Bit Digital, Inc. (NASDAQ:BTBT) (“Bit Digital” or the “Company”), a digital asset mining company headquartered in New York, is pleased to announce that it has finalized an agreement for 5 megawatts of incremental hosting capacity to power its miners. The facility is located in Canada and utilizes an energy source that is primarily hydro power operated. The facility currently powers approximately 650 of the Company’s miners and is expected to accommodate 1,500 units over the coming months. The agreement features an initial two-year term with automatic one-year renewals.
Bryan Bullett, Bit Digital’s CEO, commented: “We are pleased to further diversify our hosting portfolio with this primarily hydro powered site. We continue to believe that a diversity of hosting sites mitigates risk and enhances operational efficiency. This new agreement not only advances our goal of becoming entirely carbon-free but does so at an attractive cost that is expected to help reduce our weighted average power cost.”
