Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 208

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 208
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, a subsidiary of the Company, entered into
an Assignment and Assumption Agreement with Unifi Manufacturing and Duke Energy Carolinas, LLC, pursuant to which Enovum assumed Unifi’s
rights and obligations under certain electric service agreements for facilities located in North Carolina. Duke Energy consented to the
assignment. Refer to Note 19. Commitments and contingencies for further detail.

On
June 18, 2025, the Company 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 CAD $60 million (approximately USD $43.8 million) of financing. The proceeds
are to be used primarily to refinance the buildout of 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”). The Facility is non-recourse to the Company. The
Company entered into a three-year USD $18.5 million non-revolving lease facility to finance equipment costs and building improvements
to build out the site. 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, the Company entered into a three-year USD $19.6 million 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 of the real estate term loan facility will
be determined at the time of borrowing, or a floating interest rate ranging from RBP plus 0.75% to CORRA (“Canadian Overnight Repo
Rate Average”) plus 250 bps. Payment of principal and interest is due 30 days after drawdown and is repayable in full on the last
day of the three-year term.

The
Revolver is being provided by RBC by way of Letters of Credit and Letters of Guaranty with fees to be determined on a transaction by
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 Guarant