B. Riley analyst Nick Giles lowered the firm's price target on Bit Digital (BTBT) to $4 from $5 and keeps a Buy rating on the shares. Bit Digital reported Q1 revenue of $27.9M, down sequentially due to weaker cloud services, ETH staking, and mining activity, alongside a decline in staking income driven by lower ETH prices and portfolio repositioning, while management continues to position the business as a "Strategic Asset Company" linking ETH treasury/staking exposure with AI infrastructure via its stake in WhiteFiber (WYFI), the analyst tells investors in a research note.
