Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1494

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 4
Chunk 1494
---
breakers to approximately 9 MW. Our service agreement with Blockbreakers expired in November 2024. A portion
of the miners were transferred to other hosting facilities, and the inefficient units were sold.

On June 7, 2022, we entered into a Master Mining
Services Agreement (the “MMSA”) with Coinmint LLC, pursuant to which Coinmint will provide the required mining colocation
services for a one-year period automatically renewing for three-month periods unless earlier terminated. The Company will pay Coinmint
electricity costs, plus operating costs required to operate the Company’s mining equipment, as well as a performance fee equal to
27.5% of the net profit, subject to a ten percent (10%) reduction if Coinmint fails to provide uptime of ninety-eight (98%) percent or
better for any period. We are not privy to the emissions rate at the Coinmint facility or at any other hosting facility. However, the
Coinmint facility operates in an upstate New York region that reportedly utilizes power that is 99% emissions-free, as determined based
on the 2023 Load & Capacity Data Report published by the New York Independent System Operator, Inc. (“NYISO”).

80

On April 5, 2023, the Company entered into a letter
agreement and MMSA 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 Plattsburgh, New York. The agreement
is for two (2) years 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 range from 30% to 33% of the net profit. This new agreement brings the
Company’s total contracted hosting capacity with Coinmint to approximately 30 MW at this facility.

On April 27, 2023, the Company entered into a
letter agreement and MMSA 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
is for one (1) year automatically renewing for three (3) months unless terminated by either party on at least ninety (90) days prior written