Bit Digital Inc (NASDAQ:BTBT) said on Friday it has secured rights to a new data center site in Saint-Jérôme, Québec.
The new location will support a previously announced 5MW colocation agreement with Cerebras Systems, a developer of generative AI infrastructure.
The 202,000-square-foot facility, located on a 7.7-acre property, is being retrofitted to Tier 3 standards and is expected to be operational by July 2025, Bit Digital said in a statement.
The project, delivered through Bit Digital’s high-performance computing platform WhiteFiber, is projected to cost around C$55 million ($40 million).
The lease-to-own deal includes a fixed-price purchase option exercisable within 12 months, and spans a 20-year term with two additional five-year extension options.
CEO Sam Tabar told shareholders the milestone marks further progress in the company’s strategy to build and scale purpose-built AI infrastructure.
“Speed to market is a key differentiator in the AI infrastructure space, and this site reflects our ability to mobilize and deliver capacity on accelerated timelines,” Tabar said.
The Saint-Jérôme facility will initially support the 5MW capacity contracted by Cerebras under a five-year colocation deal announced in February. Cerebras also holds a right of first refusal for any additional megawatt capacity that becomes available at the site.
Shares of Bit Digital moved around 7% higher on Friday afternoon, closing at $1.85 on the Nasdaq.