Bit Digital’s Stock Slips Despite Nvidia GPU Deal With Shadeform, But Retail Remains Bullish

Bit Digital (BTBT) shares declined more than 2% in midday trade on Thursday despite the company announcing a strategic partnership between its subsidiary WhiteFiber and Shadeform to offer on-demand Nvidia (NVDA) B200 GPUs starting in April.

In February 2025, Bit Digital rebranded its high-performance computing (HPC) business to WhiteFiber, consolidating its GPU cloud services and data center operations under a new identity. The move aims to enhance its positioning in the AI infrastructure market.

Shadeform, a next-generation decentralized finance (DeFi) platform, focuses on privacy and security within the Web3 ecosystem. 

The new partnership integrates WhiteFiber’s AI-ML optimized GPU cloud with Shadeform’s multi-cloud management capabilities and GPU marketplace.

The company said organizations and developers in more than 100 regions worldwide will gain immediate access to these high-performance GPUs, which were previously cost-prohibitive due to upfront expenses and long-term commitments.

The announcement is the latest in Bit Digital’s aggressive expansion into the HPC market. 

In January 2025, it entered an agreement to supply 464 Nvidia B200 GPUs, expected to generate approximately $15 million in annualized revenue. The company also signed multiple Master Service Agreements (MSAs) for GPU deployments, contributing significantly to its revenue stream.

Bit Digital recently reported fiscal year 2024 financial results, highlighting a total revenue of $108.1 million, a 141% increase from the previous year. Bitcoin mining revenue reached $58.6 million, up 32% year-over-year, while cloud services revenue totaled $45.7 million in its first year of operations. 

Additionally, the company reported $1.8 million in Ethereum staking revenue, marking a 169% increase from the prior year.

Bit Digital retail sentiment and message volume on March 20 as of 12:20 p.m. ET | Source: Stocktwits    

On Stocktwits, retail sentiment around Bit Digital’s stock remained in the ‘extremely bullish’ zone, accompanied by ‘high’ levels of retail chatter. 

According to platform data, message volume around the ticker has increased by over 33% in the past 24 hours. 

Traders debated potential reasons for the stock's dip.

Bit Digital shares are down over 20% this year but have gained over 12% over the past 12 months.

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