Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1861

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 6
Chunk 1861
---
 this letter agreement are 28% of the net profit. This new agreement brings the Company’s
total contracted hosting capacity with Coinmint to approximately 46 MW.

On September 5, 2024, the Company received a 90-days
notice of non-renewal of colocation mining services agreement from Coinmint, which informed the Company of its intent not to renew 27
MW of the 36 MW total contracted capacity at its Massena, New York site, effective December 7, 2024. Subsequently, on October 29, 2024,
the Company received an additional 90-days notice of non-renewal of colocation mining services agreement from Coinmint, which informed
the Company of its intent to not renew the remaining 9 MW of the 36 MW total contracted capacity at its Massena, New York site, effective
January 28, 2024. On January 3, 2025, the Company received an additional 90-days notice of non-renewal of colocation mining services agreement
from Coinmint, which informed the Company of its intent to not renew the 10 MW total contracted capacity at its Plattsburgh, New York
site, effective April 5, 2025.

After the contracts with Coinmint expire, we plan
on selling the inefficient units and replacing the hash rate with newer generation machines. By doing so we can replace the lost hash
rate with around 50% less MW. We have already signed contracts for more than enough hosting capacity to replace that hash rate. As of
December 31, 2024, Coinmint provided approximately 18.5 MW of capacity for our miners at their facilities.

In June 2021, we entered into a strategic co-mining
agreement with Digihost Technologies in North America. Pursuant to the terms of the agreement, Digihost provides certain premises to Bit
Digital for the purpose of the operation and storage of a twenty (20) MW bitcoin mining system to be delivered by Bit Digital. Digihost
provides services to maintain the premises for a term of two (2) years. Digihost shall also be entitled to 20% of the net profit generated
by the miners.

In April 2023, we renewed the co-mining agreement
with Digihost, previously executed in June 2021. Pursuant to the terms of the new agreement, Digihost provides certain premises to Bit
Digital for the purpose of the operation