Bit Digital, Inc (BTBT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 15, 2026

Risk Assessment Details

Potential Dilution: 87.84% of current shares
Recent Dilution: 70.57% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
330M
Potential Supply
290M
Additional shares possible
Splits
None
Past 2 years

Summary

BTBT currently has 326M outstanding shares. with significant dilution risk as 286M authorized shares could dilute existing holders by 87.8%. The company has significantly diluted shareholders by 70.57% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 15, 2026

10-Q filing | 325.6M shares outstanding

330M 290M
Mar 27, 2026

10-K filing | 326.6M shares outstanding

330M 290M
Nov 14, 2025

10-Q filing | 318.9M shares outstanding

320M 290M
Aug 14, 2025

10-Q filing | 321.4M shares outstanding

320M 290M
Jul 15, 2025

8-K filing: Bit Digital, Inc. completed a registered direct offering of 22,000,000 ordinary shares at $3.06 per share, resulting in gross proceeds of approximately $67.3 million before deducting fees and expenses. ($67.3M proceeds)

210M 290M
Jun 27, 2025

8-K filing: Bit Digital, Inc. completed a public offering of 75,000,000 ordinary shares at a price of $1.90 per share, with an option for the underwriters to purchase an additional 11,250,000 shares, resulting in estimated net proceeds of $141.5 million. ($163.88M proceeds)

210M 290M
Jun 18, 2025

S-3/A filing: Bit Digital, Inc. may offer and sell ordinary shares, preference shares, debt securities, and subscription rights from time to time in one or more offerings, for an aggregate initial offering price of $500,000,000.

210M 290M
Jun 11, 2025

S-3/A filing: Bit Digital, Inc. is offering up to $500,000,000 of its ordinary shares from time to time through H.C. Wainwright & Co., LLC as sales agent in an at the market offering.

210M 320M
May 15, 2025

10-Q filing | 207.8M shares outstanding

210M 320M
Apr 30, 2025

S-3 filing: The filing is an S-3 prospectus supplement for an at-the-market offering of ordinary shares with an aggregate offering price of up to $500,000,000 through H.C. Wainwright & Co., LLC as sales agent.

200M 320M
Mar 14, 2025

10-K filing | 182.4M shares outstanding

180M 80M
Mar 18, 2024

20-F filing | 107.3M shares outstanding

110M 80M
Apr 28, 2023

20-F filing | 78.6M shares outstanding

79M 80M
Aug 10, 2022

F-3 filing: This F-3 filing registers 20,000,000 ordinary shares for sale by the selling shareholder, Ionic Ventures, LLC, with the company not receiving any proceeds from the sale.

73M 80M
Apr 15, 2022

20-F filing | 73.1M shares outstanding

73M 60M
Oct 14, 2021

F-3 filing: This F-3 filing relates to the sale by selling shareholders of up to 23,608,774 Ordinary Shares consisting of (a) 13,490,728 Ordinary Shares sold to institutional investors and (b) 10,118,046 Ordinary Shares issuable upon exercise of Ordinary Share Purchase Warrants.

54M 60M
Jul 30, 2021

F-3 filing: This F-3 filing relates to the sale by a selling shareholder of up to 20,000,000 ordinary shares issuable to Ionic Ventures, LLC under a Purchase Agreement dated as of July 30, 2021.

54M 27M
Jul 15, 2021

F-3 filing: Bit Digital, Inc. is offering ordinary shares, preferred shares, and debt securities from time to time for an aggregate initial offering price of $500,000,000.

54M 6.6M
Mar 30, 2021

20-F filing | 48.0M shares outstanding

48M 6.6M
Mar 10, 2021

F-1 filing: This F-1 filing registers 6,412,500 ordinary shares for resale by a selling shareholder, Ionic Ventures, including shares issuable upon conversion of notes and under a purchase agreement. The company may receive up to $80,000,000 from the sale of Ordinary Shares to Ionic under the Purchase Agreement.

48M 6.6M
Jul 29, 2020

20-F filing | 15.4M shares outstanding

15M 0
May 28, 2020

6-K filing: Golden Bull Limited entered into securities purchase agreements with certain Non-U.S. Persons for a private placement of up to 21,500,000 ordinary shares at $0.80 per share, with maximum gross proceeds of $17,200,000, to be used for bitcoin mining machines, car rental sites, and working capital. ($17.2M proceeds)

N/A 0
May 15, 2020

6-K filing: Golden Bull Limited completed the sale of 6,500,000 shares of common stock at $0.40 per share for gross proceeds of $2,600,000 on May 8, 2020. ($2.6M proceeds)

N/A 0
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