Bit Digital, Inc. Executes MSA for 576 H200 GPU Deal with DNA AI Compute Fund
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NEW YORK, Dec. 31, 2024 ~ New York, NY - Bit Digital, Inc. (Nasdaq: BTBT) has recently announced a new partnership with DNA Holdings Venture Inc., a leading AI Compute Fund. The two companies have executed a Master Services Agreement (MSA) that includes the supply of 576 Nvidia H200 GPUs over a two-year period. This contract is expected to generate approximately $20.2 million in revenue for Bit Digital and is set to begin in February 2025.

This agreement builds upon a previous term sheet signed and disclosed on November 20, 2024. As per the terms of the deal, Bit Digital will provide the customer with 72 H200 servers, which equates to 576 GPUs, for an initial two-year term. These GPUs are currently on order and awaiting delivery to a third-party data center in Iceland. In addition, Bit Digital has recently placed an order for 130 H200 servers (1,040 GPUs) worth approximately $30 million. The company plans to use these additional GPUs for other customer contracts.

CEO of Bit Digital, Sam Tabar, expressed his excitement about this new partnership stating, "We are thrilled to formalize our partnership with DNA Fund. This strategic collaboration highlights our commitment to providing high-performance computing solutions tailored to our clients' evolving needs." He also added that this contract is a significant step towards achieving their long-term growth objectives.

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Tabar also mentioned that while they expect to reach their goal of $100 million in annualized revenue for their HPC business by early 2025, they have been selective about the deals they pursue. This deliberate strategy prioritizes high-quality revenue opportunities and disciplined capital management as they navigate through a significant chip upgrade cycle.

DNA Holdings Venture Inc., the AI Compute Fund managed by DNA Holdings Venture Inc., aims to lead the next wave of financial innovation by integrating Web 3, cryptocurrency, artificial intelligence, and capital markets seamlessly. Their mission is to create a financial ecosystem that offers cutting-edge fund management, strategic advisory services, and visionary financial solutions. By spearheading this technological and financial convergence, DNA Holdings empowers emerging brands to shape the future of finance and transform the global economy.

Bit Digital, Inc. is a global platform for high-performance computing infrastructure and digital asset production based in New York City. Their bitcoin mining operations are spread across the US, Canada, and Iceland. With this new partnership, Bit Digital is set to strengthen its position as a leader in the HPC market.

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Investing in Bit Digital's securities involves a high level of risk. Before making any investment decisions, potential investors are advised to carefully consider all risks, uncertainties, and factors that may affect their investment. For more information on investing in DNA Funds or for general inquiries about DNA Holdings Venture Inc., please visit their website at www.dna.fund or DNADealDesk.com respectively.

In conclusion, this new partnership between Bit Digital and DNA Holdings Venture Inc. marks an important milestone for both companies as they continue to drive innovation in the HPC market and shape the future of finance through their cutting-edge technologies and solutions. With a strong balance sheet and a robust pipeline of opportunities, Bit Digital remains confident in its ability to achieve sustained growth and maintain its leadership position in the industry.
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