Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 84

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 84
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 typically result in delivery within a relatively
short time.

We have signed service agreements with third-party
hosting partners in North America and Iceland. These partners operate specialized mining data centers, where they install and operate
the miners and provide IT consulting, maintenance, and repair work on site for us. Our mining facilities in New York are maintained by
Digihost Technologies Inc. (“Digihost”). Our mining facilities in Texas are maintained by Dory Creek, LLC, a subsidiary of
Bitdeer Technologies Group (“Bitdeer”) and A.R.T. Digital Holdings Corp (“KaboomRacks”). Soluna Computing, Inc
and DVSL ComputeCo, LLC (collectively “Soluna”) maintained our mining facilities in Kentucky and Texas. Our mining facility
in Iceland is maintained by GreenBlocks ehf, an Icelandic private limited company (“GreenBlocks”). We have relocated our miners
from our mining facility in Canada maintained by Blockbreakers Inc. (“Blockbreakers”) to Soluna and Coinmint after our service
agreement expired in November 2024.

From time to time, the Company may change partnerships
with hosting facilities to recalibrate its bitcoin mining operations. These terminations are strategic, targeting reduced operational
costs, enhanced energy efficiency for a smaller carbon footprint, increased flexibility in operational control, and minimized geopolitical
risks. While a short-term decrease in mining output might occur, we expect these changes to yield long-term operational improvements.

We are a sustainability-focused digital asset
mining company. On June 24, 2021, we signed the Crypto Climate Accord, a private sector-led initiative that aims to decarbonize the crypto
and blockchain sectors. On December 7, 2021, we became a member of the Bitcoin Mining Council (“BMC”), joining MicroStrategy
and other founding members to promote transparency, share best practices, and educate the public on the benefits of bitcoin and bitcoin
mining.

47

Miner Deployments

During the three months ended June 30, 2025, we
continued to work with our hosting partners to deploy our miners in North America and Iceland.

During the first quarter of 2025, the Company
deployed an additional 1,441 miners at one of Soluna’s hosting facilities.

During the second quarter of 2025, the Company received an additional
1,720 miners, which were deployed in July 2025.

As of June 30, 2025, the Company’s active
hash rate totals approximately