Company: BTBT
Filing Date: 2025-06-18
Form Type: S-3/A
Source: 0001213900-25-055565
Chunk: 10

Company: Bit Digital, Inc
Filing Date: 2025-06-18
Form: S-3/A
Chunk 10
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iber Inc., an exempted company with limited liability incorporated and registered in the Cayman Islands, WhiteFiber
AI, Inc., a Delaware corporation and its wholly-owned subsidiaries WhiteFiber HPC, Inc., a Delaware corporation and WhiteFiber Iceland,
an Icelandic corporation and Enovum Data Centers Corp., a Canadian subsidiary of WhiteFiber, Inc. When we refer to “you,”
we mean the holders of the applicable type of securities.

Our Business

Overview

Bit Digital, Inc. or the “Company”,
is a global platform for high performance computing (“HPC”) infrastructure and digital asset production, with headquarters
in New York City. The Company’s HPC business operates under the WhiteFiber Inc. (“WhiteFiber”) brand. Our operations
are located in the US, Canada, and Iceland.

HPC Business

We are a leading provider of high-performance computing
(“HPC”) data centers and cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services,
for customers such as artificial intelligence (“AI”) and machine learning (“ML”) developers. Our HPC Tier-3 data
centers provide hosting and colocation services and are developed and operated by our wholly-owned subsidiary, Enovum. Our cloud services
are provided by our WhiteFiber AI, Inc subsidiary. Collectively, we refer to these offerings as our HPC Business.

On October 11, 2024, we significantly expanded our
HPC data center operations and capabilities by acquiring Enovum Data Centers Corp. (“Enovum”), a Tier-3 HPC data center platform
based in Montreal, Canada. Through Enovum, we lease and operate a 4MW AI data center located in Montreal, Canada (“MTL 1”).
MTL 1 is a fully operational Tier-3 data center that is designed for HPC workloads. MTL 1’s full capacity is occupied by customers
under lease agreements with an average duration of approximately 30 months. On December 27, 2024, we announced that we had acquired the
real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal (“MTL 2”). The MTL 2 data
center is expected to be completed and operational early in the fourth quarter of 2025.

On April 10, 2025, we entered into a lease for
a new data center site in Saint-Jerome, Quebec, a