Bit Digital, Inc. (“Bit Digital” or the “Company”), a digital asset mining company headquartered in New York, is pleased to announce that it has finalized an agreement for 10 megawatts of incremental hosting capacity to power its miners. The hosting facility, located in Plattsburgh, New York, is operated by a subsidiary of Coinmint LLC (“Coinmint”).
This new agreement brings the Company’s total contracted hosting capacity with Coinmint to approximately 30 MW. The agreement features an initial two-year term with automatic three-month renewals. Bit Digital intends to deliver approximately 3,100 miners to the facility, which contemplates the purchase of approximately 2,000 new generation miners to fill the capacity. The Company expects the first tranche of miners to be delivered to the facility and hashing by the end of April 2023, and the second tranche to be delivered and hashing by the end of July 2023.
Sam Tabar, Bit Digital’s CEO, commented: “We are pleased to expand our relationship with a top-tier hosting partner in Coinmint. Our hosting strategy continues to prioritize both geographic and counterparty diversification, while also placing a strong emphasis on cultivating relationships with the most reliable and efficient hosting partners. This agreement marks an important step towards our goal of approximately doubling our active hash rate through the course of 2023. The Coinmint hosting facility also utilizes energy in a zone that is predominantly hydro powered and should advance our goal for our mining operations to become entirely carbon-free.”
About Bit Digital
Bit Digital, Inc. is a sustainability focused generator of digital assets headquartered in New York City. Our mining operations are located in North America. For additional information, please visit our website at www.bit-digital.com.