there&#8217;s a provision for a three-month extension if a sale is in progress by the initial deadline.
<h1 class="wp-block-heading">ByteDance&#8217;s TikTok Fights Back Against Ban</h1>
TikTok&#8217;s uncertain future stems from discussions that began during the COVID-19 pandemic. Former President Donald Trump initially proposed banning the app in April 2020, a move later paused by the Biden administration in February 2021. Currently, TikTok boasts 170 million American users.
The legislation presents concerns about security, with fears that TikTok could be used for Chinese surveillance or data access. TikTok denies these allegations, and the Chinese government asserts there&#8217;s no evidence supporting claims of national security threats. 
TikTok plans to challenge the legislation, citing freedom of speech. In his video, Chew expressed confidence in their legal fight: &#8220;Rest assured, we aren&#8217;t going anywhere.&#8221; 
&#8220;We are confident and we will keep fighting for your rights in the courts&#8230; The facts and the U.S. Constitution are on our side, and we expect to prevail again,&#8221; he added. 
<h1 class="wp-block-heading">Can I Keep Using TikTok? Exploring The Ban&#8217;s Impact</h1>
Don&#8217;t worry, TikTok won&#8217;t just vanish from your phone overnight.
It&#8217;s likely to be at least a year before any ban takes effect, with potential legal challenges possibly extending the timeline further. While TikTok has succeeded in court before, this marks a new challenge against federal legislation.
Concerning your TikTok app, it&#8217;s unlikely to disappear from your phone immediately. However, if the ban goes into effect it may vanish from Apple and Google&#8217;s app stores, meaning no new downloads, updates, or fixes, as <a href="https://www.nbcnewyork.com/news/national-international/tiktok-ban-us-what-to-know/5350848/#:~:text=No%2C%20TikTok%20will%20not%20suddenly%20disappear%20from%20your%20phone.">per</a> NBC New York. 
Over time, this could pose security risks and usability challenges.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">Microsoft And Oracle Could Be TikTok&#8217;s &#8216;Likely Buyers,&#8217; But Real Winners Would Be Mark Zuckerberg And Sundar Pichai</a>
Photo: <a href="https://www.shutterstock.com/es/g/salarko">salarko</a> on Shutterstock.

Asia

Regulations

Social Media

AAPL

GOOGL

TikTok Fights Back, 'We Aren't Going Anywhere': What's Next For Users?

Barrington Research analyst James Goss maintains Travelzoo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZOO#NASDAQ">TZOO</a>) with a Outperform and lowers the price target from $14 to $12.

TZOO

Barrington Research Maintains Outperform on Travelzoo, Lowers Price Target to $12

Nanobiotix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTX#NASDAQ">NBTX</a>) reported quarterly losses of $(1.17) per share which beat the analyst consensus estimate of $(1.66) by 29.52 percent. This is a 32.37 percent increase over losses of $(1.73) per share from the same period last year. The company reported quarterly sales of $39.323 million which beat the analyst consensus estimate of $13.680 million by 187.45 percent. This is a 681.30 percent increase over sales of $5.033 million the same period last year.

NBTX

Nanobiotix FY 2023 GAAP EPS $(1.17) Beats $(1.66) Estimate, Sales $39.323M Beat $13.680M Estimate

Bit Digital produces 136.4 bitcoins in March, up 6% M/M

There's a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Bit Digital (BTBT – Research Report) and Galaxy Digit...

Analysts Are Bullish on These Financial Stocks: Bit Digital (BTBT), Galaxy Digital Holdings (BRPHF)

Bitcoin off to a slow start in Q2, falls 2.6% week-on-week

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investors should keep their eyes on these best <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> to buy in April for substantial gains for the rest of the year. Penny stocks are more affordable than their higher-priced counterparts, allowing investors with limited capital to participate in the stock market and build a diversified portfolio.



Another great thing is that these companies often have tiny market caps and cheap valuations, so the prospects of hitting a multi-bagger is perhaps the highest for these types of investments. 



Of course, the flip side is that many penny stocks also carry a heightened risk of failure, as these smaller companies may lack the resources, management expertise, or competitive advantages to sustain long-term growth.



With that said, here are seven of the best penny stocks to buy for April. These companies have that magic mix of advantages and low valuations that make them attractive for investors of various risk tolerances and time horizons.



<h2>Taboola (TBLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/shutterstock_1837963990-300x169.jpg" alt="TBLA stock: Taboola company website with logo close up"><div>Source: Postmodern Studio / Shutterstock</div></div>Taboola (NASDAQ:<a href="https://investorplace.com/stock-quotes/tbla-stock-quote/">TBLA</a>) operates in the online advertising space, having gained recognition for its content recommendation platform and its deal with NBCUniversal News Group.



I believe that TLBA could be one of those best penny stocks to buy in April for a few different reasons. Analysts <a href="https://www.investing.com/news/stock-market-news/earnings-call-taboola-anticipates-robust-growth-in-2024-with-strong-q4-results-3321862">view TBLA&rsquo;s future positively</a>, expecting a 33% revenue growth in 2024 to nearly $2 billion. A $100 million share buyback program has also been authorized.



The company itself is <a href="https://finance.yahoo.com/news/taboola-com-ltd-tbla-reports-113456704.html">forecasting substantial growth</a> across key metrics. The company expects revenue from its main operating segments to grow by 25% compared to 2023, with adjusted EBITDA expected to exceed $200 million and free cash flow projected to surpass $100 million.



TBLA could be a great pick for investors who want to invest in a developing advertising company without paying for a steep valuation. Therefore, it&rsquo;s one of those best penny stocks to buy in April.



<h2>New Gold (NGD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/gold1600-300x169.jpg" alt="Closeup of a large gold nugget. stocks under $10"><div>Source: Shutterstock</div></div>New Gold (NYSE:<a href="https://investorplace.com/stock-quotes/ngd-stock-quote/">NGD</a>) is a Canadian-based gold mining company with multiple projects.



Gold has always been a favorite of mine as a precious metal to invest in due to its lack of correlation with traditional risk assets, but NGD stands as a promising penny stock to invest in on its own while preserving some of Gold&rsquo;s uncorrelated properties.



The company has a number of investments planned for this year. These investments are expected to underpin free cash flow generation, <a href="https://www.newswire.ca/news-releases/new-gold-outlines-significant-free-cash-flow-generation-profile-supported-by-improving-production-and-decreasing-costs-over-the-next-three-years-854846781.html">with a notable increase</a> in gold production projected at the Rainy River Mine to between 250,000 and 280,000 ounces.



Financially, NGD&rsquo;s performance in <a href="https://finance.yahoo.com/news/gold-reports-fourth-quarter-full-221500827.html">2023 laid a strong foundation</a>, with revenue growing to $786.5 million from the previous year. The increase was primarily driven by higher sales volumes and gold prices, although partially offset by lower copper prices.&nbsp;



NGD could then be a great option for those who want exposure to precious metals.



<h2>Bit Digital (BTBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/bitcoin_world_map_1600-300x169.jpg" alt="A map of the world with Bitcoin iconography overlaid on various countries with lines between various icons."><div>Source: naulicrea / Shutterstock.com</div></div>Bit Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/btbt-stock-quote/">BTBT</a>) is engaged in the cryptocurrency mining sector, focusing on Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) production.



Bitcoin will continue to be a strong winner in my opinion, and I think that after a pullback this April following the upcoming halving event, it could continue its rapid capital appreciation as institutional investment continues to pour into it. Small miners like BTBT could then lend themselves to significant returns.



In 2024, BTBT plans to focus on enhancing its Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) treasury holdings through the conversion of mined bitcoin into ETH for staking. For January 2024, BTBT reported the production of 145.7 BTC, a decrease from the previous month, with an active hash rate of approximately 2.50 EH/s.&nbsp;



The company&rsquo;s digital asset holdings, including BTC and ETH, were valued at approximately $74 million, with cash and equivalents of $22.6 million. BTBT&rsquo;s staked ETH earned a blended APY of about 3.69%, yielding approximately 38.7 ETH in rewards for the month.



This backdrop and its war chest of crypto make it one of the best penny stocks to buy in April.



<h2>Future FinTech Group (FTFT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/fintech_1600-300x169.jpg" alt='undervalued fintech stocks A concept image of a hand reaching toward the word "Fintech," which is surrounded by icons representing money and growth. Fintech Stock Bargains, fintech stock'><div>Source: Wright Studio / Shutterstock.com</div></div>Future FinTech Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/ftft-stock-quote/">FTFT</a>) works in the blockchain and fintech industries catering to a global clientele in the e-commerce sector.



The company&rsquo;s main business includes an online shopping platform, Chain Cloud Mall (<a href="https://investorplace.com/stock-quotes/ccm-stock-quote/">CCM</a>), based on blockchain technology. FTFT has expanded into financial services and cryptocurrency market data services.



For the third quarter of 2023, <a href="https://www.wallstreetzen.com/stocks/us/nasdaq/ftft/earnings">FTFT reported an earnings per share</a>&nbsp; of negative 16 cents marking a 36% improvement compared to the same period the previous year, where the EPS was negative 25 cents The total earnings for the quarter were approximately -$2.49 million.



The reason I think FTFT could be a long-term winner is that its CCM platform is one of the most disruptive in the industry, and <a href="https://bluetree.digital/fintech-market-growth-statistics/#:~:text=The%20global%20fintech%20market%20is%20projected%20to%20reach%20%24460%20billion,22.17%25%20from%202020%20to%202025.">gives people an alternative</a> to the big name brands. The fintech industry is expanding rapidly, and I believe that investors should have exposure to this sector for long-term gains.



<h2>Gerdau (GGB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/ggb-stock-1-300x169.jpg" alt="A close-up shot of the Gerdau (GGB) office sign in Sao Paolo, Brazil."><div>Source: casa.da.photo / Shutterstock.com</div></div>Gerdau (NYSE:<a href="https://investorplace.com/stock-quotes/ggb-stock-quote/">GGB</a>) is a steel producer with operations spread across various sectors such as civil construction and automotive. The steel industry heavily relies on the health of the Chinese economy to fuel its expansive construction projects.



I&rsquo;m bullish on China, notwithsanding some short-term setbacks, as it has <a href="https://www.wsj.com/economy/chinas-service-economy-expands-further-caixin-pmi-shows-b6c0ca62">now shown some signs of recovery</a>.



The company <a href="https://www.marketscreener.com/quote/stock/GERDAU-S-A-6492877/news/Gerdau-S-A-2Q23-Earnings-Release-44555220/">closed the second quarter</a> of 2023 with an adjusted EBITDA of $3.8 billion, marking one of its best historical results for the period, despite a slight decrease in shipments of steel. 



Despite this, GGB&rsquo;s P/E ratio is below the US market average, indicating good value compared to peers and industry.



GGB stock is then one of those best penny stocks to buy due its valuation, as well as the fact that it gives investors some indirect exposure to China&rsquo;s continued rise as an emerging economy through its healthy appetite for steel.



The projected one-year price target suggests a potential upside of 19.16% from its current price, setting the target at $5.10.



<h2>Genworth Financial (GNW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/gnw1600-300x169.jpg" alt="A shot of the Genworth Financial (GNW) sign on an office building in Canada."><div>Source: JHVEPhoto / Shutterstock.com</div></div>Genworth Financial (NYSE:<a href="https://investorplace.com/stock-quotes/gnw-stock-quote/">GNW</a>) is an insurance holding company offering products like mortgage insurance and long-term care insurance.



In the fourth quarter of 2023, GNW <a href="https://finance.yahoo.com/news/genworth-financial-gnw-q4-2023-194515748.html">experienced several financial shifts</a>, notably in its long-term care insurance and life and annuities sectors. 



The company reported an adjusted operating loss of $151 million in long-term care insurance, a decrease from a $204 million income in the same quarter of the previous year.&nbsp;



&nbsp;It also announced a significant $350 million share repurchase authorization in July of the previous year. GNW plans to invest approximately $35 million in 2024 in CareScout services, aiming to drive long-term growth for its offerings.



I think that GNW could be one of those penny stocks to buy in April, primarily due to management&rsquo;s strong conviction that its shares are undervalued, evidence through the share repurchase, as well as being n undervalued insurance company in its own right when compared with its peer companies.



<h2>Transocean (RIG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rig-1600-300x169.jpg" alt="Transocean logo on a laptop screen. RIG stock."><div>Source: Postmodern Studio / Shutterstock</div></div>Transocean (NYSE:<a href="https://investorplace.com/stock-quotes/rig-stock-quote/">RIG</a>) is a major player in deep-water and ultra-deep-water drilling with a global operational footprint.



RIG entered 2024 on a <a href="https://finance.yahoo.com/news/transocean-ltd-rig-reports-narrowed-113215085.html">somewhat positive note</a>, with a narrowed net loss in Q4 2023 and a robust backlog. RIG reported an adjusted EBITDA of $122 million and a margin of 16.3%. 



The company&rsquo;s backlog stood at $9.01 billion. Meanwhile, its management noted the addition of $3.2 billion to the backlog during the quarter and highlighted the delivery and commissioning of two eighth-generation drillships.&nbsp;



This backdrop is enough for me to recommend RIG and one of the best penny stocks for investors to scoop up in April this year.



The stock has also seen an increase in value, rising 5% from the start of 2024 to the recent trading price. Analysts set a 12-month price target with an average expectation of $8.06, indicating a potential upside of around 20.9% from its current trading level&#8203;.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-7-best-penny-stocks-to-buy-in-april-2024/">The 7 Best Penny Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 7 Best Penny Stocks to Buy in April 2024

Bitcoin retreats back to below $70K as market volatility persists

These are the 3 Best Cryptocurrency Stocks to buy in April 2024, as per Wall Street analysts. The crucial Bitcoin (BTC-USD) halving event is soon a...

3 Best Crypto Stocks to Buy in April 2024, According to Analysts

Bitcoin briefly slides to below $60K level for first time since early March

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Leading Bitcoin (NASDAQ:<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) miners are working hard to boost output and efficiency in the run-up to the 2024 Bitcoin halving. Slated for some time between April 19 and 20, the block reward will fall from 6.25 to 3.125.



The Bitcoin halving occurs every four years, ensuring deflation. Bitcoin investors monitor the event because it frequently raises the cryptocurrency&rsquo;s price, which currently needs a boost <a href="https://www.coindesk.com/markets/2024/04/13/bitcoin-falls-8-drops-below-62k-before-rebound/">after falling 8% below $62,000</a> due to global fears.



Consequently, by mid-2024, our first choice will be a Bitcoin miner expanding its capacity at a new facility. 31,500 advanced miners are part of the facility refurbishment, which will boost operational hash rate capacity by 22%.



To increase sustainability, another massive Bitcoin miner built a 200-megawatt data center next to a renewable power source. This turn toward environmental responsibility and cost efficiency should drop operating expenses by 20%. In March 2024, this miner was ready for the halving, with a working hash rate of 18.3 EH/s.



A third miner completes the group, which is using high-efficiency equipment to take advantage of post-halving dynamics and quadruple its fleet by mid-2024. 



Apart from ambitious strategies to increase efficiency ahead of the fourth halving, all three Bitcoin miners offer double-digit upside up to 151%. 



<h2>Riot Platforms (RIOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/riot1600-300x169.png" alt="In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>Riot Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/riot-stock-quote/">RIOT</a>) must change its approach before the Bitcoin halving, since it hasn&rsquo;t worked thus far. The Bitcoin miner <a href="https://seekingalpha.com/news/4087232-riot">generated 425 Bitcoins in March 2024</a>, up 2% from the previous month but down 39% from the prior year.



As of the end of the month, its deployed hash rate was 12.4 EH/s, the same as February, but higher than 10.5 a year earlier. Needless to say, this is hardly good news coming into halving season.



However, the firm is <a href="https://www.riotplatforms.com/riot-announces-march-2024-production-and-operations-updates/">developing the Corsicana Facility</a> to increase mining capacity. It should increase to 400 MW and 1 GW. Operations will be simplified by a 400 MW substation and immersion systems in April 2024.



Riot replaced failing miners with <a href="https://rss.globenewswire.com/news-release/2024/02/27/2836095/0/en/Riot-Purchases-31-500-Miners-From-MicroBT-to-Enhance-and-Expand-Self-Mining-Operations-at-Its-Rockdale-Facility.html">31,500 MicroBT M60S miners</a> to improve Rockdale Facility efficiency. The restoration will boost the facility&rsquo;s hash rate capacity from 12.4 EH/s to 15.1 EH/s by July 2024.



Riot has <a href="https://decrypt.co/146308/bitcoin-mining-firm-riot-secures-33000-new-rigs-for-162-million#:~:text=%240.02621866%0A%0A,8.85%25%0A%0A%23%23%23%20%E3%80%90235%E2%80%A0WCFG%E3%80%91">added 33,000 rigs</a> to prepare for the 2024 Bitcoin halving, increasing its operations by 18 EH/s. Riot can self-mine 38 EH/s when all its rigs are online in the second half of 2025.



It wants to reach 41 EH/s self-mining hash rate capacity in 2025 when all Corsicana Facility miners are operational. Riot has placed purchase orders for miners to raise its mining capacity to over 100 EH/s in the coming years in order to become the leading Bitcoin-driven infrastructure provider.



Analysts rate RIOT a strong buy, <a href="https://www.tipranks.com/stocks/riot/forecast">predicting a 116% upside</a> based on a target price of $19.67. The forecast is based on 9 analyst ratings, all of which are rated buy.



<h2>Marathon Digital Holdings (MARA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/mara1600-1-300x169.png" alt="Person holding mobile phone with logo of American company Marathon Digital Holdings Inc. on screen in front of web page. Focus on phone display. Unmodified photo. MARA stock"><div>Source: T. Schneider / Shutterstock.com</div></div>Like Riot Platforms, Marathon Digital Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>) is one of the biggest Bitcoin miners in the world and has made significant operational and strategic improvements to boost efficiency before the halving.



In Garden City, Texas, <a href="https://finance.yahoo.com/news/marathon-digital-holdings-announces-closing-200500988.html">it bought a 200-megawatt</a> Bitcoin mining data center near a wind farm. Marathon forecasts a 20% operational expenditure reduction and enhanced sustainability after this transaction. Marathon Digital Holdings also manages newly acquired sites <a href="https://ir.mara.com/news-events/press-releases/detail/1340/marathon-digital-holdings-to-assume-full-operational">in Texas and Nebraska</a> without third parties, reducing expenses and improving mining efficiency.



Marathon&rsquo;s March 2024 operational <a href="https://finance.yahoo.com/news/marathon-digital-holdings-announces-bitcoin-123000533.html">hash rate was 18.3 EH/s</a>. By March 2024, Bitcoin holdings reached 17,381 BTC, with unconstrained cash rising to $324.3 million from the previous year.



Marathon wants to raise its capacity to 1.1 gigawatts, with a large share owned and controlled by Marathon.



At the same time, MARA&rsquo;s financial plan may include selling certain Bitcoin holdings to pay monthly operations and manage the treasury. 440 Bitcoins were sold in March alone.



There&rsquo;s an <a href="https://www.tipranks.com/stocks/mara/forecast">upside potential of 40%</a>, with the average price target set at $22.55 (versus the last closing price of $16.11).



<h2>Bit Digital (BTBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/shutterstock_772693789-300x169.jpg" alt="Bit Digital (BTBT stock): several rows of processors in a crypto mining farm."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock</div></div>Bit Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/btbt-stock-quote/">BTBT</a>) will wrap up our discussion of Bitcoin miners with plans to <a href="https://finance.yahoo.com/news/bit-digital-inc-announces-2024-130000978.html">quadruple its Bitcoin mining fleet</a> to 6.0 EH/s in April 2024.



The miner generated 136.4 bitcoins in March 2024, a 6% rise over the previous month. As of March 31, the company&rsquo;s active hash rate was around 2.76 EH/s. Treasury holdings of ETH and BTC were 16,032.0 and 956.6, respectively. Its holdings of digital assets were worth around $127.7 million as of March 31.



By the end of 2024, the firm hopes to increase its revenue run-rate from around $50 million to $100 million by developing its Bit Digital AI business. This covers onboarding new clients and extending current contracts.&#8203;



Bit Digital has $34.9 million in cash, $74 million in digital assets and <a href="https://finance.yahoo.com/news/bit-digital-inc-announces-2024-130000978.html">does not have debt</a>. Since miners&rsquo; rewards are halved every 210,000 blocks, it&rsquo;s crucial to have a flexible financial sheet.



With <a href="https://finance.yahoo.com/news/bit-digital-inc-announces-monthly-130000144.html">12,752 ETH invested</a> as of late 2023, the firm generated an October blended annual percentage yield (APY) of nearly 4.25%. Bit Digital keeps converting bitcoin that has been mined into ETH for staking, which generates further income via staking incentives.



With an average price target of $5.17, BTBT <a href="https://www.tipranks.com/stocks/btbt/forecast">has a 151% upside</a> from its last closing price of $2.06.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-halving-is-nigh-3-under-the-radar-bitcoin-miners-to-buy-now/">The Halving Is Nigh: 3 Under-the-Radar Bitcoin Miners to Buy Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.