Bit Digital, Inc. announced that it has finalized an agreement to supply an existing customer with an additional 2,048 GPUs over a three-year term commencing upon deployment. With this agreement, the Company will supply this customer with a total of 4,096 GPUs for the respective three-year periods, amounting to total revenue of approximately $275 million, or $92 million on an annualized basis. To fulfill the contract, the Company has placed a purchase order for 256 servers manufactured by Dell Technologies, an authorized Nvidia OEM, that are equipped with 2,048 Nvidia HGX H1 00 GPUs along with related equipment, which are expected to be delivered to the Company during July 2024.

The servers will be deployed in Iceland at the datacenter where the Company's existing AI servers are located and are expected to begin generating revenue in August 2024.