Bit Digital expands crypto mining capacity, stock gains 5% premarket

Bit Digital ( NASDAQ: BTBT ) said it finalized a deal for 10 MW of incremental hosting capacity to power its miners, featuring an initial two-year term with automatic three-month renewals. Shares +5.1% before the bell. The hosting facility in Plattsburgh, New York is operated by a subsidiary of Coinmint. The new deal brings Bit Digital's ( BTBT ) total contracted hosting capacity with Coinmint to ~30 MW. Bit Digital ( BTBT ) plans to deliver ~3.1K miners to the facility, which contemplates the purchase of ~2K new generation miners to fill the capacity. The cryptocurrency miner expects the first tranche of mining rigs to be delivered to the facility and hashing by the end of April, and the second tranche to be delivered and hashing by the end of July. Earlier, Bit Digital's ( BTBT ) output rose 10% sequentially in March.