Bit Digital, Inc. (Nasdaq: BTBT), a global platform for high-performance computing (HPC) infrastructure and digital asset production, has signed a Master Services Agreement (MSA) with the DNA AI Compute Fund managed by DNA Holdings Venture Inc. This contract involves the provision of 576 Nvidia H200 GPUs over a two-year period, representing a revenue opportunity of approximately $20.2 million for the company.
The contract is set to commence in February 2025 and will be executed through 72 H200 servers that will house the GPUs, which will be hosted in a data centerA data center or data processing center (DPC) … in Iceland. This operation is part of a larger order of 130 H200 servers placed by Bit Digital in early December, valued at $30 million.
Sam Tabar, CEO of Bit Digital, emphasized the importance of this strategic alliance:
“This agreement reinforces our commitment to high-performance computing solutions tailored to the evolving needs of our clients. Our strategy of prioritizing high-quality revenue and disciplined capital management positions us favorably in the HPC market.”
Sustained Growth and Strategic Expansion
Bit Digital aims to achieve an annualized revenue rate of $100 million in its high-performance computing segment by early 2025. This goal is supported by a selective focus on clients and contractual terms that mitigate risks and offer financial flexibility for data center expansion and investment in next-generation GPUs.
With mining operations in the United States, Canada, and Iceland, Bit Digital has demonstrated a proactive approach to emerging markets and key clients in the convergence of advanced technologies such as artificial intelligence and cryptocurrencies.
About DNA Fund and Its Mission
DNA Holdings Venture Inc. leads initiatives in financial innovation through the integration of Web 3, cryptocurrencies, artificial intelligence, and capital markets. With its DNA AI Compute Fund, the company seeks to transform the global financial landscape, offering visionary solutions in fund management and strategic advisory.
Perspectives on the HPC Sector and Digital Mining
The contract with DNA Fund marks a milestone for Bit Digital in a highly competitive market, where technological upgrades and customer diversification are essential. The investment in advanced GPUs such as the Nvidia H200 positions the company at the forefront of high-performance computing and digital production, solidifying its leadership in an ever-evolving sector.