Company: BTBT
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0001213900-25-057420
Chunk: 0

Company: Bit Digital, Inc
Filing Date: 2025-06-25
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01

Entry into a Material Definitive Agreement.

On June 18, 2025, the wholly-owned
Canadian subsidiaries of Bit Digital Inc.’s (the “ Company”) wholly-owned subsidiary WhiteFiber Inc. (“ WhiteFiber”)
entered into a definitive credit agreement (the “ Facility”) with the Royal Bank of Canada (“ RBC”). The Facility
provides for an aggregate of up to approximately USD $43.9 million of financing (based on the CAD/U. S.$ rate of exchange of CAD1.00/U. S.$0.7308,
as reported by Bloomberg on June 18, 2025). The proceeds are to be used primarily to refinance the buildout of WhiteFiber’s Tier-3
AI data center at 7300 Trans Canada Highway, Pointe-Claire, Quebec (“ MTL-2”) as well as USD $5.8 million of revolving term
financing (the “ Revolver”) (based on the CAD/U. S.$ rate of exchange of CAD1.00/U. S.$0.7308, as reported by Bloomberg on June
18, 2025). The Facility is among RBC and WhiteFiber’s subsidiary Enovum Data Center Corp. and its subsidiaries (collectively “ Enovum”)
and is a non-recourse to WhiteFiber and Bit Digital. Enovum entered into a three-year USD $18.5 million non-revolving lease facility to
finance specific equipment costs, including related installation costs, building improvements and soft costs, and/or sale and leasing
of existing equipment. The lease facility provides for straight-line amortization of six years and capital moratorium of six months after
disbursement is complete. RBC may cancel any unutilized portion of the facility after March 31, 2026. The interest rate is fixed based
on the rental rate determined by RBC for the three-year term of the lease.

As part of the Facility, Enovum
entered into a three-year USD $19.6 million (based on the CAD/U. S.$ rate of exchange of CAD1.00/U. S.$0.7308, as reported by Bloomberg
on June 18, 2025) non-revolving real estate term loan facility. The purpose of this facility is to refinance the Company’s purchase
of MTL-2. The interest rate is to be determined at the time of borrowing, or a floating