Bit Digital, Inc. Launches New AI Business, Secures Customer Contract Worth Up To $257M, Procures NVIDIA H100 GPUs
Portfolio Pulse from Happy Mohamed
Bit Digital, Inc. (BTBT) has announced the launch of Bit Digital AI, a new business line providing infrastructure for AI workstreams. The company has signed a binding term sheet with a customer for GPU-accelerated workloads, with a contract worth up to $257M. Bit Digital has also agreed to purchase 1,056 NVIDIA HGX H100 GPUs and 132 FusionOne HPC from xFusion Digital Technologies Co., Ltd.
October 23, 2023 | 12:02 pm
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POSITIVE IMPACT
Bit Digital's new AI business and customer contract could significantly boost its revenues and diversify its income streams.
The launch of Bit Digital AI and the secured customer contract could lead to a significant increase in Bit Digital's revenues. The company's decision to diversify its business and enter a market with robust demand and growth expectations could also positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bit Digital's purchase of NVIDIA HGX H100 GPUs could potentially increase NVIDIA's revenues.
Bit Digital's decision to purchase NVIDIA HGX H100 GPUs for its new AI business could lead to an increase in NVIDIA's revenues. This could potentially have a positive impact on NVIDIA's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70