Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 70

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 70
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 Amendment with Coinmint pursuant to which Coinmint agreed to provide the Company with up to ten (10) MW of additional
mining capacity to energize the Company’s mining equipment at Coinmint’s hosting facility in Massena, New York. The agreement
was for one (1) year automatically renewing for three (3) months unless terminated by either party on at least ninety (90) days prior
written notice. The performance fees under this letter agreement are 33% of the net profit. This new agreement brought the Company’s
total contracted hosting capacity with Coinmint to approximately 40 MW.

On January 26, 2024, the Company entered into
a letter agreement and MMSA Amendment with Coinmint pursuant to which Coinmint agreed to provide the Company with up to six (6) MW of
additional mining capacity to energize the Company’s mining equipment at Coinmint’s hosting facility in Massena, New York.
The agreement was for one (1) year automatically renewing for three (3) months unless terminated by either party on at least ninety (90)
days prior written notice. The performance fees under this letter agreement are 28% of the net profit. This agreement brought the Company’s
total contracted hosting capacity with Coinmint to approximately 46 MW.

On September 5, 2024, the Company received a 90-days
notice of non-renewal of colocation mining services agreement from Coinmint, which informed the Company of its intent not to renew 27
MW of the 36 MW total contracted capacity at its Massena, New York site, effective December 7, 2024. Subsequently, on October 29, 2024,
the Company received an additional 90-days notice of non-renewal of colocation mining services agreement from Coinmint, which informed
the Company of its intent to not renew the remaining 9 MW of the 36 MW total contracted capacity at its Massena, New York site, effective
January 28, 2024. On January 3, 2025, the Company received an additional 90-days notice of non-renewal of colocation mining services agreement
from Coinmint, which informed the Company of its intent not to renew the 10 MW total contracted capacity at its Plattsburgh, New York
site, effective April 5, 2025. After the contracts with Coinmint expired, a portion of the miners were transferred to other hosting facilities,
and the inefficient units were sold