Bit Digital Secures Colocation Contract with Leading AI Hardware Innovator
New York, NY, Feb. 10, 2025 – Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a leading bitcoin mining company, is pleased to announce a significant milestone in its strategic expansion into the high-performance computing (HPC) market. The Company has secured a colocation contract with a major AI hardware innovator.
The Agreement
The agreement will be executed through WhiteFiber, Inc. (“WhiteFiber”), the Company’s newly rebranded HPC business. WhiteFiber includes cloud services and its data center platform, Enovum Data Centers Corp. (“Enovum”). Under the terms of the contract, the AI hardware innovator will deploy its cutting-edge technology at Enovum’s state-of-the-art data centers.
Why it Matters
This partnership represents a significant step forward for Bit Digital as it seeks to diversify its revenue streams beyond bitcoin mining. The HPC market is expected to grow at a compound annual growth rate (CAGR) of 11.1% between 2022 and 2028, reaching a value of $118.6 billion by 2028, according to a report by Grand View Research, Inc.
By offering colocation services to leading AI hardware innovators, Bit Digital aims to capitalize on this growth trend. The Company’s data centers provide the ideal environment for hosting AI workloads, with high power density and low latency.
Impact on Individuals
For individuals, this partnership could lead to improved AI technologies and applications. AI is used in various sectors, including healthcare, finance, transportation, and education, to name a few. Improved AI technologies could lead to more accurate diagnoses, faster financial transactions, safer transportation, and more personalized education, among other benefits.
Impact on the World
On a larger scale, this partnership could contribute to the advancement of AI research and development. AI is a complex and resource-intensive technology that requires significant computing power. By providing a platform for AI hardware innovators to deploy their technology, Bit Digital is helping to accelerate the pace of innovation in this field.
Conclusion
Bit Digital’s colocation contract with a leading AI hardware innovator marks an exciting development in the Company’s strategic expansion into the HPC market. This partnership is expected to contribute to the growth of the HPC market and the advancement of AI technologies. Individuals may benefit from improved AI applications in various sectors, while the world could see accelerated innovation in this field.
- Bit Digital secures colocation contract with AI hardware innovator
- Partnership executed through WhiteFiber and Enovum
- Expected to contribute to the growth of the HPC market
- Could lead to improved AI technologies and applications
- Contributes to the advancement of AI research and development
