Bit Digital Acquires Enovum Data Centers for $46M
Ticker: BTBT · Form: 6-K · Filed: Oct 15, 2024 · CIK: 1710350
| Field | Detail |
|---|---|
| Company | Bit Digital, Inc (BTBT) |
| Form Type | 6-K |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $62.8 million, $46M |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, hpc, datacenters
Related Tickers: BTBT
TL;DR
BTBT just bought Enovum Data Centers for $46M to boost its HPC game.
AI Summary
On October 14, 2024, Bit Digital, Inc. (Nasdaq: BTBT) announced the acquisition of Enovum Data Centers for approximately CAD $62.8 million, which is equivalent to about USD $46 million. Enovum specializes in owning, operating, and developing high-performance computing (HPC) datacenters.
Why It Matters
This acquisition expands Bit Digital's footprint in the high-performance computing sector, potentially enhancing its infrastructure and service offerings.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, valuation, and market reception, which could impact Bit Digital's financial performance.
Key Numbers
- CAD $62.8M — Acquisition Cost (Total consideration for Enovum Data Centers)
- USD $46M — Acquisition Cost (USD) (Equivalent value of the acquisition in US dollars)
Key Players & Entities
- Bit Digital, Inc. (company) — Acquiring company
- Enovum Data Centers (company) — Acquired company
- CAD $62.8 million (dollar_amount) — Total acquisition consideration
- USD $46 million (dollar_amount) — Equivalent acquisition consideration in USD
- October 14, 2024 (date) — Announcement date of acquisition
- Nasdaq: BTBT (company) — Bit Digital's stock ticker
FAQ
What is the primary business of Enovum Data Centers?
Enovum Data Centers is an owner, operator, and developer of high-performance computing (HPC) datacenters.
What was the total consideration for the acquisition of Enovum Data Centers?
The total consideration was approximately CAD $62.8 million.
What is the approximate USD equivalent of the acquisition cost?
The approximate USD equivalent is $46 million.
When did Bit Digital announce this acquisition?
Bit Digital announced the acquisition on October 14, 2024.
What is Bit Digital's stock ticker symbol?
Bit Digital's stock ticker symbol is BTBT on Nasdaq.
Filing Stats: 282 words · 1 min read · ~1 pages · Grade level 13.5 · Accepted 2024-10-15 06:31:18
Key Financial Figures
- $62.8 million — otal consideration of approximately CAD $62.8 million (approximately USD $46MM). Exhibit Ind
- $46M — ly CAD $62.8 million (approximately USD $46MM). Exhibit Index A copy of an invest
Filing Documents
- ea0217122-6k_bitdigital.htm (6-K) — 11KB
- ea021712201ex99-1_bitdigital.htm (EX-99.1) — 21KB
- ea021712201ex99-2_bitdigital.htm (EX-99.2) — 17KB
- ex99-1_001.jpg (GRAPHIC) — 255KB
- ex99-1_002.jpg (GRAPHIC) — 462KB
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- ex99-1_011.jpg (GRAPHIC) — 290KB
- ex99-1_012.jpg (GRAPHIC) — 262KB
- ex99-1_013.jpg (GRAPHIC) — 227KB
- ex99-1_014.jpg (GRAPHIC) — 117KB
- ex99-2_001.jpg (GRAPHIC) — 3KB
- 0001213900-24-087434.txt ( ) — 5385KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Bit Digital, Inc. (Registrant) Date: October 14, 2024 By: /s/ Samir Tabar Name: Samir Tabar Title: Chief Executive Officer -2-