Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 271

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 271
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from increased market demand. This is illustrated by our demonstrated ability to pre-sign end users prior to committing capital for expansions,
both for new data center sites and for GPU server procurement.

77

We are actively engaged in research and development
efforts to enhance our cloud services capabilities for our customers. For example, we are developing integrated software to automate layering
of stacks and self-service portals on top of the cross-data center fabric, allowing our customers to access GPU or CPU nodes on demand—no
matter where they physically reside. This provides significant flexibility as scaling is required to accelerate development of AI applications.
In addition, we are working on advanced interconnect technologies like InfiniBand (IB) or RDMA over Converged Ethernet (“RoCE”).
When combined with cross-data center links, these ensure that training jobs can be distributed without bottlenecks or high latency. By
emphasizing scale, performance, and reliability, we believe that we will be positioned to maximize customer retention while pricing our
services at a premium to those offered by our competitors.

We leverage a global network of data center resources
by partnering with eight third-party data center providers to achieve high autonomy in locations across Europe, Canada, and the U.S. Our
initial HPC data center partnership through which we lease capacity is at BlöndUos Campus, Iceland, offering a world-class operations
team with certified technicians and reliable engineers. The facility has 50kW rack density and 6MW total capacity. Its energy source is
100% renewable energy, mainly from Blanda Hydro PowerStation, the winner of IHA Blue Planet Awards in 2017. In the fourth quarter of 2023,
we secured our first cloud customer through a three-year service agreement to provide services using our advanced AI equipment. In January
2024, the Company announced that its WhiteFiber AI business commenced generating revenue.

Colocation/HPC Data Center Services

We design, develop, and operate HPC data centers,
through which we offer our hosting and colocation services. Our data centers meet the requirements of the Tier-3 standard, including power
redundancy, concurrent maintainability, multiple power feeds, uninterruptible power supply, highly reliable cooling systems, and strict
monitoring and management systems. On October 11, 2024 the Company completed the acquisition of Enovum Data Centers Corp (“Enovum”).
On December 27, 2024, we acquired the real estate and building for a