NEW
YORK, Feb. 10, 2025 /PRNewswire/ -- Bit Digital,
Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company") announced
today that it has secured a colocation contract with a leading AI
hardware innovator. The agreement will be executed through
WhiteFiber, Inc. ("WhiteFiber"), the Company's newly rebranded HPC
business, which includes cloud services and its data center
platform, Enovum Data Centers Corp. ("Enovum"). Under the
agreement, the Company will provide the client with 5 MW (IT load)
of built-to-suit data center infrastructure for a period of five
years. The contract will be fulfilled at a data center within
Enovum's proprietary development pipeline, with the location to be
announced at a later date. The Company anticipates the contract
will formally commence in mid-2025.
Sam Tabar, CEO of Bit Digital,
commented: "Bit Digital is thrilled to partner with a company at
the forefront of AI innovation in North
America. This agreement underscores their confidence in our
ability to deliver sophisticated, high-performance colocation
solutions tailored for next-generation AI workloads. We are excited
to support this client's unique computing needs with our expertly
designed data center infrastructure, delivering the reliability and
scalability essential for AI innovation."
About Bit Digital
Bit Digital, Inc. is a global platform for high-performance
computing ("HPC") infrastructure and digital asset production
headquartered in New York City.
The Company's HPC business operates under the WhiteFiber Inc.
("WhiteFiber") brand. Our operations are located in the US,
Canada, and Iceland. For additional information, please
contact ir@bit-digital.com or visit our website
at www.bit-digital.com.
Investor Notice
Investing in our securities involves a high degree of risk.
Before making an investment decision, you should carefully consider
the risks, uncertainties and forward-looking statements described
under "Risk Factors" in Item 3.D of our Annual Report on Form 20-F
for the fiscal year ended December 31,
2023 ("Annual Report"). Notwithstanding the fact that Bit
Digital Inc. has not conducted operations in the PRC since
September 30, 2021 we have previously
disclosed under Risk Factors in our Annual Report: "We may be
subject to fines and penalties for any noncompliance with or any
liabilities in our former business in China in a certain period from now on."
Although the statute of limitations for non-compliance by our
former business in the PRC is generally two years and the Company
has been out of the PRC, for more than two years, the Authority may
still find its prior bitcoin mining operations
involved a threat to financial security. In such event, the
two-year period would be extended to five years. If any material
risk was to occur, our business, financial condition or results of
operations would likely suffer. In that event, the value of our
securities could decline and you could lose part or all of your
investment. The risks and uncertainties we describe are not the
only ones facing us. Additional risks not presently known to us or
that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. Future
changes in the network-wide mining difficulty rate or
bitcoin hash rate may also materially affect the
future performance of Bit Digital's production of
bitcoin. Actual operating results will vary depending
on many factors including network difficulty rate, total hash rate
of the network, the operations of our facilities, the status of our
miners, and other factors. See "Safe Harbor Statement" below.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of Bit Digital, Inc., and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects," or
similar expressions, involving known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website at http://www.sec.gov. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
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SOURCE Bit Digital, Inc.
