Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 133

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 133
---
 earning
fees in November 2024. The MSA provides Boosteroid with the option to expand in increments of 100 servers, up to 50,000 servers, representing
a potential contract value of approximately $700 million over the five-year term assuming Boosteroid utilizes the GPUs and services at
full capacity for the duration of the contract. Expansion depends upon the internal development roadmap of Boosteroid, Boosteroid has
full discretion to decide when and the quantity to pursue separate source orders (for GPU servers) under the MSA. Additional orders for
701 GPUs were executed in March 2025, representing approximately $10.3 million in contracted value over a five year
term.

On November 6, 2024, we entered into a Master Services Agreement (“MSA”)
with a minimum purchase commitment of 16 GPUs, along with an associated purchase order, from a new customer. The purchase order provides
for services utilizing a total of 16 H200 GPUs over a minimum of a six (6) month period, representing total revenue of approximately $320,000
for the term. The deployment commenced and revenue generation began on November 7, 2024, using the Company’s existing inventory
of H200 GPUs.

35

On November 14, 2024, we entered into a Terms
of Supply and Service Level Agreement (together, the “Agreement”) and an Order Form with a new customer. The order form provides
for services utilizing a total of 64 H200 GPUs on a month-to-month basis, which either party may terminate upon at least 14 days’
written notice prior to any renewal date. It represents annual revenue of approximately $1.2 million. The deployment commenced and revenue
generation began on November 15, 2024, using the Company’s existing inventory of H200 GPUs.

On December 30, 2024, we 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, an AI Compute Fund managed by DNA Holdings Venture Inc.(“DNA Fund”). The purchase order provides for services
utilizing a total of 576 H200 GPUs over a twenty-five month period, terminable by either party upon at least 90 days’ written notice
prior to any renewal date. It represents an aggregate revenue opportunity of approximately $20.2 million. Concurrently, we placed a purchase
order for 130 H200 servers for