Bit Digital, Announces Upsized Customer Contract For Bit Digital AI; Contract Value For Aggregate Of 2,048 GPUs Worth Over $50M Of Annualized Revenue; Company Placed Purchase Order Of 64 Servers
Portfolio Pulse from Benzinga Newsdesk
Bit Digital has expanded a customer contract for its AI division, now worth over $50M in annual revenue for 2,048 GPUs. To meet this demand, the company ordered 64 servers from Super Micro Computer, Inc., containing Nvidia HGX H100 GPUs, to be delivered by January 2024 and deployed in Iceland. Additionally, Bit Digital has entered a sale-leaseback agreement for 96 AI servers to finance this growth.
January 10, 2024 | 1:33 pm
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POSITIVE IMPACT
Bit Digital's upsized AI contract could significantly boost annual revenue, with a positive impact expected from the sale-leaseback financing agreement.
The upsized contract directly contributes to Bit Digital's revenue, indicating strong demand for its AI services. The sale-leaseback agreement provides financial flexibility, likely to be viewed positively by investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia's GPUs are central to the servers ordered by Bit Digital from Super Micro, potentially boosting Nvidia's sales.
The inclusion of Nvidia HGX H100 GPUs in the servers ordered by Bit Digital suggests continued demand for Nvidia's products, which could positively impact Nvidia's sales figures.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Super Micro Computer, Inc. receives an order for 64 servers from Bit Digital, which may have a positive impact on its short-term revenue.
The order from Bit Digital for 64 servers is a direct sale for Super Micro, likely to increase its short-term revenue and indicating its competitive position in the server market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70