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Bit Digital, Inc. has taken a major step forward in integrating artificial intelligence (AI) into its operations by securing a $700 million agreement with cloud gaming giant Boosteroid. This partnership will see Bit Digital provide up to 50,000 <a href="https://ultramining.com/news/en/kaspa-takes-the-lead-in-gpu-mining-sets-sights-on-transforming-pow-landscape/" rel="noopener noreferrer nofollow">GPU</a> servers over the next five years, significantly expanding its AI and high-performance computing (HPC) services, according to <a href="https://news.bitcoin.com/bit-digital-expands-ai-and-hpc-footprint-signs-700-million-agreement-with-boosteroid/" rel="noopener noreferrer nofollow">Bitcoin.com</a>.
This deal marks a pivotal moment for Bit Digital as it diversifies beyond its core digital asset mining operations, which include Bitcoin mining and Ethereum staking. The move aligns with a broader industry trend where Bitcoin miners are repurposing their infrastructure for AI to offset rising operational costs, especially following the latest Bitcoin halving.
Financially, Bit Digital has reported strong growth, with Q2 2024 revenue reaching $29 million. This increase is largely attributed to its expanding HPC services and continued success in BTC mining, powered by 86% carbon-free energy sources.
The market has responded positively to these developments, with Bit Digital’s stock (BTBT) seeing a significant rise in recent days. The company's strategic shift towards AI and HPC not only enhances its revenue streams but also positions it as a leader in the evolving landscape of digital asset and computational services.

Bit Digital Expands AI and HPC Footprint With $700 Million Boosteroid Deal

Ultramining_Eng

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