WhiteFiber Inc., a Nasdaq-listed subsidiary of Bit Digital (BTBT), acquired on May 20 a 96-acre former textile factory in Madison, North Carolina, for $45 million in cash, with contingent payments that could bring the total price to approximately $60 million. The company plans to transform this site into a high-performance computing and artificial intelligence campus, with an initial target of 24 MW of operational capacity by late 2025 or early 2026, and potential to scale up to 200 MW. A ten-year colocation agreement with Nscale, valued at approximately $865 million and covering 40 MW, has already been secured, providing near-term financial visibility. This acquisition is part of Bit Digital’s strategy to pivot away from proof-of-work Bitcoin mining toward AI infrastructure, with a compressed deployment timeline thanks to converting existing industrial sites rather than building from scratch.
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