Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 136

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 136
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).
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. 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 early in the fourth quarter of 2025.

On April 10, 2025, we entered into a lease for
a new data center site in Saint-Jerome, Quebec, a suburb of Montreal, MTL 3. The facility spans approximately 202,000 square feet on
7.7 acres and is being developed to support current contracted capacity, with future expansion potential subject to utility approvals.
The transaction was executed under a lease-to-own structure, which includes a fixed-price purchase option exercisable within 12 months.
The lease term is 20 years, with two 5-year extension options. The facility is being retrofitted to Tier-3 standards, with development
costs expected to total approximately CAD $55 million (approximately USD $40MM), and is expected to operational by the end of the fourth
quarter of 2025. MTL 3 will support the previously announced 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