Bit Digital, Inc. Secures New B200 GPU Contract with Key Customer

Core Viewpoint - Bit Digital, Inc. has announced a new agreement to provide 464 Nvidia B200 GPUs to a key customer, marking an expansion of its GPU Cloud business and replacing a previous agreement for 2,048 H100 GPUs [1][2]. Group 1: Agreement Details - The new contract involves providing 58 Nvidia B200 servers (464 GPUs) over an eighteen-month period, generating approximately $15 million in annualized revenue for the company [2]. - The agreement includes a two-month prepayment from the customer, who can deduct 100$30 million [2]. - The contract is set to commence on June 30, 2025, with the GPUs to be deployed in Iceland [2]. Group 2: Financial Implications - To fulfill the contract, Bit Digital has ordered 58 Nvidia B200 servers for around $21 million, which are expected to be delivered ahead of the service start date [2]. - The company plans to finance the server purchase using cash and customer deposits while retaining full ownership of the servers [2]. Group 3: Management Commentary - Sam Tabar, CEO of Bit Digital, expressed satisfaction with the agreement, highlighting improved margins compared to the original plan that included a sale-leaseback agreement [3]. - The company aims to explore additional business opportunities with the customer in 2025 while focusing on execution [3].