Bitcoin miner Bit Digital acquires $53M facility as AI, HPC push continues

Since at least 2023, Bit Digital has been expanding into artificial intelligence and high-performance computing to diversify its revenue beyond crypto mining.

Bitcoin mining company Bit Digital has acquired an industrial building in Madison, North Carolina, upping the ante in a business diversification strategy that includes strategic pivots into AI and high-performance computing. 

Bit Digital agreed to buy the property for $53.2 million through Enovum Data Centers Corp., the company’s wholly owned Canadian subsidiary, regulatory filings show. The investment includes a $2.25 million initial deposit, with $1.2 million being non-refundable. The transaction is expected to close on May 15.

Bit Digital’s regulatory filing was submitted around the same time that it announced a new Tier 3 data center site in Quebec, Canada, which will support the company’s 5 megawatt colocation agreement with AI infrastructure provider Cerebras Systems. 

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