Bit Digital, Inc (BTBT): M&A transaction — Bit Digital closes $45M purchase of NC building for HPC data center; power ramp from Duke Energy

Bit Digital, Inc

Acquired industrial building in Madison, NC for $45M (down from $53.2M); closed May 20, 2025.
Duke Energy agreed to use commercially reasonable efforts for 24 MW by Sept 2025, 40 MW by Apr 2026, 99 MW within 4 years.
Earnout: $8M if 99 MW secured within 2 years, $5M within 3 years; $200k/MW over 99 MW up to $5M additional.
Property eligible for NC sales/use tax exemptions; local tax incentives under negotiation based on capex and job creation.
Company used cash on hand; plans commercial mortgage financing for the site.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bit Digital, Inc completed an acquisition involving Unifi Manufacturing Inc. (UMI) for Purchase Price of $45 million (closed 2025-05-20).

Action: acquisition
Counterparty: Unifi Manufacturing Inc. (UMI)
Consideration: Purchase Price of $45 million
Closing: 2025-05-20

Exact text from the filing

to waive the Energy Study Contingency which UMI agreed to make in exchange for Buyer eliminating the Energy Study Contingency. The Amendment provided for a Purchase Price of $45 million reduced from $53.2 million. Separately, the Buyer entered into a Letter Agreement for the Purchase of Electric Power with Duke Energy dated May 16, 2025 (the “Capacity

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Source: SEC EDGAR

accession 0001213900-25-047369

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