NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT), an emerging Bitcoin mining company headquartered in New York, announced today a group of hosting partnerships that will expand its operations across North America. Compute North and Link Global Technologies (CNSX: LNK) are the hosting companies that are partnering with Bit Digital. This strategic move will grant Bit Digital the ability to deploy greater Bitcoin mining power to North America.
Prior to the new agreement, Bit Digital hosted 2,100 miners with Compute North. With the updated partnership, the Company will move an additional 3,000 Bitmain S17+ miners with a hashrate of 73 THs per miner during Q2-2021. This expansion is expected to bring the total hash power hosted in the U.S. with Compute North to approximately 326 PHs within Q2.
Additionally, Bit Digital's partnership with Link Global Technologies (CSE:LNK), one of Canada's leading Bitcoin mining hosting providers, will allow the Company to place 1,000 miners on their premises. This deal will be finalized through Bit Digital's in formation Canadian subsidiary.
"Working with the best Bitcoin companies in the industry is key to our North American operations, and we're proud to continue installing bitcoin miners with these exceptional partners," shared Bit Digital interim CEO, Erke Huang. "The partnerships built in 2021 are intended to allow Bit Digital to quickly expand U.S.-based bitcoin production while maintaining the miners' operational performance."
To date, Bit Digital owns 40,865 mining machines and is deploying its miners to North America throughout 2021. As existing miners come online, Bit Digital expects these partnerships to expand even further.
Bit Digital will provide ongoing updates on new developments including Bitcoin production through its global mining operations as they become available.
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This press release may contain certain "forward-looking statements" relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the company does not assume a duty to update these forward-looking statements.
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SOURCE Bit Digital, Inc.