Welcome to our dedicated page for Bit Digital news (Ticker: BTBT), a resource for investors and traders seeking the latest updates and insights on Bit Digital stock.
Bit Digital Inc (BTBT) is a diversified technology enterprise specializing in bitcoin mining, Ethereum staking, and high-performance computing infrastructure solutions. This page serves as the definitive source for all official company announcements, featuring press releases and curated news articles that matter to stakeholders.
Investors and industry observers will find comprehensive coverage of earnings reports, strategic partnerships, and operational developments across BTBT's core business units. The curated selection includes updates on mining capacity expansions, HPC infrastructure milestones, and blockchain network participation initiatives.
Bookmark this resource for direct access to Bit Digital's verified communications. Check regularly for new insights into the company's evolving role in digital asset production and advanced computing services.
Bit Digital (NASDAQ: BTBT) has announced the strategic rebranding of its HPC business to WhiteFiber, Inc. The rebranding encompasses the company's GPU Cloud business and HPC data center business, Enovum Data Centers. WhiteFiber represents a vertically integrated HPC solution combining data center colocation with GPU cloud services, designed for demanding AI workloads.
The company has significantly expanded its customer base from just 1 at the start of 2024 to more than 20 customers currently. The rebranding aims to establish a distinct identity for this venture while addressing the growing demand for data centers and sustainable HPC and AI cloud infrastructure. Bit Digital will continue to operate its bitcoin mining and ETH staking businesses under the original brand name.
Bit Digital (NASDAQ: BTBT) has secured a new agreement to provide 464 Nvidia B200 GPUs to a key customer, replacing a previous agreement for 2,048 H100 GPUs. The contract, valued at approximately $15 million in annualized revenue, involves deploying 58 Nvidia B200 servers in Iceland for an eighteen-month period starting June 30th, 2025.
The agreement includes a two-month prepayment provision, with the customer able to deduct service fees from a previously paid $30 million non-refundable deposit. Bit Digital has ordered the servers for approximately $21 million, planning to finance the purchase with cash and customer deposits while maintaining full ownership of the hardware. The company notes this contract offers improved margins compared to the original plan and continues to explore additional GPU contracts with this customer for 2025.
Bit Digital (BTBT) has released its December 2024 production update, highlighting significant operations across multiple segments. The company's GPU Cloud division generated approximately $4.5 million in unaudited revenue, with 266 servers (2,128 GPUs) actively operating. Treasury holdings included 742.1 BTC and 27,623.9 ETH, valued at $69.3 million and $92.1 million respectively.
The company reported total liquidity of $260.4 million, including $98.6 million in cash and cash equivalents. In HPC operations, Bit Digital acquired a new site in Montreal for CAD $33.5 million for a 5MW Tier 3 data center expansion project. The company secured a significant contract with DNA Holdings Venture Inc. for 576 H200 GPUs, representing potential revenue of $20.2 million over 25 months.
In mining operations, Bit Digital produced 32.4 BTC (down 27.8% from November) with an active hash rate of 1.8 EH/s. The company purchased 941 S21 miners for $3.2 million and sold 4,506 S19 units for $836.6k. Additionally, 21,568 ETH were actively staked, earning a 3.3% APY and generating 60.6 ETH in staking rewards.
Bit Digital (NASDAQ: BTBT), a New York-based global platform for high-performance computing infrastructure and digital asset production, has announced its transition from foreign private issuer to domestic issuer status under U.S. securities regulations, effective January 1, 2025. This strategic change demonstrates the company's dedication to transparency, operational growth, and alignment with U.S. market expectations while simplifying its regulatory compliance framework.
Bit Digital (NASDAQ: BTBT) has executed a Master Service Agreement with DNA AI Compute Fund for 576 Nvidia H200 GPUs over a two-year term. The contract, valued at approximately $20.2 million, is expected to begin in February 2025. Bit Digital will provide 72 H200 servers to be deployed at a data center in Iceland.
The company recently ordered 130 H200 servers (1,040 GPUs) for about $30 million, with the remaining GPUs planned for separate customer contracts. This agreement advances Bit Digital's goal of reaching a $100 million annualized revenue run-rate for its HPC business in early 2025, reflecting their strategy of prioritizing quality revenue opportunities and disciplined capital management.
Bit Digital (NASDAQ: BTBT) has acquired a property in Montreal, Canada for CAD $33.5 million (USD $23.3MM) to develop a 5MW Tier-3 data center. The 160,000 square feet site, known as MTL2, is located in Pointe-Claire, QC, and was previously an encapsulation manufacturing facility. The company plans to invest approximately CAD $27.6 million (USD $19.3MM) in development costs.
The facility will be powered by 100% renewable hydroelectricity and feature advanced cooling technology, including direct-to-chip liquid cooling supporting AI workloads with 150kW rack density. Expected to be operational by May 2025, this acquisition is part of Bit Digital's strategy to expand its HPC data center footprint to 32MW during 2025 and its 288MW proprietary pipeline.
Bit Digital reported its November 2024 performance with $4.3 million in unaudited GPU Cloud revenue. The company operated 266 servers with 2,128 GPUs for AI contracts. Treasury holdings included 813.0 BTC ($78.4M) and 27,563.3 ETH ($102.1M), with total liquidity of $332.5M including cash and equivalents of $151.3M.
The company secured new GPU contracts, including a 512 H200 GPU deal worth $5.0M and a 576 H200 GPU agreement valued at $10.1M. Their HPC data center generated CAD $705.2k in colocation revenue. Digital asset production included 44.9 BTC (14% decrease from October) with a hash rate of 2.51 EH/s. Additionally, 21,568 ETH were staked, earning a 3.4% APY with rewards of 59.9 ETH.
Bit Digital (BTBT) reported Q3 2024 financial results with total revenue of $22.7M, up 96% year-over-year. Revenue included $10.1M from bitcoin mining (down 11%) and $12.2M from HPC services. The company reported total liquidity of $223.6M and shareholders' equity of $315.0M. Adjusted EBITDA was $(21.8)M, including a $21.9M unrealized loss on digital assets. Bitcoin production decreased 59% to 165.4 BTC due to halving impact. The company secured major contracts, including a potential $700M deal with Boosteroid, and acquired Enovum Data Centers for CAD $62.8M, adding 4MW capacity with 280MW expansion potential.
Bit Digital (Nasdaq: BTBT), a New York-based global platform for high-performance computing infrastructure and digital asset production, has scheduled its Third Quarter 2024 financial results announcement for Monday, November 18, 2024, before market opening. The company will host a live webcast and conference call at 10:00 a.m. ET on the same day to discuss the results. Participants can join via conference call by dialing 1-800-289-0462 (passcode: 781205).
Bit Digital (Nasdaq: BTBT) reported its October 2024 operational updates. The company earned $4.3 million in unaudited revenue from its AI contract with 256 active servers. Bitcoin production increased by 1.4% to 52.2 BTC, with an active hash rate of 2.43 EH/s. Treasury holdings included 781.2 BTC and 27,503.4 ETH, valued at $54.8 million and $69.2 million respectively. The company maintained strong liquidity of $203.9 million, including $79.8 million in cash. In proof-of-stake operations, Bit Digital staked 21,568 ETH, earning a 3.4% APY and approximately 62.2 ETH in staking rewards.
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