Craig-Hallum Maintains a Buy Rating on Bit Digital (BTBT)

Bit Digital, Inc. (NASDAQ:BTBT) is one of the 13 Best Long-Term Penny Stocks to Buy According to Analysts. On June 2, Craig-Hallum analyst George Sutton maintained a Buy rating on Bit Digital, Inc. (NASDAQ:BTBT) without a price target.

The same day, the company announced that its wholly-owned HPC subsidiary, WhiteFiber Inc., completed the acquisition of a 96-acre, ~1 million square foot industrial property in Madison, North Carolina.

Bit Digital, Inc. (NASDAQ:BTBT) plans to retrofit the facility into a flagship AI data center facility. The announcement detailed that the facility has immediately available power, and Bit Digital, Inc. (NASDAQ:BTBT) has signed an agreement with the utility, Duke Energy, for 99 MW. Of this, 24 MW are anticipated to be delivered on or about September 1.

Headquartered in New York City, Bit Digital (NASDAQ:BTBT) is a holding company that provides a platform for digital assets and AI infrastructure. Its Bitcoin mining operations are spread through the US, Canada, and Iceland.

While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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