While most cryptocurrency companies have remained singularly focused on blockchain operations, Bit Digital has charted a dramatically different course by expanding into artificial intelligence infrastructure. The company recently secured a massive 202,000 square-foot Tier-3 data center in Saint-Jérôme, Québec, marking a pivotal shift in its business strategy.
This isn’t just a minor pivot—Bit Digital is going all-in on AI. The firm purchased 1,056 NVIDIA HGX H100 GPUs, the computational equivalent of strapping rocket engines to already powerful sports cars. These specialized processors handle complex AI tasks that would make regular computers cry silicon tears. The company has signed a binding term sheet with a customer for GPU-accelerated workloads as part of its new Bit Digital AI business line. The company aims to achieve 32MW of HPC data centers by year-end, showing their aggressive expansion strategy.
The Québec facility, expected to be operational by July 2025, comes with a price tag of approximately CAD $55 million (~$40 million USD). It’s like building a five-star hotel for algorithms—complete with renewable energy from Hydro-Québec as the eco-friendly room service. This approach mirrors the growing DeFi movement that’s challenging traditional financial infrastructure with innovative alternatives.
Results are already exceeding expectations. In its first full month of AI operations, Bit Digital generated revenue at a $50 million annualized rate, nearly matching its entire 2023 bitcoin mining income. The company expanded its enterprise client base from a lonely solo customer to over 20 in 2024—impressive growth by any standard.
Bit Digital’s AI gambit is already paying off—$50M annualized revenue with 20× customer growth in months.
Bit Digital hasn’t abandoned its roots entirely. Rather, it’s diversifying against cryptocurrency‘s notorious rollercoaster tendencies. Think of it as having both a steady office job and a weekend gig as a casino dealer—one provides stability, the other excitement.
The company’s partnership with Shadeform to provide NVIDIA B200 GPUs through WhiteFiber’s cloud infrastructure extends its reach globally across more than 100 regions. This subscription-style approach eliminates the jaw-dropping upfront costs typically associated with AI computing.
With approximately 85% of operations running on carbon-free energy, zero debt on its balance sheet, and targeted AI revenues of $100 million by the end of 2024, Bit Digital is positioning itself as a sustainability-minded tech powerhouse that’s no longer betting its future exclusively on bitcoin’s volatility.
