{"id":127398,"date":"2025-04-17T16:15:59","date_gmt":"2025-04-17T16:15:59","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127398"},"modified":"2025-04-17T16:15:59","modified_gmt":"2025-04-17T16:15:59","slug":"bitcoin-miner-bit-digital-acquires-53m-facility-as-ai-hpc-push-continues","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127398","title":{"rendered":"Bitcoin miner Bit Digital acquires $53M facility as AI, HPC push continues"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin mining company Bit Digital has acquired an industrial building in Madison, North Carolina, upping the ante in a business diversification strategy that includes strategic pivots into AI and high-performance computing.\u00a0<br \/>\nBit Digital agreed to buy the property for $53.2 million through Enovum Data Centers Corp., the company\u2019s wholly owned Canadian subsidiary, regulatory filings show. The investment includes a $2.25 million initial deposit, with $1.2 million being non-refundable. The transaction is expected to close on May 15.<br \/>\nBit Digital disclosed the acquisition in a Form 8-K filed with the US Securities and Exchange Commission. Source: SECBit Digital\u2019s regulatory filing was submitted around the same time that it announced a new Tier 3 data center site in Quebec, Canada, which will support the company\u2019s 5 megawatt colocation agreement with AI infrastructure provider Cerebras Systems.\u00a0<br \/>\nThe Quebec facility is being retrofitted with roughly $40 million in upgrades to meet Tier 3 standards \u2014 strict requirements that ensure high reliability for critical systems and continuous operation.<br \/>\nBit Digital CEO Sam Tabar said at the time that the Quebec operation \u201crepresents continued momentum in our strategy to deliver purpose-built AI infrastructure at scale.\u201d<br \/>\nRelated: Auradine raises $153M, debuts business group for AI data centers<br \/>\nMiners under pressure to diversify<br \/>\nFaced with volatile crypto prices and a quadrennial Bitcoin halving cycle that squeezes revenues, several mining firms have leveraged their existing infrastructure to pivot to other data-intensive workloads. Mining companies like Hive Digital say AI data centers offer potentially higher revenue streams than crypto mining.\u00a0<br \/>\nIn the latest sign of economic pain, public Bitcoin miners sold more than 40% of their Bitcoin (BTC) holdings in March, according to data from TheMinerMag publication.\u00a0<br \/>\nPublic miners that can\u2019t keep their costs under control struggle the most in maintaining their Bitcoin operations, placing more pressure on executives to seek out alternative revenue streams.<br \/>\nAn October report by CoinShares suggested that the least profitable miners are more likely to shift gears to AI and other workloads.\u00a0<br \/>\nThe cost per Bitcoin is an important metric for mining companies, which have struggled to remain profitable in a post-halving environment. Source: CoinSharesRelated: SEC says proof-of-work mining does not constitute securities dealing<a href=\"https:\/\/cointelegraph.com\/news\/bit-digital-acquires-facility-north-carolina?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin mining company Bit Digital has acquired an industrial building in Madison, North Carolina, upping the ante in a business diversification strategy that includes strategic pivots into AI&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127398"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127398"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127398\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127398"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}