Bit Digital Expands Hosting Capacity with Soluna Agreement

Bit Digital Expands Hosting Capacity

Bit Digital, Inc., a leader in sustainable digital infrastructure for digital assets and cloud computing, has reached an important milestone. The company has secured an agreement with Soluna Computing, Inc. for an additional 4.4 megawatts of hosting capacity at Project Sophie in Kentucky. This strategic move aims to power Bit Digital's miners for an initial term of twelve months.

Strategic Partnership with Soluna

The agreement with Soluna allows Bit Digital to utilize existing miners from its fleet, which are expected to start hashing by early November 2023. This collaboration marks a significant step in diversifying Bit Digital's hosting portfolio both geographically and across various counterparties. Such diversification is crucial in the dynamic digital assets industry, ensuring stability and resilience.

Enhanced Operational Flexibility

Bit Digital's CEO highlighted the benefits of this contract, emphasizing the enhanced operational flexibility it provides. The agreement is designed to offer adaptability in anticipation of the upcoming 'halving' scheduled for 2024. This event, which reduces the reward for mining new blocks, necessitates strategic planning and resource allocation to maintain profitability and efficiency.

Focus on Sustainability and Growth

Bit Digital continues to prioritize sustainability in its operations, aligning with broader environmental goals. By expanding its hosting capacity and forming strategic partnerships, the company is well-positioned to capitalize on growth opportunities within the digital assets sector. This forward-thinking approach ensures Bit Digital remains at the forefront of the industry, providing robust and flexible solutions for digital infrastructure needs.