Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 102

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 102
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-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 not to renew the 10 MW
total contracted capacity at its Plattsburgh, New York site, effective April 5, 2025. After the contracts with Coinmint expired, a portion
of the miners were transferred to other hosting facilities, and the inefficient units were sold.

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 20 MW bitcoin mining system
to be delivered by Bit Digital. Digihost provides services to maintain the premises for a term of two 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 and storage of an up to 20 MW bitcoin mining system
to be delivered by Bit Digital. Digihost also provides services to maintain the premises for a term of two years, automatically renewing
for a period of one (1) year. Digihost shall also be entitled to 30% of the net profit generated by the miners. As of September 30, 2025,
Digihost provided approximately 6.0 MW of capacity for our miners at their facility.

On
May 9, 2023 (“Effective Date”), the Company entered into a Term Loan Facility and Security Agreement (the “Loan Agreement”)
with GreenBlocks. Pursuant to the Loan Agreement, GreenBlocks has requested the Company to extend one or more loans (“Advances”)
under a senior secured term loan facility in an aggregate outstanding principal amount not to exceed $5 million. The interest rate of
the Loan Agreement is 0% and Advances are to be repaid on