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Bit Digital returns to profit in Q3 but revenue drops 11%

Bit Digital reported a $28.5 million profit for the third quarter, but its revenue fell 11%. Its shares slipped 5% to 9% in pre-market trading after the revenue came in below expectations.

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Bit Digital moved from a loss to a profit of $28.5 million in the third quarter. The gain came even though the company's revenue, the money it takes in from sales, fell 11%.

Shares of the company dropped between 5% and 9% in pre-market trading, the period before the regular stock session opens. The drop followed a revenue miss, meaning the company's sales fell short of what investors had expected.

Bit Digital$0.7664down −36.69%over 1 month
$1.21$0.706013 Oct12 Nov

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