BTBT Stock Hits Two-Month High In Largest Jump Since 2024 – New IR Chief Sparks Pre-Earnings Rally

• The rally followed the company’s announcement that it had hired a new head of investor relations ahead of first-quarter earnings.
• Retail sentiment around BTBT on Stocktwits strengthened to ‘extremely bullish’ from the ‘bullish’ zone.
• Some retail traders on the platform credited the stock’s momentum to the investor relations transition and broader strength in crypto-linked equities.

Bit Digital (BTBT) stock was on track to report its largest single-day gain in over a year after the company announced it had hired a new head of investor relations ahead of its first quarter earnings on Thursday.

BTBT’s stock rose nearly 20% in midday trade, hitting an over two-month high of $2.17. This is the biggest single-day gain for the shares since November 2024. Retail sentiment on Stocktwits around the company rose to ‘extremely bullish’ from ‘bullish’ over the past day, accompanied by chatter at ‘high’ levels. 

Some retail traders on the platform pointed to the company hiring Daniel Kennedy as its new head of investor relations as the potential catalyst behind the move. One user wrote that the “new IR guy is doing a great job.”

Others tied the rally to broader expectations for strength in Bitcoin (BTC), Ethereum (ETH), and crypto-linked stocks this week amid President Donald Trump’s visit to China later this week.

BTBT Rally Gains Steam Before Q1 Results

Wall Street expects Bit Digital to report revenue of roughly $25 million for the first quarter, alongside an adjusted loss of $0.05 per share come Thursday.

The sharp move higher reflects growing speculative interest in smaller-cap crypto infrastructure names after last week’s run. Pivoting Bitcoin miners Hut 8 (HUT), Core Scientific (CORZ), Riot Platforms (RIOT), and Iren (IREN), saw their stocks explode to fresh highs last week.

RIOT’s stock rallied to a four-year high after announcing a partnership with Terrestrial Energy to develop nuclear-powered data centers tied to artificial intelligence workloads and high-performance computing. The company said the initiative could scale up to 4 gigawatts of nuclear capacity, though deployment is expected in the early 2030s.

CORZ’s stock hit a record high last week after unveiling plans to transform its Muskogee, Oklahoma, campus into one of the largest data center developments in the U.S., taking it into gigawatt (GW) scale. 

Meanwhile, HUT’s stock surged after announcing a 15-year, $9.8 billion data center lease agreement in Texas linked to AI infrastructure expansion alongside its Q1 print. While its revenue fell short of expectation, losses were narrower than expected.

Wall Street Sees Triple-Digit Upside Potential

The average analyst price target on BTBT currently stands around $4.80, implying potential upside of more than 120% from current trading levels, according to Koyfin data. Five analysts actively cover the stock, and all currently maintain ‘Buy’ ratings.

Bit Digital is currently the fifth-largest corporate holder of Ethereum (ETH), with over 140,000 ETH on its balance sheet. Ethereum’s price dipped nearly 1% in the last 24 hours, holding above $2,300, which would value BTBT’s ETH holdings at around $325 million. 

Like other crypto miners, BTBT has also pivoted towards artificial intelligence (AI) and high performance computing (HPC) workloads. In early 2025, the company rebranded its HPC operations as WhiteFiber (WYFI) to focus on GPU cloud services and data centers. 

WYFI’s stock price jumped over 33% in its largest single day gain on record to a 6-month high of $29. Retail sentiment around the company on Stocktwits rose to ‘extremely bullish’ from ‘bullish’ territory over the past day, and chatter surged to ‘extremely high’ from ‘high’ levels. 

Read also: MARA, CLSK Stocks Face Earnings Test After Last Week’s AI-Fueled Rally: Retail Sentiment Diverges

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