Monitor for any narrowing of the ~34% mNAV discount, which could signal market re-rating. The ETH-backed loan facility and WhiteFiber's execution on contracted capacity (76 MW by YE 2026) are key catalysts to watch.
Price Chart
Executive Summary
Bit Digital filed an 8-K furnishing an investor presentation that outlines its strategy as a 'Strategic Asset Company' holding Ethereum and a ~70% stake in WhiteFiber (WYFI), an AI infrastructure platform. The presentation highlights a ~34% discount to net asset value (mNAV) and a new ETH-backed loan facility to fund WYFI buildouts, but contains no new financial results or guidance.
Key Facts
- Bit Digital holds 162,080 ETH valued at ~$324.8M and a 70.5% stake in WhiteFiber (WYFI) valued at ~$755.6M as of May 31, 2026.
- Combined asset value of ~$1.08B implies a ~34% discount to mNAV per share of $3.06 vs. BTBT share price of $2.02.
- BTBT has a delayed-draw term loan facility of up to $100M (expandable to $150M) to finance WYFI buildouts, earning a 7% interest spread.
- WhiteFiber has ~11 MW online, ~76 MW expected by YE 2026, and a ~1.5 GW pipeline; recent cloud contract wins exceed $175M.
- The presentation is forward-looking with no new financial results or guidance; it is furnished under Regulation FD.
Financial Impact
No new financial results reported; presentation reiterates existing asset values and strategic positioning.
Risk Factors
- ETH price volatility directly impacts the value of the core treasury asset.
- Execution risk on WhiteFiber's data center buildouts and customer deployments.
- The mNAV discount may persist or widen if market sentiment on crypto or AI infrastructure shifts.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-073316 |
| Document: ea029641201ex99-1.htm | 0001213900-26-073316 |
| Document: 0001213900-26-073316-index-headers.html | 0001213900-26-073316 |
| Document: 0001213900-26-073316-index.html | 0001213900-26-073316 |
| Document: 0001213900-26-073316.txt | 0001213900-26-073316 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | Court Ruling | $1.57 $1.52 | ▼ −3.18% | ▼ −1.19% | $1.63 (+3.82%) |
Aug 13, 2026 7w ago | Press Release | $1.49 $1.59 | ▲ +6.71% | ▲ +8.46% | $1.63 (+9.40%) |
Aug 3, 2026 8w ago | 8-K | $1.38 $1.43 | ▲ +3.62% | ▲ +2.39% | $1.63 (+18.12%) |
Jul 20, 2026 10w ago | DEFA14A | $1.54 $1.60 | ▲ +3.90% | ▼ −0.22% | $1.63 (+5.84%) |
Jun 30, 2026 13w ago | 8-K | $1.80 $1.35 | ▼ −25.00% | ▼ −23.97% | $1.63 (−9.44%) |
Jun 17, 2026 15w ago | DEFA14A | $2.17 $1.47 | ▼ −32.26% | ▼ −32.79% | $1.63 (−24.88%) |
May 27, 2026 18w ago | 8-K | $2.03 $1.99 | ▼ −1.97% | ▲ +1.17% | $1.63 (−19.70%) |
Mar 31, 2026 26w ago | 8-K | $1.38 $1.45 | ▼ −5.07% | ▲ +4.65% | $1.63 (−18.12%) |
Feb 25, 2026 31w ago | 8-K | $1.78 $1.44 | ▲ +19.10% | ▲ +12.70% | $1.63 (+8.43%) |
US Market Status
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