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.

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