Bit Digital Inc (NASDAQ: BTBT) and Digihost Technology Inc (OTCMKTS: HSSHF) arrived at a second tactical co-mining contract.
Contract to see a surge in hashrate between the two companies of around 2.4 EH
According to the expressions of the Contract, Digihost will offer definite properties to Bit Digital for the set-up of a 100 MW Bitcoin withdrawal scheme to be supplied by Bit Digital for two years. The extended partnership is projected to increase the hashrate of around 2 EH between the businesses. The agreement will also see a complete surge in hashrate between the two companies of around 2.4 EH.
Digihost shall be providing the power and management facilities for the set-up of the Miners. Bit Digital after paying Digihost for the power, will join the latter in a profit-sharing formula that was decided by the two companies earlier. As a result, it is anticipated that the miners will be transported and connected beginning January 2022.
Bryan Bullett, Bit Digital’s CEO, indicated: “By signing this contract, we consider that Bit Digital has fortified power to complete the relocation of our present fleet to North America in full, and added volume to house projected miner acquisitions. As beforehand announced, we forestall noteworthy acquisition action in the coming months, due to spot market displacement in China and our exclusive admission to that market. This contract with Digihost safeguards a key constituent of triggering this opening, and is anticipated to permit quick placement of newly acquired miners. We are pleased to construct on our present teamwork with Digihost, and look forward to sustained achievements together.”
Michel Amar, Digihost’s CEO, stated: “We are keen to build and broaden our relationship with Bit Digital, that is based on current Bitcoin metrics, and is estimated to deliver notable consequences through the complete surge in hashrate of 2.4 EH between the two companies. Our commercial approach endures to be development through the enlargement of our mining substructure, vertical incorporation of green foundations of energy and strategic collaborations with foremost businesses in the blockchain subdivision, while determined to uphold our emphasis on being an industry principal ESG business.”
Bit Digital opens the Miami office
In other news, Bit Digital announced that it leased workplace space in Miami Beach, Florida. Its Miami Beach workplace is Bit Digital’s additional US workplace setting. The office will be managed and supervised by Bit Digital’s current US organization side.