Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1243

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 1243
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 accordance with ASC 205-20.

22. SUBSEQUENT EVENTS

In January 2025, the Company entered into a new
agreement to supply its first customer with an additional 464 GPUs for a period of eighteen months. This new agreement replaces the prior
agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs. The contract represents approximately $15
million of annualized revenue and features a two-month prepayment from the customer.

On January 6, 2025, the Company entered into a
Master Services Agreement (“MSA”) with a minimum purchase commitment of 32 GPUs, along with an associated purchase order,
from a new customer. The purchase order provides for services utilizing a total of 32 H200 GPUs over a minimum of six (6) month period,
representing total revenue of approximately $300,000 for the term. The deployment commenced and revenue generation began on January 8,
2025, using the Company’s existing inventory of H200 GPUs.

In January 2025, the Company entered into a Master
Services Agreement (“MSA”), along with two associated purchase orders, from a new customer. The purchase orders provide for
services utilizing a total of 24 H200 GPUs over a minimum of twelve (12) month period, representing total revenue of approximately $450,000
for the term. The deployment commenced and revenue generation began on January 27, 2025, using the Company’s existing inventory
of H200 GPUs.

On January 30, 2025, the Company entered into
a Master Services Agreement (“MSA”) with a minimum purchase commitment of 40 GPUs, along with an associated purchase order,
from a new customer. The purchase orders provide for services utilizing a total of 40 H200 GPUs over a minimum of twelve (12) month period,
representing total revenue of approximately $750,000 for the term. The deployment commenced and revenue generation began on January 24,
2025, using the Company’s existing inventory of H200 GPUs.

In February 2025, we entered into two hosting
services agreements with A.R.T. Digital Holdings Corp (“KaboomRacks”) for a term of nine (9) months and a term of three (3)
years automatically renewing on an annual basis unless terminated by either party. Pursuant to the terms of the agreement, KaboomRacks
provides maintenance and operation services to Bit Digital to support 19 total MW of capacity. Kab