Bit Property Plant Equipment vs Total Current Liabilities Analysis

BTBT Stock

USD 2.81 0.01 0.36%

Bit Digital financial indicator trend analysis is way more than just evaluating Bit Digital prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Bit Digital is a good investment. Please check the relationship between Bit Digital Property Plant Equipment and its Total Current Liabilities accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.

Property Plant Equipment vs Total Current Liabilities

Property Plant Equipment vs Total Current Liabilities Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Bit Digital Property Plant Equipment account and Total Current Liabilities. At this time, the significance of the direction appears to have strong relationship.

The correlation between Bit Digital's Property Plant Equipment and Total Current Liabilities is 0.72. Overlapping area represents the amount of variation of Property Plant Equipment that can explain the historical movement of Total Current Liabilities in the same time period over historical financial statements of Bit Digital, assuming nothing else is changed. The correlation between historical values of Bit Digital's Property Plant Equipment and Total Current Liabilities is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Property Plant Equipment of Bit Digital are associated (or correlated) with its Total Current Liabilities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Liabilities has no effect on the direction of Property Plant Equipment i.e., Bit Digital's Property Plant Equipment and Total Current Liabilities go up and down completely randomly.

Correlation Coefficient

0.72

Relationship Direction	Positive
Relationship Strength	Significant

View All Relationships

Property Plant Equipment

Total Current Liabilities

Total Current Liabilities is an item on Bit Digital balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Bit Digital are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.

Most indicators from Bit Digital's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Bit Digital current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.Discontinued Operations is likely to drop to about (3.6 M) in 2024. Selling General Administrative is likely to drop to about 14.7 M in 2024

	2021	2022	2023	2024 (projected)
Interest Expense	9.4M	132.6M	152.5M	160.1M
Depreciation And Amortization	13.1M	27.8M	14.4M	8.1M

Interest Expense Depreciation And Amortization

Bit Digital fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Common Stock	Net Tangible Assets	Current Deferred Revenue	Other Assets	Common Stock Shares Outstanding	Property Plant Equipment
Total Assets		0.89	0.87	1.0	0.98	-0.72	-0.82	0.75	0.77	0.99	0.77	0.98	0.78	0.89	0.92	0.57	0.97	0.88	0.98	0.98	0.95	0.98	0.96	0.97	0.94	0.83
Other Current Liab	0.89		0.99	0.84	0.89	-0.39	-0.93	0.61	0.47	0.92	0.7	0.95	0.96	0.79	0.99	0.17	0.94	1.0	0.92	0.82	0.91	0.88	0.88	0.89	0.92	0.76
Total Current Liabilities	0.87	0.99		0.82	0.89	-0.33	-0.9	0.53	0.41	0.91	0.64	0.94	0.98	0.76	0.99	0.11	0.92	1.0	0.92	0.79	0.89	0.85	0.85	0.85	0.9	0.72
Total Stockholder Equity	1.0	0.84	0.82		0.96	-0.77	-0.78	0.76	0.82	0.97	0.77	0.96	0.72	0.89	0.88	0.64	0.95	0.83	0.96	0.99	0.94	0.97	0.96	0.96	0.92	0.83
Property Plant And Equipment Net	0.98	0.89	0.89	0.96		-0.58	-0.77	0.64	0.64	1.0	0.67	0.96	0.83	0.88	0.92	0.44	0.93	0.9	1.0	0.92	0.93	0.92	0.9	0.9	0.9	0.82
Net Debt	-0.72	-0.39	-0.33	-0.77	-0.58		0.49	-0.79	-0.99	-0.6	-0.7	-0.63	-0.17	-0.63	-0.44	-0.95	-0.66	-0.36	-0.57	-0.83	-0.63	-0.76	-0.77	-0.77	-0.66	-0.58
Retained Earnings	-0.82	-0.93	-0.9	-0.78	-0.77	0.49		-0.73	-0.56	-0.81	-0.81	-0.89	-0.82	-0.8	-0.9	-0.24	-0.94	-0.9	-0.81	-0.8	-0.92	-0.89	-0.89	-0.89	-0.96	-0.77
Accounts Payable	0.75	0.61	0.53	0.76	0.64	-0.79	-0.73		0.81	0.68	0.96	0.7	0.4	0.87	0.58	0.68	0.78	0.55	0.64	0.8	0.83	0.81	0.78	0.81	0.78	0.81
Cash	0.77	0.47	0.41	0.82	0.64	-0.99	-0.56	0.81		0.66	0.75	0.7	0.26	0.68	0.51	0.93	0.72	0.44	0.63	0.87	0.69	0.81	0.82	0.82	0.71	0.62
Non Current Assets Total	0.99	0.92	0.91	0.97	1.0	-0.6	-0.81	0.68	0.66		0.72	0.98	0.85	0.89	0.94	0.45	0.96	0.92	1.0	0.94	0.95	0.94	0.92	0.93	0.92	0.83
Non Currrent Assets Other	0.77	0.7	0.64	0.77	0.67	-0.7	-0.81	0.96	0.75	0.72		0.76	0.53	0.85	0.67	0.56	0.82	0.65	0.69	0.8	0.85	0.83	0.81	0.84	0.83	0.8
Cash And Short Term Investments	0.98	0.95	0.94	0.96	0.96	-0.63	-0.89	0.7	0.7	0.98	0.76		0.86	0.85	0.97	0.44	0.99	0.95	0.97	0.95	0.95	0.97	0.97	0.97	0.96	0.79
Net Receivables	0.78	0.96	0.98	0.72	0.83	-0.17	-0.82	0.4	0.26	0.85	0.53	0.86		0.65	0.96	-0.04	0.83	0.98	0.86	0.68	0.79	0.74	0.74	0.75	0.79	0.64
Common Stock Total Equity	0.89	0.79	0.76	0.89	0.88	-0.63	-0.8	0.87	0.68	0.89	0.85	0.85	0.65		0.78	0.51	0.9	0.76	0.87	0.86	0.96	0.89	0.84	0.86	0.89	0.93
Non Current Liabilities Total	0.92	0.99	0.99	0.88	0.92	-0.44	-0.9	0.58	0.51	0.94	0.67	0.97	0.96	0.78		0.22	0.95	1.0	0.95	0.86	0.91	0.9	0.9	0.9	0.92	0.74
Other Current Assets	0.57	0.17	0.11	0.64	0.44	-0.95	-0.24	0.68	0.93	0.45	0.56	0.44	-0.04	0.51	0.22		0.47	0.14	0.41	0.69	0.46	0.59	0.6	0.6	0.45	0.46
Other Stockholder Equity	0.97	0.94	0.92	0.95	0.93	-0.66	-0.94	0.78	0.72	0.96	0.82	0.99	0.83	0.9	0.95	0.47		0.93	0.95	0.95	0.98	0.99	0.98	0.98	0.99	0.85
Total Liab	0.88	1.0	1.0	0.83	0.9	-0.36	-0.9	0.55	0.44	0.92	0.65	0.95	0.98	0.76	1.0	0.14	0.93		0.93	0.81	0.89	0.87	0.86	0.87	0.91	0.73
Property Plant And Equipment Gross	0.98	0.92	0.92	0.96	1.0	-0.57	-0.81	0.64	0.63	1.0	0.69	0.97	0.86	0.87	0.95	0.41	0.95	0.93		0.93	0.94	0.93	0.92	0.92	0.92	0.82
Total Current Assets	0.98	0.82	0.79	0.99	0.92	-0.83	-0.8	0.8	0.87	0.94	0.8	0.95	0.68	0.86	0.86	0.69	0.95	0.81	0.93		0.92	0.98	0.98	0.98	0.93	0.8
Common Stock	0.95	0.91	0.89	0.94	0.93	-0.63	-0.92	0.83	0.69	0.95	0.85	0.95	0.79	0.96	0.91	0.46	0.98	0.89	0.94	0.92		0.97	0.94	0.95	0.98	0.9
Net Tangible Assets	0.98	0.88	0.85	0.97	0.92	-0.76	-0.89	0.81	0.81	0.94	0.83	0.97	0.74	0.89	0.9	0.59	0.99	0.87	0.93	0.98	0.97		0.99	0.99	0.98	0.83
Current Deferred Revenue	0.96	0.88	0.85	0.96	0.9	-0.77	-0.89	0.78	0.82	0.92	0.81	0.97	0.74	0.84	0.9	0.6	0.98	0.86	0.92	0.98	0.94	0.99		1.0	0.97	0.8
Other Assets	0.97	0.89	0.85	0.96	0.9	-0.77	-0.89	0.81	0.82	0.93	0.84	0.97	0.75	0.86	0.9	0.6	0.98	0.87	0.92	0.98	0.95	0.99	1.0		0.97	0.81
Common Stock Shares Outstanding	0.94	0.92	0.9	0.92	0.9	-0.66	-0.96	0.78	0.71	0.92	0.83	0.96	0.79	0.89	0.92	0.45	0.99	0.91	0.92	0.93	0.98	0.98	0.97	0.97		0.84
Property Plant Equipment	0.83	0.76	0.72	0.83	0.82	-0.58	-0.77	0.81	0.62	0.83	0.8	0.79	0.64	0.93	0.74	0.46	0.85	0.73	0.82	0.8	0.9	0.83	0.8	0.81	0.84

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Bit Digital Account Relationship Matchups

Bit Digital fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	6.6M	39.9M	179.9M	100.4M	189.3M	198.8M
Other Current Liab	1.4M	528.3K	2.4M	3.8M	9.8M	10.3M
Total Current Liabilities	1.4M	1.9M	5.0M	7.4M	27.1M	28.4M
Total Stockholder Equity	4.8M	38.0M	171.6M	89.9M	152.7M	160.3M
Property Plant And Equipment Net	683.6K	31.2M	75.6M	23.1M	91.9M	96.5M
Net Debt	(34.5K)	(68.4K)	(42.4M)	(32.7M)	(12.0M)	(12.6M)
Retained Earnings	(11.1M)	(15.7M)	(19.9M)	(131.4M)	(146.9M)	(139.6M)
Cash	34.5K	405.1K	42.4M	32.7M	18.2M	13.4M
Non Current Assets Total	4.6M	31.2M	83.4M	36.0M	107.0M	112.4M
Non Currrent Assets Other	4.0M	3.3M	6.7M	11.1M	10.3M	5.4M
Cash And Short Term Investments	34.5K	6.7M	42.4M	33.3M	64.8M	68.0M
Net Receivables	142.3K	1.9M	97.8K	736.4K	13.9M	14.5M
Common Stock Total Equity	130K	149.0K	154.0K	480.4K	552.5K	580.1K
Liabilities And Stockholders Equity	6.6M	39.9M	179.9M	100.4M	189.3M	198.8M
Other Current Assets	529.6K	12.8K	51.1M	27.9M	3.7M	3.5M
Total Liab	1.5M	1.9M	8.3M	10.5M	36.6M	38.5M
Property Plant And Equipment Gross	683.6K	31.2M	82.2M	32.2M	112.6M	118.2M
Total Current Assets	1.9M	8.7M	96.6M	64.4M	82.3M	86.4M
Accumulated Other Comprehensive Income	336.9K	(27.8K)	(102.8K)	0.0	(1.1M)	(1.0M)
Net Tangible Assets	11.6M	3.8M	38.0M	162.6M	187.0M	196.3M
Other Assets	6.8M	4.0M	1.3M	49.9M	57.3M	60.2M
Common Stock Shares Outstanding	15.2M	30.6M	55.4M	78.6M	87.5M	91.9M
Property Plant Equipment	83.5K	723.8K	29.8M	32.5M	37.4M	39.2M
Net Invested Capital	3.8M	38.0M	162.6M	80.9M	143.7M	150.8M
Net Working Capital	130.7K	6.8M	91.5M	57.0M	56.3M	35.6M
Capital Stock	154.0K	480.4K	9.7M	9.9M	10.1M	5.6M

Pair Trading with Bit Digital

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bit Digital position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bit Digital will appreciate offsetting losses from the drop in the long position's value.

The ability to find closely correlated positions to Bit Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bit Digital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bit Digital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bit Digital to buy it.

The correlation of Bit Digital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bit Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bit Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Bit Digital can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Bit Stock Analysis

When running Bit Digital's price analysis, check to measure Bit Digital's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bit Digital is operating at the current time. Most of Bit Digital's value examination focuses on studying past and present price action to predict the probability of Bit Digital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bit Digital's price. Additionally, you may evaluate how the addition of Bit Digital to your portfolios can decrease your overall portfolio volatility.

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Bit Property Plant Equipment vs Total Current Liabilities Analysis

Property Plant Equipment vs Total Current Liabilities

Property Plant Equipment vs Total Current Liabilities Correlation Analysis

Correlation Coefficient

Property Plant Equipment

Total Current Liabilities

Bit Digital fundamental ratios Correlations

Bit Digital Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Bit Digital fundamental ratios Accounts

Pair Trading with Bit Digital

Additional Tools for Bit Stock Analysis

COMMON DESTINATIONS

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Total Stockholder Equity	+ 1.0	Total Assets
Total Liab	+ 1.0	Other Current Liab
Total Liab	+ 1.0	Total Current Liabilities
Non Current Assets Total	+ 1.0	Property Plant And Equipment Net
Property Plant And Equipment Gross	+ 1.0	Property Plant And Equipment Net
Property Plant And Equipment Gross	+ 1.0	Non Current Assets Total

Cash	- 0.99	Net Debt
Common Stock Shares Outstanding	- 0.96	Retained Earnings
Other Current Assets	- 0.95	Net Debt
Other Stockholder Equity	- 0.94	Retained Earnings
Retained Earnings	- 0.93	Other Current Liab
Common Stock	- 0.92	Retained Earnings