Company: BTBT
Filing Date: 2025-04-30
Form Type: S-3
Source: 0001213900-25-037166
Chunk: 59

Company: Bit Digital, Inc
Filing Date: 2025-04-30
Form: S-3
Chunk 59
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 requirements of AI and HPC workloads.
These workloads demand greater power density, advanced cooling solutions, and robust bandwidth to handle large-scale data transfers. By
operating our data centers, we believe we can better meet these needs and reduce the complexity associated with procuring power and connectivity
from external vendors. We can also design our facilities to accommodate the higher heat loads generated by modern GPUs, potentially shortening
deployment timelines for customers who require rapid expansion of their compute infrastructure. From a financial standpoint, our vertically
integrated solution allows us to capture additional margin for both of our HPC data center and cloud services businesses, avoiding expenses
that would otherwise be due to third-party providers.

Our cloud services business provides cutting-edge,
bespoke services involving a sophisticated array of computers and chips, including NVIDIA GPUs, servers, network equipment, and data storage
solutions. We believe we provide our cloud services customers with the highest levels of performance and reliability while offering flexibility
to scale with customer needs. Our cloud services solutions include a proprietary software layer that enables our customers to rapidly
and reliably deploy AI applications with superior performance. We are offering our cloud services initially at a data center maintained
by a third-party colocation provider in Iceland (the “Iceland Data Center”) but have plans to seamlessly integrate our cloud
services at data centers across key regions in Europe and North America. In the fourth quarter of 2023, we secured our first cloud customer
through a three-year service agreement to provide services using our advanced AI equipment. We believe that both of our businesses are
poised to benefit from increased market demand. This is illustrated by our demonstrated ability to pre-sign end users prior to committing
capital for expansions, both for new data center sites and for GPU server procurement.

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