Bit Digital in a new Bitcoin co-operation agreement with Digihost technology

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By Chris Wack

Bit Digital Inc. said that it and Digihost Technology Inc. have entered into a second strategic co-mining agreement whereby Digihost will provide certain premises to Bit Digital for the operation of a 100 megawatt bitcoin mining system for two years.

Bit Digital said the expanded collaboration is expected to result in a further increase in the hashrate of 2 exahashs between the companies, and a total increase in the hashrate between the two companies of 2.4 PE, including the initial collaboration agreement that had previously been reported on June 10.

Digihost would provide food and management services for the exploitation of minors. In return for these services, after paying Digihost a competitive electricity rate, Digihost and Bit Digital would participate in a profit-sharing agreement based on a fixed distribution formula. It is expected that the miners will be delivered and installed from January 2022.

Shares of Bit Digital were up 16%, to $ 4.93, in pre-market trading.

Write to Chris Wack at [email protected]

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