Bit Digital Finalizes AI Service Contract and Confirms Icelandic Datacenter Location

Bit Digital, a company listed on NASDAQ under the ticker BTBT, proudly announced on Monday the completion of its service agreement with its inaugural customer for its newest division, Bit Digital AI. This marks a major milestone for the company as it diversifies into the artificial intelligence sector.

Details of the AI Service Agreement

According to the finalized terms, Bit Digital will be providing the client with a substantial amount of computing power, leveraging 1,504 GPUs over a span of three years. This service commitment is scheduled to begin in January 2024 and is projected to generate over $35 million in annualized revenue for Bit Digital. This development underscores the company's strategic move into the AI space and its efficient execution of growth efforts.

Investment and Datacenter Infrastructure

In order to meet the contractual obligations, Bit Digital has initiated the purchase of servers from Super Micro Computer. This investment is key to supporting the computational services promised to the AI customer. In addition, Bit Digital has strategically chosen a northern Iceland location for deploying its first fleet of 1,504 GPUs, considering its geostability and absence of seismic activity. The three-year data center capacity agreement secures 2.5 MW of power, buttressing Bit Digital's commitment to delivering steady and reliable AI compute solutions.

AI, contract, datacenter