Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 9

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 9
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 liability incorporated and registered in the Cayman Islands, WhiteFiber AI, Inc., a Delaware corporation
and its wholly-owned subsidiaries WhiteFiber HPC, Inc., a Delaware corporation, WhiteFiber Iceland, an Icelandic corporation and Enovum
Data Centers Corp., a Canadian corporation. When we refer to “you,” we mean the holders of the applicable type of securities.

Our Business

Overview

Bit Digital, Inc. or the “Company”,
is a global platform for high performance computing (“HPC”) infrastructure and digital asset platform focused on Ethereum-native
treasury and staking strategies, with headquarters 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.

HPC Business

We are a leading provider of high-performance
computing (“HPC”) data centers and cloud-based HPC graphics processing units (“GPU”) services, which we term cloud
services, for customers such as artificial intelligence (“AI”) and machine learning (“ML”) developers. Our HPC
Tier-3 data centers provide hosting and colocation services and are developed and operated by our wholly-owned subsidiary, Enovum Data
Centers Corp. (“Enovum”). Our cloud services are provided by our WhiteFiber AI, Inc subsidiary. Collectively, we refer to
these offerings as our HPC Business.

On October 11, 2024, we significantly expanded
our HPC data center operations and capabilities by acquiring 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 as of May 31, 2025. 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 in the fourth quarter of 2025 with a one-month delay until we begin to generate revenue.

On April 10, 2025, we entered into