NEW YORK, Dec. 30, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Firm”), a world platform for high-performance computing (“HPC”) infrastructure and digital asset manufacturing headquartered in New York, introduced as we speak that’s has acquired the actual property and constructing for a build-to-suit 5MW Tier-3 knowledge heart growth mission in Montreal, Canada. This acquisition is a part of Bit Digital’s technique to broaden its HPC knowledge heart footprint to 32MW throughout 2025. This web site additionally contains a part of Bit Digital’s 288MW proprietary pipeline introduced earlier this yr.
Bit Digital bought the positioning (“MTL2“) for CAD $33.5 million (roughly USD $23.3MM assuming a CAD/USD alternate charge of 0.70) excluding charges. The acquisition closed on December 27, 2024. Bit Digital initially funded the acquisition with money available and is within the means of securing mortgage financing for each the positioning acquisition and subsequent infrastructure capex.
The Firm expects to spend roughly CAD $27.6 million (approx. USD $19.3MM) to develop the positioning to Tier-3 requirements with an preliminary gross load of 5MW. The location is anticipated to be accomplished and operational by Might 2025.
MTL2, a 160,000 sq. ft web site that was beforehand used as an encapsulation manufacturing facility, is positioned in Pointe-Claire, QC. Bit Digital plans to retrofit the positioning with superior cooling know-how, together with direct-to-chip liquid cooling, which boosts vitality effectivity and helps AI and different high-performance workloads with 150kW rack density. The Firm is collaborating with third events to implement a warmth reject loop to additional improve the sustainability profile of the datacenter. The power will probably be powered by 100% renewable hydroelectricity offered by Hydro-Quebec. Moreover, the positioning presents the potential to broaden, enabling scalable development aligned with market demand.
Sam Tabar, Bit Digital’s CEO, commented: “This web site acquisition marks an vital step ahead in our knowledge heart development plans. This web site is a Class A industrial property that was a former encapsulation manufacturing facility that included premium infrastructure specs. It’s positioned in one of the crucial fascinating business actual property areas in Montreal. By leveraging the present infrastructure, together with over CAD $750 thousand value of superior HVAC gear included within the buy, we’re capable of decrease our improvement prices and speed up our time to market – a key benefit and core tenet of our improvement technique. The event timeline aligns with the calls for of a brand new buyer that intends to fill the capability with new era Nvidia GPUs.
We’re within the means of securing cost-effective mortgage financing for this mission which we intend to announce upon finalization. We consider this may in the end showcase Bit Digital’s capacity to cost-effectively finance its knowledge heart buildout in a non-dilutive method.”
About Bit Digital
Bit Digital, Inc. is a world platform for high-performance computing (“HPC”) infrastructure and digital asset manufacturing headquartered in New York Metropolis. Our bitcoin mining operations are positioned within the US, Canada, and Iceland. For added data, please contact ir@bit-digital.com or go to our web site at www.bit-digital.com.
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