Company: BTBT
Filing Date: 2025-07-14
Form Type: 424B5
Source: 0001213900-25-063777
Chunk: 42

Company: Bit Digital, Inc
Filing Date: 2025-07-14
Form: 424B5
Chunk 42
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 5MW colocation agreement with Cerebras.

For the 12 months ended December 31, 2024, our cloud
service business recognized revenue of $45.7 million.

We believe our HPC business is positioned for significant
growth, driven by the increasing demand for advanced computing and AI services. This planned expansion will involve developing additional
HPC data centers at an accelerating pace and procuring GPUs and other AI equipment. To support this growth, we are in the process of
building an expanded team of leaders and dedicated employees. In addition to the Senior Management Team of Enovum, we have already hired
a Head of Revenue Officer and Go-to-Market (“GTM”), Senior Account Executive, two engineers, Chief Technology Officer (“CTO”)
and Head of Marketing, with plans to further expand our workforce to include experts in technology, operations, and customer support.
This dedicated team will be crucial in executing the Company’s strategic plans and maintaining high service levels as the business
scales.

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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.

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