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Bit Digital, Inc. Vertically Integrates, Acquiring Tier 3 HPC Datacenter Company; 280+ MW Pipeline in Major Metropolitan Areas

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NEW YORK, Oct. 14, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced today that it has acquired Enovum Data Centers (“Enovum”), an owner, operator, and developer of high-performance computing (“HPC”) datacenters, for a total consideration of approximately CAD $62.8 million (approximately USD $46MM). This transaction vertically integrates Bit Digital’s HPC operations with an existing, fully operational and fully leased Tier 3 datacenter in a major city; provides a strong diversity of existing and prospective colocation customers; delivers a strong pipeline of expansion site opportunities and an experienced team to lead the development processes; and enables Bit Digital to offer new service offerings such as colocation and on-demand computing to complement its existing GPU offerings.

Transaction Overview: Bit Digital has acquired Enovum for a total consideration of CAD $62.8MM (approximately USD $46MM based on a CAD/USD exchange rate of 0.73). The acquisition was completed on a debt-free, cash-free basis, with a normalized level of working capital acquired, funded by approximately CAD $56 million of cash and approximately 1.62 million share equivalents issued solely to key management who rolled-over a significant portion of their existing ownership in Enovum. The transaction closed on October 11, 2024.

Strategic Rationale: The addition of Enovum vertically integrates Bit Digital’s HPC business into the colocation services sector of the value chain. This creates the potential for significant synergies, as Bit Digital may capture additional margin from HPC customers, versus hosting them with third party datacenters. Additionally, it enhances Bit Digital’s competitive positioning in the marketplace, enabling the Company to offer an integrated GPU cloud solution to customers. Finally, Bit Digital will enjoy greater operating flexibility by colocating its owned GPU inventory in Enovum datacenters, offering capacity to customers on a just-in-time basis – an important differentiator in a marketplace where time-to-market is paramount.

Expansion Pipeline: Enovum has a proprietary development pipeline of 288 MW, including 93MW that are currently under LOI with respective landlords. All sites are in major metropolitan areas and in general will be designed to accommodate direct-to-chip liquid cooling. Immediate term plans include bringing approximately 8MW online by the end of 2Q 2025 for approximately USD $50MM of capex.  The Company expects run-rate, colocation EBITDA for the Enovum business to exit 2Q25 at approximately USD $13MM based on that development schedule. Bit Digital may also place its own GPUs at those sites, which could significantly increase EBITDA per MW. The Company is tentatively planning to bring an additional 20MW online by year-end 2025. However, development plans will be contingent on firm customer demand and financing options.

Financing Alternatives: Bit Digital has engaged an investment banking firm to pursue debt financing alternatives to expand Bit Digital’s capital resources to fund both Enovum’s expansion capex, as well as procurement of GPU servers for Bit Digital’s existing cloud business. The Enovum acquisition has been structured to optimize tax outcomes and provide for a potential future REIT (Real Estate Investment Trust) election.

Enovum Overview: Enovum, headquartered in Montreal, Canada, is an owner, operator, and developer of HPC datacenters that commenced operations in 2020. Enovum currently operates a 4MW Tier 3 datacenter in Montreal that is powered by renewable hydroelectricity. The site, which is leased through 2036 with two five-year extension options, features 2N UPS and 2N generators with N+1 redundant cooling design. The site is currently fully leased to more than a dozen colocation customers and is expected to generate approximately CAD $10MM of revenue in 2025. Enovum already has strong demand from both existing and new customers for colocation capacity in new capacity to be brought online.

Experienced Team: Bit Digital will retain key employees from Enovum as part of its purchase agreement to ensure operational continuity of the existing site and development of the expansion pipeline. These employees possess decades of collective experience in managing and developing Tier 3 data centers and fill a key gap in Bit Digital’s capabilities.

Management Commentary: Sam Tabar, Bit Digital’s CEO, commented: “We are thrilled to announce a transformational acquisition for Bit Digital. This transaction is the culmination of many months of due diligence and negotiation. Vertical integration on the HPC side has been a priority for Bit Digital and we believe we were able to achieve this goal at an attractive price. For a similar cost to ground-up development, we acquired an operational 4MW facility and a key time value advantage vs. greenfield development; a fully leased site already generating several million dollars of EBITDA; a diverse set of existing customers and firm book for future capacity; and a strong pipeline of future sites with an experienced team to lead the development process.”

Tabar continued: “One of our key criteria for acquiring an HPC site was proximity to a major metropolitan area. The existing site in Montreal and near-term expansions sites are all located in Tier-1 cities. We continue to see major value in having datacenter assets adjacent to highly populous areas as they present the most value for inference models where latency is a primary concern. Following this acquisition and contemplating our expansion program, we believe Bit Digital will be well positioned to accommodate inference workloads. In tandem with the buildout of our datacenter footprint, we will continue to invest in our GPU-as-a-service business, with the two units coalescing to establish a formidable player in the HPC industry.”

Advisors: B. Riley Securities is acting as exclusive financial advisor to Bit Digital, Inc. and Davies Ward Phillips & Vineberg LLP and White & Case LLP are acting as legal advisors.

Conference Call: The Company will host a conference call to discuss the acquisition on Tuesday, October 15th, 2024, at 9AM ET. To register for the webcast, please click: here. Additionally, participants can join the conference call by dialing 1- 800-289-0459 (passcode: 632269). An accompanying investor presentation can be found on the investor relations page bit-digital.com.

About Enovum

Enovum is a high-performance computing data center operator headquartered in Montreal, Canada. Enovum operates a Tier 3 datacenter in Montreal that currently has 4MW of capacity. The company also has a pipeline of development sites of more than 280MW, including over 90MW currently under LOI. Enovum has an experienced team that has proven to be able to build state-of-the-art datacenters and source high-value customers to fill that capacity.

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

 

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SOURCE Bit Digital, Inc.

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Technology

IGT Maintains Responsible Gaming Leadership with World Lottery Association Recertification

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January 14, 2025

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LONDON, Jan. 14, 2025 /PRNewswire/ — International Game Technology PLC (“IGT”) (NYSE: IGT) announced today that its lottery and iLottery operations have been recertified by the World Lottery Association (“WLA”) for WLA’s Corporate Social Responsibility Standards and Responsible Gaming Framework for Suppliers. WLA’s responsible gaming standards, a worldwide accreditation program for gaming industry operators and suppliers, were created to minimize the impact of problem gambling. This global certification confirms IGT’s alignment with the WLA’s standards.

“WLA’s recertification of IGT’s lottery and iLottery operations validates our responsible gaming industry leadership and our ongoing commitment to providing our lottery customers worldwide with effective responsible gaming technologies,” said Wendy Montgomery, IGT SVP, Marketing, Communications and Sustainability. “Advancing Responsibility is a key pillar in IGT’s Sustainable Play program and serves as a guiding principle for everything we do. We operate with the highest level of integrity to protect our people, products and processes, and this certification endorses those efforts.”

To determine IGT’s WLA recertification, WLA-approved assessor Gambling Integrity Services conducted a thorough assessment into IGT’s lottery operations that culminated in an independent auditor’s report on IGT’s alignment with the eight sections of the WLA standards. These standards include research, employee programs, product and service development, remote gaming environment, advertising and marketing communications, client awareness, stakeholder engagement and reporting.

For more information on IGT’s global sustainability program, visit IGT.com, or follow IGT on LinkedIn.

About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, products and services, customer relationships, results of operations, or financial condition, or otherwise, including the various environmental, social, governance and sustainability initiatives, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall,” “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2023 and other documents led from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact:
Phil O’Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Matteo Selva, Italian media inquiries, +39 366 6803635
James Hurley, Investor Relations, +1 (401) 392-7190

© 2025 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

 

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SOURCE International Game Technology PLC

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Gov. Moore Launches $1 Billion “Capital of Quantum” Initiative Anchored by UMD

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January 14, 2025

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Strategic Partnership Aims to Cement State and Greater-D.C. Region as a World-leading Hub for Quantum Science and Innovation

COLLEGE PARK, Md., Jan. 14, 2025 /PRNewswire/ — Governor Wes Moore today joined University of Maryland President Darryll J. Pines and IonQ President and Chief Executive Officer Peter Chapman to announce the “Capital of Quantum” Initiative – a landmark public-private partnership that will catalyze $1 billion in investments to position Maryland as a global leader in quantum information science and technology. The initiative was announced during an event highlighting the Governor’s economic growth agenda for the 2025 Legislative Session and hosted at IonQ, a leading quantum computing and networking firm partially founded on UMD research and headquartered in the university’s Discovery District.

“Quantum has the potential to transform every part of our economy and society, from national security to health care,” said Gov. Moore. “With extraordinary assets and partnerships, Maryland can—and should—lead in this new emerging sector, and we are moving forward with a clear strategy to make that vision a reality. Together, we will make Maryland the quantum capital of the world.”

This strategic partnership between the State of Maryland, the University of Maryland and private and federal partners, aims to unlock more than $1 billion in investments — a combination of state funds, matching federal grants, private sector investments and philanthropic contributions — over the next five years. It will firmly establish the greater D.C. region, anchored by the University of Maryland, as one of the world’s top quantum epicenters.

Recognizing Maryland’s unique assets and strategic advantages to grow the state’s quantum science and technology sector, Gov. Moore last month signed an executive order that identified quantum computing as an industry that the Moore-Miller Administration will be prioritizing through state investment and support. 

Gov. Moore’s FY 2026 budget submission includes $27.5 million as the state’s initial investment toward the Capital of Quantum initiative, which is expected to spur more than $200 million in University of Maryland and partner investments to support academic, technical, workforce and ecosystem support. The Moore-Miller Administration has also committed continued funding for the construction of Zupnik Hall, a new $244 million state-of-the-art facility that includes more than $58 million in private investments and $185.4 million from the state, that will feature quantum labs on the University of Maryland campus. With additional funding over the next several years from the state, federal agencies, private sector partners and other sources, state and university leaders are driving toward a $1 billion investment. 

“We are deeply grateful to Gov. Moore for his visionary investment in building a brighter future for Maryland’s economy,” said University of Maryland President Darryll J. Pines. “He recognizes the immense potential of quantum technology and the possibilities we can explore if we work together to position our region as the global Capital of Quantum. We look forward to collaborating with the Governor’s office and regional partners to ensure that this investment yields lasting benefits for all Marylanders.”

With the launch of the Capital of Quantum Initiative, the University of Maryland will move forward with plans to:

Recruit top quantum scientists and engineers from around the world to join the ranks of 200+ UMD quantum faculty – one of the largest concentrations in the world – to usher in a new wave of discovery and innovation.Expand access to the National Quantum Laboratory (QLab), a unique UMD partnership with IonQ that provides students, researchers and entrepreneurs from around the world with hands-on access to quantum computers and scientists.Hire highly skilled test and evaluation experts to support quantum-focused projects and construct a new building for UMD’s Applied Research Laboratory for Intelligence and Security, one of only 15 designated Department of Defense University Affiliated Research Centers (UARC) around the nation and the only UARC dedicated to intelligence and security.Create additional facilities to house an expanded Quantum Startup Foundry, a business accelerator based in UMD’s Discovery District that provides resources and support for entrepreneurs and startups bringing quantum technologies to market.Launch education, outreach and training initiatives to include high school quantum curriculum, masters and certificate programs and workforce retraining opportunities.

Subject to the Governor’s budget being approved, IonQ, an anchor partner in the initiative, will grow its corporate headquarters into a 100,000 square feet facility with data center, laboratories, and office space within UMD’s Discovery District. IonQ also intends to double its corporate headquarters workforce to at least 250 people in the Maryland region over the next five years. Today’s announcement, once approved by the legislature, is expected to create high paying and skilled jobs in diverse fields such as construction, software and hardware engineering, operations, applied physics, networking and more.

“Investing in quantum computing is investing in Maryland’s future,” said Peter Chapman, President and CEO of IonQ. “Through Governor Moore’s strategic economic development initiative and proposed investment in quantum, he is not only supporting cutting-edge research and innovation but fostering economic growth and job creation in the state. The Governor’s commitment is a testament to his vision for the pivotal role that quantum science will play in the state’s economic development and technological leadership. This investment will also enhance our collaboration with the University of Maryland to solidify the region as a global leader in quantum innovation.”

Quantum and the University of Maryland

The University of Maryland is home to one of the world’s largest cohorts of quantum scientists and engineers, built on decades of foundational research and deep partnerships with government labs, agencies and industry. As understanding of the quantum universe expands, UMD fosters new tools to grow the state of Maryland’s and the nation’s economies and solve society’s biggest challenges.

Quantum technologies harness fundamental properties of nature to open new frontiers in computing power, precision sensing, secure communications and more. They hold promise for a wide range of breakthroughs, such as accelerating the design of new chemicals and materials, revolutionizing data encryption and creating advanced medical diagnostic tools. According to a 2024 analysis by McKinsey & Company, quantum technology is expected to generate up to $2 trillion in value for businesses by 2035. 

UMD’s vibrant quantum business ecosystem includes IonQ, a leading quantum computing firm headquartered in UMD’s Discovery District; a growing roster of firms in other quantum subfields; and a university-run business accelerator, the Quantum Startup Foundry. Fueled by graduates of our quantum academic programs, the university is sparking an industry that could one day become a major high-tech sector centered in the state of Maryland.

Learn more at quantum.umd.edu. 

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SOURCE University of Maryland

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Zoomd’s Director and former CEO, Ofer Eitan, Establishes Automatic Share Disposition Plan

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48 minutes ago

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January 14, 2025

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TORONTO, Jan. 14, 2025 /PRNewswire/ — Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company”), the marketing tech (MarTech) user-acquisition and engagement platform, announced today that Ofer Eitan, one of the Company’s directors, former CEO, who previously served as the founder and CEO of Moblin (which merged with Zoomd in 2017) has established an Automatic Securities Disposition Plan (“ASDP”) in accordance with applicable Canadian securities legislation and the Company’s insider trading policy.

The ASDP permits trades to be made in accordance with pre-arranged instructions given to the independent broker administering the ASDP, which include a general 10% daily volume restriction  when Mr. Eitan was not in possession of any material undisclosed information. The terms of the ASDP prohibit the broker administering the ASDP from consulting with Mr. Eitan regarding any sales under the ASDP and otherwise prohibits Mr. Eitan from exercising any discretion or influence over how dispositions will occur.

Up to two million (2,000,000) may be sold under the ASDP, subject to a minimum floor price set in the ASDP. The ASDP is designed to allow for an orderly disposition of such securities to be sold until December 31, 2025. The first trades under the ASDP will not occur before May 5, 2025.

The ASDP prohibits Mr. Eitan from amending, suspending or terminating the ASDP.

This announcement is made and will be available on SEDAR+ at www.SEDARplus.ca pursuant to the recommended practices set forth in Staff Notice 55-317 – Automatic Securities Disposition Plans of the Canadian Securities Administrators (“SN 55-317”). Dispositions pursuant to the ASDP will be reported by Mr. Eitan in accordance with applicable Canadian securities legislation and SN 55-317.

ABOUT ZOOMD:

Zoomd (TSXV: ZOMD, OTC: ZMDTF), established in 2012 and listed on the TSX Venture Exchange since September 2019, provides an innovative mobile app user-acquisition platform that integrates with numerous global digital media outlets. This platform presents a unified view of multiple media sources, thereby serving as a comprehensive user acquisition control center for advertisers. It streamlines campaign management through a single point of contact, simplifying customer acquisition efforts. The consolidation of media sources onto one platform enables Zoomd to offer advertisers substantial savings by reducing the need for disparate data source integration, enhancing data collection and insights, and minimizing resource expenditure.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. 

FOR FURTHER INFORMATION PLEASE CONTACT:

Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com
Website: www.zoomd.com

Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com

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SOURCE Zoomd Technologies Ltd.

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