Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1427

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1427
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 annualized revenue and features a two-month prepayment from the customer.

On January 6, 2025, the Company entered into a
Master Services Agreement (“MSA”) with a minimum purchase commitment of 32 GPUs, along with an associated purchase order,
from a new customer. The purchase order provides for services utilizing a total of 32 H200 GPUs over a minimum of six (6) month period,
representing total revenue of approximately $300,000 for the term. The deployment commenced and revenue generation began on January 8,
2025, using the Company’s existing inventory of H200 GPUs.

In January 2025, the Company entered into a Master
Services Agreement (“MSA”), along with two associated purchase orders, from a new customer. The purchase orders provide for
services utilizing a total of 24 H200 GPUs over a minimum of twelve (12) month period, representing total revenue of approximately $450,000
for the term. The deployment commenced and revenue generation began on January 27, 2025, using the Company’s existing inventory
of H200 GPUs.

On January 30, 2025, the Company entered into
a Master Services Agreement (“MSA”) with a minimum purchase commitment of 40 GPUs, along with an associated purchase order,
from a new customer. The purchase orders provide for services utilizing a total of 40 H200 GPUs over a minimum of twelve (12) month period,
representing total revenue of approximately $750,000 for the term. The deployment commenced and revenue generation began on January 24,
2025, using the Company’s existing inventory of H200 GPUs.

In February 2025, we entered into two hosting
services agreements with A.R.T. Digital Holdings Corp (“KaboomRacks”) for a term of nine (9) months and a term of three (3)
years automatically renewing on an annual basis unless terminated by either party. Pursuant to the terms of the agreement, KaboomRacks
provides maintenance and operation services to Bit Digital to support 19 total MW of capacity. KaboomRacks shall also be entitled to between
19.75% to 40% of the net profit generated by the miners. Deployment is expected to begin in the first quarter of 2025.

Subsequent to December 31, 2024, the Company sold
2,829,984 shares of common stock for aggregate proceeds of approximately $9.7 million pursuant to the at-the-market offering agreement
with