Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 176

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 176
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 Company and GreenBlocks entered
the Omnibus Amendment to Loan Documents and Other Agreements (“Omnibus Amendment”). This amendment revised both the Loan Agreement
and the Services Agreement previously entered on May 9, 2023. While the core terms remained consistent, notable modifications pertained
to the facility size and contracted capacity. Specifically, the facility size was increased from $5 million to $6.7 million. Moreover,
GreenBlocks agreed to expand the computation capacity to approximately 10.7 MW. Advances of $6.4 million have been financed by the Company
to GreenBlocks.

In May 2025, we amended the Services Agreement
with Greenblocks, originally executed in May 2023 and previously amended in June 2023. Pursuant to the terms of the amended agreement,
Greenblocks shall provide services to support 8.9 MW of power capacity from March 1, 2025 through April 30, 2025 and 5 MW of computational
capacity starting May 1, 2025 through December 31, 2025. The Company will pay power costs of $0.067 per kilowatt hour and a pod fee of
$10,000 per pod per month, subject to pro rata adjustment if usage falls below 2 MW. All other provisions of the original agreement and
previous appendices remain in effect. The amended terms may be modified by mutual agreement, and either party may terminate with one month’s
notice. As of June 30, 2025, GreenBlocks provided approximately 5.0 MW of capacity for our miners at their facility.

In October 2023, we entered into a strategic co-location
agreement with Soluna Computing, Inc. for a term of one year automatically renewing on a month-to-month basis unless terminated by either
party. Pursuant to the terms of the agreement, Soluna provided certain required mining colocation services at their hosting facility in
Murray, Kentucky to the Company for the purpose of the operation and storage of up to 4.4 MW bitcoin mining system to be delivered by
Bit Digital. Soluna was also entitled to 42.5% of the net profit generated by the miners. This agreement expired at the end of October
2024.

In October 2024, we entered into a co-location
agreement with Soluna SW, Inc. to continue our business relationship. Under this agreement, Soluna provides certain required mining colocation
services to the Company at their hosting