Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 81

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 81
---
 GPUs, along with an associated purchase order, from a
new customer. The purchase order provides for services utilizing a total of 16 H200 GPUs over a minimum of a six month period, representing
total contracted value of approximately $160,000 for the term. The deployment commenced on November 7, 2024, using the Company’s
existing inventory of H200 GPUs. The service under the purchase order concluded in May 2025. Between May and August 2025, the Company
signed four additional agreements on a month-to-month basis for a total of 64 H200 GPUs.

On November 14, 2024, we entered into a Terms
of Supply and Service Level Agreement (together, the “Agreement”) and an Order Form with a new customer. The order form provides
for services utilizing a total of 64 H200 GPUs on a month-to-month basis, which either party may terminate upon at least 14 days’
written notice prior to any renewal date. It represents annual revenue of approximately $1.2 million. The deployment commenced and revenue
generation began on November 15, 2024, using the Company’s existing inventory of H200 GPUs. The service under the purchase order
concluded in December 2024.

On December 30, 2024, we entered into a
                                                                                              Master Services Agreement (“MSA”) with a minimum purchase commitment of 32 GPUs, along with an associated purchase
                                                                                              order, from a new customer, an AI Compute Fund managed by DNA Holdings Venture Inc. (“DNA Fund”). The purchase order
                                                                                              provides for services utilizing a total of 576 H200 GPUs over a twenty-five month period and terminable by either party upon at
                                                                                              least 90 days’ written notice prior to any renewal date. It represents an aggregate revenue opportunity of approximately $20.2
                                                                                              million. Concurrently, we placed a purchase order for 130 H200 servers for approximately $30 million. The deployment commenced in
                                                                                              February 2025.

In April 2025, the Company signed two additional
cloud services agreements with DNA Fund. The first agreement includes 104 NVIDIA H200 GPUs under a 23-month term and was deployed in May
2025. The second agreement includes 512 H200 GPUs under a 24-month term and was deployed in July 2025. With these additions, DNA Fund’s
total contracted deployment increased to 1,192 GPUs. Combined, the agreements represent