Bit Digital offers AI cloud services alongside its Bitcoin mining operations

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact [email protected] or visit our website at www.bit-digital.com.

Bit Digital Inc (NASDAQ:BTBT) continued to grow its cloud services business in the first quarter, with cloud revenue surging 84% year-over-year to $14.8 million.

Cloud revenue growth was driven by new GPU cloud service agreements and expanding partnerships, including deployments with DNA Fund and Boosteroid, the company said on Thursday.

Bit Digital signed multiple cloud contracts during the quarter totaling over 200 NVIDIA H200 GPUs and initiated a strategic partnership with Shadeform, enabling global access to its GPU cloud platform, WhiteFiber.

It also received its first shipment of NVIDIA B200 GPUs, with phased deployment beginning in April.

Bit Digital Inc (NASDAQ:BTBT) said on Friday it has secured rights to a new data center site in Saint-Jérôme, Québec.

The new location will support a previously announced 5MW colocation agreement with Cerebras Systems, a developer of generative AI infrastructure.

Bit Digital Inc (NASDAQ:BTBT) announced that its subsidiary WhiteFiber has struck a partnership with Shadeform, a multi-cloud GPU marketplace, to bring on-demand Nvidia B200 GPUs to customers worldwide, starting in April.

WhiteFiber, known for its next-generation AI/ML-optimized GPU cloud infrastructure, will leverage Shadeform's expansive multi-cloud management capabilities and GPU marketplace to provide organizations and developers in over 100 regions with access to AI infrastructure.

Bit Digital Inc (NASDAQ:BTBT)’s announcement that it has secured the rights to a new data center site in Saint-Jérôme, Québec, in support of its previously disclosed 5MW colocation agreement with generative AI infrastructure provider Cerebras Systems has been welcomed as a positive development by analysts at Noble Capital Markets.

Bit Digital has secured a 202,000-square-foot facility on 7.7 acres under a 20-year lease-to-own deal with a fixed-price purchase option available within 12 months.

The site has future expansion potential pending utility approvals. It is being upgraded to Tier 3 standards, with development costs expected to reach C$55 million, and a targeted operational launch in July 2025.

Bit Digital CEO Sam Tabar joined Steve Darling from Proactive to share the company’s impressive financial results for the third quarter of 2024, revealing total revenue of $22.7 million, a remarkable 96% increase compared to the same period in 2023. The surge in revenue is attributed to the commencement of the company’s high-performance computing (HPC) services business, which complements its established Bitcoin mining operations in the U.S., Canada, and Iceland. Tabar highlighted Bit Digital’s continued expansion in the HPC sector, bolstered by the acquisition of Boosteroid, which has significantly grown its GPU cloud client base.

Additionally, the company acquired Enovum in October, further enhancing its HPC capabilities to meet the growing demand for high-performance computing infrastructure. “Our strategic acquisitions and critical hires, including a new CTO, Head of Revenue, and key engineering and sales talent, have laid a strong foundation for sustainable growth,” Tabar told Proactive. “We remain on track to achieve our $100 million run-rate revenue target for HPC by the end of 2024.”

The company’s focus on building out its HPC business aligns with its broader vision to deliver cutting-edge digital infrastructure solutions. With its expanded capabilities and strategic investments, Bit Digital is well-positioned to scale its operations and capitalize on the rising demand for high-performance computing services. This quarter’s results reaffirm Bit Digital’s commitment to innovation and growth, setting the stage for a robust future in both digital asset production and advanced computing solutions.