Bit Digital (BTBT) to Purchase 10,000 Antminers from Bitmain

October 12, 2021 8:01 AM EDT

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Bit Digital, Inc. (Nasdaq: BTBT) (the "Company" or "Bit Digital"), a bitcoin mining company headquartered in New York, today announced that it has signed agreements with Bitmain Technologies Limited ("Bitmain") to purchase 10,000 Bitcoin mining hardware. The announced purchases are expected to increase Bit Digital's miner fleet hash rate by over 1.0 Exahash ("EH/s").

Bryan Bullett, Bit Digital's CEO, stated: "By contracting for these Bitmain units, we have opened a new channel in our procurement strategy, diversifying our access to miners. While we believe we continue to enjoy differentiated access to the miner spot market, and expect to continue our ongoing spot purchases, our deal with Bitmain is an efficient means to procure a large quantum of new miners on attractive terms. This is key, as we believe that scale is paramount in importance in the bitcoin mining business. We look forward to a productive ongoing customer relationship with Bitmain."

"Bit Digital's purchase of our Antminer products will help solidify the company as one of the key mining businesses in North America," said Irene Gao, Antminer Sales Director of NCSA Region, Bitmain. "The Company's purchase of our miners will assist in promoting their long-term goals and strategy as they continue to enhance their mining operations. We look forward to building a long-standing cooperation with Bit Digital."



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