Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 82

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 82
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 approximately $20.8 million of annualized revenue.

On January 6, 2025, 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.
The purchase order provided for services utilizing a total of 32 H200 GPUs over a minimum of six 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. The service under the purchase order concluded in April 2025 following a change in the customer’s
ownership, and the customer paid the remaining contract value as an early termination penalty.

In January 2025, we 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 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. The service under the purchase order concluded in March 2025 after the customer ceased operations.

On January 30, 2025, we 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 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. Between April and July 2025, the Company signed four additional agreements on a month-to-month
basis for a total of 184 H200 GPUs including one purchase order for 32 GPUs that was terminated in August 2025.

46

In March 2025, we entered a strategic partnership
with Shadeform, Inc., the premier multi-cloud GPU marketplaces, to bring on-demand NVIDIA B200 GPUs to customers beginning in May 2025.

In
April 2025, we received our first shipment of NVIDIA GB200 Grace Blackwell Superchip powered NVIDIA GB200 NVL72 system chips, from Quanta