Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1488

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 4
Chunk 1488
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ovum Data Centers Corp (“Enovum”), a Tier-3 HPC data center
platform based in Montreal, Canada. Through Enovum, we lease and operate a 4MW AI data center located in Montreal, Canada (“MTL
1”). MTL 1 is a fully operational Tier-3 data center that is designed for HPC workloads. MTL 1’s full capacity is occupied
by customers under lease agreements with an average duration of approximately 30 months. On December 27, 2024, we announced that we had
acquired the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal (“MTL 2”).
The MTL 2 data center is expected to be completed and operational by June 2025.

In addition to providing highly desirable HPC
data center hosting capacity to our customers, our business model integrates HPC data center infrastructure and cloud service to provide
scalable, high-performance computing solutions for enterprises, research institutions, and AI-driven businesses. Our integrated approach
aligns specialized data center operations with GPU-focused cloud services, addressing the unique requirements of AI and HPC workloads.
These workloads demand greater power density, advanced cooling solutions, and robust bandwidth to handle large-scale data transfers. By
operating our data centers, we believe we can better meet these needs and reduce the complexity associated with procuring power and connectivity
from external vendors. We can also design our facilities to accommodate the higher heat loads generated by modern GPUs, potentially shortening
deployment timelines for customers who require rapid expansion of their compute infrastructure. From a financial standpoint, our vertically
integrated solution allows us to capture additional margin for both of our HPC data center and cloud services businesses, avoiding expenses
that would otherwise be due to third-party providers.

Cloud Services

Our cloud services business provides cutting-edge, bespoke services
involving a sophisticated array of computers and chips, including NVIDIA GPUs, servers, network equipment, and data storage solutions.
We believe we provide our cloud services customers with the highest levels of performance and reliability while offering flexibility to
scale with customer needs. Our cloud services solutions include a proprietary software layer that enables our customers to rapidly and
reliably deploy AI applications with superior performance. We are offering our cloud services initially at a data center maintained by
a third-party colocation provider in Iceland (the “Iceland Data Center”) but have plans to seamlessly integrate our cloud
services at data centers across