Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 213

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 213
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, 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 25 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
approximately $20.8 million of annualized revenue.

On
January 6, 2025, 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. The purchase order provided for services utilizing a total of 32 H200 GPUs over
a minimum of six month period, representing total revenue of approximately $300,000 for the term. The deployment commenced and revenue
generation began on January 8, 2025, using the Company’s existing inventory of H200 GPUs. The service under the purchase order
concluded in April 2025 following a change in the customer’s ownership, and the customer paid the remaining contract value as an
early termination penalty.

In
January 2025, we entered into a Master Services Agreement (“MSA”), along with two associated purchase orders, from a new
customer. The purchase orders provide for services utilizing a total of 24 H200 GPUs over a minimum 12 month period, representing total
revenue of approximately $450,000 for the term. The deployment commenced and revenue generation began on January 27, 2025, using the
Company’s existing inventory of H200 GPUs. The service under the purchase order concluded in March 2025 after the customer ceased
operations.

On
January 30, 2025, we entered into a Master Services Agreement (“MSA”) with a minimum purchase commitment of 40 GPUs, along
with an associated purchase order, from