Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 92

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 92
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transaction basis. This facility will be available for the 36 month term subject to the issuance of the EDC (Export and Development Canada)
Performance Security Guaranty in the amount of USD $5.8 million and other related supporting documents. The Company agreed to certain
financial covenants included maintaining on a combined basis between MTL-1 and MTL-2: fixed charge coverage of not less than 1.20:1 and
a ratio of Net Funded Debt to EBITDA of not greater than 4.25:1 and decreasing to 3.50:1 from December 31, 2027.

As
of the reporting date, the related credit facilities have not been authorized for use by the lender, as both parties are in the process
of negotiating revisions to the existing agreement. These negotiations are intended to result in an amendment to the current credit facility,
providing the Company with access to a potential additional non-revolving term loan facility of up to CAD 55 million (approximately $39.5
million). Accordingly, no amounts had been drawn, and no borrowings were available under the credit agreement as at the reporting date.

Cloud
Services 

We
provide specialized cloud services to support generative AI workstreams, especially training and inference, emphasizing cost-effective
utility and tailor-made solutions for each client. We are an authorized NVIDIA Preferred Partner through the NVIDIA Partner Network (“NPN”),
an authorized partner with SuperMicro Computer Inc.®, an authorized Communications Service Provider (“CSP”) with Dell
(through Dell’s exclusive distributor in Iceland, Advania), an official partnership with Hewlett Packard Enterprise and a commercial
relationship with Quanta Computer Inc. (“QCT”). Based on Management’s knowledge of the industry, we are proud to be
among the first service providers to offer H200, B200, and GB200 servers. We provide a high-standard service lease with an Uptime percentage
> 99.5%.

46

We
expect to leverage a global network of data centers for hosting capacity for our GPU business, in many instances, by negotiating with
third-party providers to seamlessly integrate our cloud services at data centers across key regions in Europe, North America and Asia.
Our initial data center partnership through which we lease capacity is at Blönduós Campus, Iceland, offering a world-class
operations team with certified technicians and reliable engineers. The facility has 45kW rack density and 6 MW (gross) total capacity.
We