Bit Digital Secures Québec Site for HPC Backing Cerebras Deal

Bitcoin mining firm Bit Digital (NASDAQ: BTBT) has acquired the rights to a new data center site in Saint-Jérôme, Québec, that will support its high-performance computing (HPC) expansion.

Bit Digital said in a release on Friday that the facility, dubbed “MTL-3,” spans 202,000 square feet across 7.7 acres and is being developed through its WhiteFiber division as part of its ongoing colocation agreement with AI infrastructure company Cerebras Systems.

The site will initially support 5 megawatts of IT load under a five-year colocation deal with Cerebras, announced earlier this year. The agreement also gives Cerebras the right of first refusal on future capacity at the location.

Bit Digital is retrofitting the facility to Tier 3 standards, with development costs projected at about $40 million. The company expects operations to begin by July 2025. The project was secured under a lease-to-own agreement, which includes a fixed-price purchase option exercisable within 12 months. The lease term spans 20 years, with two optional five-year extensions.

The announcement comes as Bit Digital moves to expand its data center footprint in the greater Montréal area, diversifying its operations amid volatile conditions in the cryptocurrency sector, with a growing focus on HPC and AI infrastructure services.

Bit Digital generated a revenue of $108 million in 2024, with Bitcoin mining contributing $58.6 million and the HPC cloud services bringing in $45.7 million.