Bit Digital (BTBT) Expands Mining Fleet

Bit Digital, Inc. (Nasdaq: BTBT) is pleased to announce that it has finalized an agreement for 6 megawatts of incremental hosting capacity to power its miners. The hosting facility, located in Massena, New York, is operated by a subsidiary of Coinmint LLC ("Coinmint").

This new agreement brings the Company's total contracted hosting capacity with Coinmint to approximately 46 MW. The agreement features an initial one-year term with automatic three-month renewals. Bit Digital will fill the capacity with approximately 2,340 S19k Pro mining units that were recently purchased for approximately $3.4 million, or approximately $13/TH. These mining units represent approximately 260PH/s with an average efficiency of 23 J/TH. The Company expects the miners to be delivered to the facility and hashing by the end of February 2024.

Sam Tabar, Bit Digital's CEO, commented: "We are pleased to further expand our relationship with a top-tier hosting partner in Coinmint. This agreement represents an important step towards achieving our goal of doubling our active mining fleet to approximately 6.0EH/s during 2024. We plan to achieve this growth target at a measured pace that enables opportunistic procurement decisions with the goal of enhancing both our scale and fleet efficiency."

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