Bit Digital Acquires Site In Montreal For Tier-3 Data Center Expansion For C$33.5 Mln

(RTTNews) - Bit Digital, Inc. (BTBT), Monday announced the acquisition of the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal, Canada for C$33.5 million, equivalent to $23.3 million.

The acquisition, closed on December 27, intends to satisfy the demands of a new customer that intends to fill the capacity with new generation Nvidia (NVDA) GPUs.

The New York City-based company estimates an expenditure of C$27.6 million, equal to $19.3 million, for the development of the site to Tier-3 standards with an initial gross load of 5MW. The site is expected to be completed and operational by May 2025.

During the pre-market hours, Bit Digital's stock is moving down 3.47 percent, to $3.07 on the Nasdaq.