Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 211

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 211
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 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. The customer has elected to defer the commencement
date until August 20th, 2025, which is the latest allowable date under the agreement.

On October 9, 2024, we executed a Master Service
Agreement (the “MSA”) with Boosteroid Inc. (“Boosteroid”), a global cloud gaming provider. Following execution
of a binding term sheet with Boosteroid on August 19, 2024, we finalized initial orders of 489 GPUs, projected to generate approximately
$7.9 million in contracted value in the aggregate through November 2029. The GPUs have been delivered to respective data centers across
the U.S. and Europe and began 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. In the third quarter of 2025, the Company finalized additional purchase orders for 302, 120, and 279 GPUs, totaling approximately
$10.4 million in contracted value over a five-year term.

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 approximately $30 million. The deployment commenced in February 2025. In April 2025, the Company signed
two additional cloud services agreements with DNA Fund.