Bit Digital Expands Operations with New Data Center in Québec
Bit Digital, Inc., a publicly traded company known for its bitcoin mining operations, has finalized a lease-to-own deal for a substantial property in Saint-Jérôme, Québec. This site, covering 202,000 square feet, is set to become a Tier 3 data center designed to accommodate a 5MW colocation agreement with Cerebras Systems, a company specializing in artificial intelligence infrastructure.
The development is part of Bit Digital’s strategy to expand its capabilities in high-performance computing (HPC) and AI, reflecting a notable trend within the cryptocurrency sector as firms seek to diversify their operations beyond traditional mining.
Project Details and Financial Aspects
Scheduled to begin operations by July 2025, the project will incur retrofitting costs of about CAD $55 million, or approximately $40 million USD. The property, known as MTL-3, spans 7.7 acres and will offer services under a 20-year lease contract boasting two potential five-year extensions. Oversight of the project will fall to Bit Digital’s subsidiary, Whitefiber, which will also have the option to purchase the property outright within the first year of the agreement.
An important aspect of this arrangement is the right of first refusal granted to Cerebras for additional capacity at the site, as detailed in a five-year colocation contract established in February of this year.
Strategic Vision and Future Prospects
Bit Digital’s CEO, Sam Tabar, emphasized that this initiative is integral to the organization’s mission to enhance AI infrastructure. He stated,
“This milestone represents continued momentum in our strategy to deliver purpose-built AI infrastructure at scale.”
With the Montréal area rapidly evolving into a center for AI advancements, the new facility is strategically positioned to cater to the increasing demand for such technologies.
Headquartered in New York, Bit Digital is not only involved in bitcoin mining but is also expanding its HPC infrastructure across North America, including operations in Canada and Iceland. This move indicates the company’s commitment to staying ahead in the competitive market of artificial intelligence and HPC development.
