Comprehensive Stock Comparison
Compare Bit Digital, Inc. (BTBT) vs TeraWulf Inc. (WULF) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | BTBT | 264.6% revenue growth vs WULF's 102.3% |
| Quality / Margins | BTBT | 17.3% net margin vs WULF's -51.7% |
| Stability / Safety | BTBT | Beta 1.83 vs WULF's 2.58, lower leverage |
| Dividends | BTBT | 0.3% yield; WULF pays no meaningful dividend |
| Momentum (1Y) | WULF | +287.1% vs BTBT's -32.1% |
| Efficiency (ROA) | BTBT | 12.1% ROA vs WULF's -23.0%, ROIC 6.5% vs -10.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Bit Digital is a bitcoin mining company that operates specialized computers to validate blockchain transactions and earn cryptocurrency rewards. It generates revenue primarily from bitcoin mining rewards (over 90% of revenue) and secondarily from treasury management of its bitcoin holdings. The company's competitive advantage lies in its strategic geographic diversification—with operations in North America and Asia—and access to low-cost renewable energy sources that improve mining profitability.
TeraWulf is a bitcoin mining company that develops, owns, and operates large-scale mining facilities in the United States. It generates revenue primarily from bitcoin mining rewards — converting electricity into digital assets — with additional income from hosting services for other miners. The company's competitive advantage lies in its access to low-cost, sustainable energy sources — particularly nuclear and hydroelectric power — which gives it superior mining economics.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BTBT leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). WULF leads in 2 (Total Returns, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
BTBT and WULF operate at a comparable scale, with $164M and $140M in trailing revenue. BTBT is the more profitable business, keeping 17.3% of every revenue dollar as net income compared to WULF's -51.7%.
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| RevenueTrailing 12 months | $164M | $140M |
| EBITDAEarnings before interest/tax | $166M | -$72M |
| Net IncomeAfter-tax profit | $137M | -$564M |
| Free Cash FlowCash after capex | -$448M | -$677M |
| Gross MarginGross profit ÷ Revenue | +61.9% | +55.3% |
| Operating MarginEBIT ÷ Revenue | +16.8% | -54.4% |
| Net MarginNet income ÷ Revenue | +17.3% | -51.7% |
| FCF MarginFCF ÷ Revenue | -65.3% | -2.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +2.8% | -17.7% |
Valuation Metrics
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| Market CapShares × price | $538M | $7.1B |
| Enterprise ValueMkt cap + debt − cash | $457M | $7.3B |
| Trailing P/EPrice ÷ TTM EPS | 8.35x | -77.24x |
| Forward P/EPrice ÷ next-FY EPS est. | 139.17x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 7.63x | — |
| Price / SalesMarket cap ÷ Revenue | 3.29x | 50.87x |
| Price / BookPrice ÷ Book value/share | 0.51x | 23.31x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
BTBT delivers a 13.1% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $-2 for WULF. BTBT carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to WULF's 2.01x. On the Piotroski fundamental quality scale (0–9), BTBT scores 6/9 vs WULF's 3/9, reflecting solid financial health.
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +13.1% | -2.3% |
| ROA (TTM)Return on assets | +12.1% | -23.0% |
| ROICReturn on invested capital | +6.5% | -10.6% |
| ROCEReturn on capital employed | +8.5% | -15.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.03x | 2.01x |
| Net DebtTotal debt minus cash | -$81M | $217M |
| Cash & Equiv.Liquid assets | $95M | $274M |
| Total DebtShort + long-term debt | $14M | $491M |
| Interest CoverageEBIT ÷ Interest expense | — | -27.06x |
Total Returns (with DRIP)
A $10,000 investment in WULF five years ago would be worth $21,413 today (with dividends reinvested), compared to $1,009 for BTBT. Over the past 12 months, WULF leads with a +287.1% total return vs BTBT's -32.1%. The 3-year compound annual growth rate (CAGR) favors WULF at 193.7% vs BTBT's 9.8% — a key indicator of consistent wealth creation.
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -18.1% | +27.3% |
| 1-Year ReturnPast 12 months | -32.1% | +287.1% |
| 3-Year ReturnCumulative with dividends | +32.5% | +2434.4% |
| 5-Year ReturnCumulative with dividends | -89.9% | +114.1% |
| 10-Year ReturnCumulative with dividends | -63.9% | +77.6% |
| CAGR (3Y)Annualised 3-year return | +9.8% | +193.7% |
Risk & Volatility
BTBT is the less volatile stock with a 1.83 beta — it tends to amplify market swings less than WULF's 2.58 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WULF currently trades 87.6% from its 52-week high vs BTBT's 36.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.83x | 2.58x |
| 52-Week HighHighest price in past year | $4.55 | $18.51 |
| 52-Week LowLowest price in past year | $1.49 | $2.06 |
| % of 52W HighCurrent price vs 52-week peak | +36.7% | +87.6% |
| RSI (14)Momentum oscillator 0–100 | 46.2 | 64.4 |
| Avg Volume (50D)Average daily shares traded | 25.6M | 24.9M |
Analyst Outlook
Wall Street rates BTBT as "Buy" and WULF as "Buy". Consensus price targets imply 199.4% upside for BTBT (target: $5) vs 38.7% for WULF (target: $23). BTBT is the only dividend payer here at 0.34% yield — a key consideration for income-focused portfolios.
| Metric | BTBTBit Digital, Inc. | WULFTeraWulf Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $5.00 | $22.50 |
| # AnalystsCovering analysts | 1 | 11 |
| Dividend YieldAnnual dividend ÷ price | +0.3% | — |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $0.01 | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 100 | 485 | +385.0% |
| TeraWulf Inc. (WULF) | 100 | 259.96 | +160.0% |
TeraWulf Inc. (WULF) returned +114% over 5 years vs Bit Digital, Inc. (BTBT)'s -90%. A $10,000 investment in WULF 5 years ago would be worth $21,413 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | $0.00 | $164M | — |
| TeraWulf Inc. (WULF) | $18M | $140M | +697.5% |
Bit Digital, Inc.'s revenue grew from $0M (2015) to $164M (2024) — a 0.0% CAGR. TeraWulf Inc.'s revenue grew from $18M (2015) to $140M (2024) — a 25.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | 4.3% | 17.3% | +298.1% |
| TeraWulf Inc. (WULF) | 0.8% | -51.7% | -6826.7% |
TeraWulf Inc.'s net margin went from 1% (2015) to -52% (2024).
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Bit Digital, Inc. (BTBT) | -0.01 | 0.2 | +2839.7% |
| TeraWulf Inc. (WULF) | 0.07 | -0.21 | -413.9% |
Bit Digital, Inc.'s EPS grew from $-0.01 (2015) to $0.20 (2024). TeraWulf Inc.'s EPS grew from $0.07 (2015) to $-0.21 (2024) — a NaN% CAGR.
Chart 5Free Cash Flow — 5 Years
Bit Digital, Inc. generated $-107M FCF in 2024 (-53% vs 2021). TeraWulf Inc. generated $-292M FCF in 2024 (-120% vs 2021).
BTBT vs WULF: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is BTBT or WULF a better buy right now?
Bit Digital, Inc. (BTBT) offers the better valuation at 8.3x trailing P/E (139.2x forward), making it the more compelling value choice. Analysts rate Bit Digital, Inc. (BTBT) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — BTBT or WULF?
Over the past 5 years, TeraWulf Inc. (WULF) delivered a total return of +114.1%, compared to -89.9% for Bit Digital, Inc. (BTBT). A $10,000 investment in WULF five years ago would be worth approximately $21K today (assuming dividends reinvested). Over 10 years, the gap is even starker: WULF returned +77.6% versus BTBT's -63.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — BTBT or WULF?
By beta (market sensitivity over 5 years), Bit Digital, Inc. (BTBT) is the lower-risk stock at 1.83β versus TeraWulf Inc.'s 2.58β — meaning WULF is approximately 41% more volatile than BTBT relative to the S&P 500. On balance sheet safety, Bit Digital, Inc. (BTBT) carries a lower debt/equity ratio of 3% versus 2% for TeraWulf Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — BTBT or WULF?
Bit Digital, Inc. (BTBT) is the more profitable company, earning 17.3% net margin versus -51.7% for TeraWulf Inc. — meaning it keeps 17.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BTBT leads at 16.8% versus -54.4% for WULF. At the gross margin level — before operating expenses — BTBT leads at 61.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is BTBT or WULF more undervalued right now?
Analyst consensus price targets imply the most upside for BTBT: 199.4% to $5.00.
06Which pays a better dividend — BTBT or WULF?
In this comparison, BTBT (0.3% yield) pays a dividend. WULF does not pay a meaningful dividend and should not be held primarily for income.
07Is BTBT or WULF better for a retirement portfolio?
For long-horizon retirement investors, Bit Digital, Inc. (BTBT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. TeraWulf Inc. (WULF) carries a higher beta of 2.58 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BTBT: -63.9%, WULF: +77.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between BTBT and WULF?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BTBT is a small-cap deep-value stock; WULF is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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