Bit Digital Inc (NASDAQ:BTBT) announced that its wholly-owned high performance computing subsidiary WhiteFiber has acquired a 96-acre industrial property in North Carolina.
The company intends to retrofit the nearly one million square foot facility into a flagship AI data center campus.
The facility has immediate power availability and is backed by a capacity agreement with Duke Energy for 99 megawatts (MW), with 24 MW expected to be delivered by September 1.
Bit Digital aims to complete this first phase of construction and be online by the year-end.
A feasibility study by the utility indicates the potential to expand capacity up to 200 MW, subject to future agreements and regulatory approvals.
"Securing this site is a meaningful step in scaling our AI infrastructure platform," Bit Digital CEO Sam Tabar said in a statement.
"The location, size, and power profile make it a rare asset, which we believe will be foundational to meet accelerating demand from AI customers and pursue long-term value creation for shareholders.”
The company highlighted that the site is located in the Piedmont Triad region, within 100 miles of Charlotte, Raleigh, Greensboro, and Winston-Salem, and approximately 13 miles from the Virginia border. The area is already home to several hyperscale data centers and has become a growing hub for AI and cloud infrastructure.
Bit Digital has signed a non-binding letter of intent with one potential HPC tenant and said it is in active discussions with others.
"North Carolina's leadership in high performance computing started decades ago with our research universities, the Research Triangle, and our focus on the future," North Carolina Governor Josh Stein said. "WhiteFiber's decision to join our state's IT community will help bring the next generation of computing excellence to North Carolina."
The $45 million purchase was funded using cash on hand, reserved through Bit Digital’s at-the-market equity program. The company intends to pursue commercial mortgage financing for the site as development progresses.
Additionally, the project has been confirmed as a qualifying data center by the state of North Carolina, making it eligible for significant sales and use tax exemptions.