Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2036

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 2036
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finiBand (IB) or RDMA over Converged Ethernet (“RoCE”).
When combined with cross-data center links, these ensure that training jobs can be distributed without bottlenecks or high latency. By
emphasizing scale, performance, and reliability, we believe that we will be positioned to maximize customer retention while pricing our
services at a premium to those offered by our competitors.

We leverage a global network of data center resources
by partnering with eight third-party data center providers to achieve high autonomy in locations across Europe, Canada, and the U.S. Our
initial HPC data center partnership through which we lease capacity is at BlöndUos Campus, Iceland, offering a world-class operations
team with certified technicians and reliable engineers. The facility has 50kW rack density and 6MW total capacity. Its energy source is
100% renewable energy, mainly from Blanda Hydro PowerStation, the winner of IHA Blue Planet Awards in 2017. In the fourth quarter of 2023,
we secured our first cloud customer through a three-year service agreement to provide services using our advanced AI equipment. In January
2024, the Company announced that its WhiteFiber AI business commenced generating revenue.

Colocation/HPC Data Center Services

We design, develop, and operate HPC data centers,
through which we offer our hosting and colocation services. Our data centers meet the requirements of the Tier-3 standard, including power
redundancy, concurrent maintainability, multiple power feeds, uninterruptible power supply, highly reliable cooling systems, and strict
monitoring and management systems. On October 11, 2024 the Company completed the acquisition of Enovum Data Centers Corp (“Enovum”).
On December 27, 2024, we acquired the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project near Montreal,
Canada.

We use a well-defined set of criteria to select
our data center sites. We actively target sub-20MW sites with proximity to metro areas and partial infrastructure in place, where we are
retrofitting rather than developing greenfield projects. A retrofit entails sourcing and acquiring an existing industrial building with
underutilized, in-place power connectivity. Our average build time for retrofits is six months, which we believe is approximately one-third
to one-half of the industry average development timeline for greenfield projects. We are also developing a proprietary software capability
that will link clusters