Caixin News Agency, October 18th - Bit Digital (BTBT) announced that it completed the acquisition of Enovum Data Centers Corp. on October 14, 2024. This transaction integrates the high-performance computing (HPC) operations of BitDigital with an existing fully operational 4MW Tier-3 data center located in Montreal, Canada. Enovum has a diverse customer base and offers expansion opportunities, enhancing the company's service capabilities, including data hosting and on-demand computing.
The total price of this acquisition is 62.75 million Canadian dollars (approximately 46 million US dollars), and payment methods include cash and stock exchange. After the completion of the transaction, Enovum's senior management will continue to serve and receive a total of 1.62 million convertible shares worth CAD 6.81 million (approximately USD 5.02 million). In addition, the management will also receive incentive equity compensation based on the company's performance.
Enovum's flagship data center Montreal 1 is currently 100% leased and is expected to generate approximately CAD 10 million in revenue by 2025. The acquisition is expected to provide more integrated services for Bit Digital's GPU as a Service business, helping the company achieve growth in the rapidly developing HPC infrastructure sector.