Bit Digital announces agreement with customer for 464 Nvidia B200 GPUs

Bit Digital (BTBT) announced a new agreement with a key customer for 464 Nvidia (NVDA) B200 GPUs, expanding its GPU Cloud business. This new agreement replaces a prior agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs and the Company continues to explore additional GPU contracts with this customer for 2025. Under the terms of the agreement, Bit Digital will provide the customer with 58 Nvidia B200 servers, or 464 GPUs, for a period of eighteen months. The contract represents approximately $15M of annualized revenue for Bit Digital and features a two-month prepayment from the customer. However, the customer may deduct 100% of the service fees from the $30M non-refundable deposit previously paid to the Company. The contract is scheduled to commence on June 30th, 2025, and the GPUs will be deployed in Iceland. To fulfill the contract, Bit Digital has placed an order for 58 Nvidia B200 servers for approximately $21M which are expected to be delivered well in advance of the service commencement date. Bit Digital intends to finance the purchase with cash and customer deposits and intends to retain complete ownership of the servers.