Bit Digital Acquires Enovum Data Centers

TL;DR

BTBT just bought Enovum Data Centers to vertically integrate its HPC ops. Big move for infrastructure control.

AI Summary

On October 14, 2024, Bit Digital, Inc. (BTBT) announced the completion of its acquisition of Enovum Data Centers Corp., a company specializing in high-performance computing (HPC) data centers. This strategic move aims to vertically integrate Bit Digital's existing HPC operations with Enovum's fully operational data center infrastructure.

Why It Matters

This acquisition allows Bit Digital to vertically integrate its HPC operations, potentially leading to greater control over infrastructure and improved efficiency in its data center services.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent integration risks and the success of this deal depends on the effective combination of the two companies' operations and financial performance.

Key Players & Entities

• Bit Digital, Inc. (company) — Acquiring company
• BTBT (company) — Ticker symbol for Bit Digital, Inc.
• Enovum Data Centers Corp. (company) — Acquired company
• October 14, 2024 (date) — Date of acquisition announcement

FAQ

Key Financial Figures

• $62,750,000 — -K. The purchase price consisted of CAD $62,750,000 (approximately USD $46 million) of cons
• $46 million — d of CAD $62,750,000 (approximately USD $46 million) of consideration to the Sellers paid i
• $3,137,500 — in full. An escrow in the amount of CAD $3,137,500 was established to support the Sellers&
• $6,805,538 — 62 roll-over shares with a value of CAD $6,805,538 (approximately USD $5,023,000). These s
• $5,023,000 — ue of CAD $6,805,538 (approximately USD $5,023,000). These shares are exchangeable for Bit
• $3.12 — s an aggregate of 41,631 RSUs valued at $3.12 per share were issued under the Company
• $12.0 million — he Montreal 1 data center capped at CAD $12.0 million based on BTBT’s closing share pri
• $5.0 million — enters (excluding Montreal 1), from CAD $5.0 million up to $100 million, valued at 10% of su
• $100 m — ontreal 1), from CAD $5.0 million up to $100 million, valued at 10% of such increases
• $10 million — % of such increases or a maximum of CAD $10 million of RSUs. Enovum’s flagship data
• $2 million — siness on its own. Enovum provided over $2 million unaudited annual revenues per MW with a

Filing Documents

• ea0217827-6k_bitdigital.htm (6-K) — 23KB
• ea021782701ex10-1_bitdigital.htm (EX-10.1) — 678KB
• 0001213900-24-088517.txt ( ) — 702KB

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) By: /s/ Samir Tabar Name: Samir Tabar Title: Chief Executive Officer Date: October 17, 2024 -3-

View Full Filing

View this 6-K filing on SEC EDGAR