Bit Digital, Inc.  a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York, announced today that is has acquired the real estate and building for a build-to-suit 5MW Tier-3 data center expansion project in Montreal, Canada. This acquisition is part of Bit Digital’s strategy to expand its HPC data center footprint to 32MW during 2025. This site also comprises part of Bit Digital’s 288MW proprietary pipeline announced earlier this year.
Bit Digital purchased the site (“MTL2“) for CAD $33.5 million (approximately USD $23.3MM assuming a CAD/USD exchange rate of 0.70) excluding fees. The acquisition closed on December 27, 2024. Bit Digital initially funded the purchase with cash on hand and is in the process of securing mortgage financing for both the site acquisition and subsequent infrastructure capex.
The Company expects to spend approximately CAD $27.6 million (approx. USD $19.3MM) to develop the site to Tier-3 standards with an initial gross load of 5MW. The site is expected to be completed and operational by May 2025.
MTL2, a 160,000 square feet site that was previously used as an encapsulation manufacturing facility, is located in Pointe-Claire, QC. Bit Digital plans to retrofit the site with advanced cooling technology, including direct-to-chip liquid cooling, which enhances energy efficiency and supports AI and other high-performance workloads with 150kW rack density. The Company is collaborating with third parties to implement a heat reject loop to further enhance the sustainability profile of the datacenter. The facility will be powered by 100% renewable hydroelectricity provided by Hydro-Quebec. Additionally, the site offers the potential to expand, enabling scalable growth aligned with market demand.
Sam Tabar, Bit Digital’s CEO, commented: “This site acquisition marks an important step forward in our data center growth plans. This site is a Class A industrial property that was a former encapsulation manufacturing facility that included premium infrastructure specifications. It is located in one of the most desirable commercial real estate locations in Montreal. By leveraging the existing infrastructure, including over CAD $750 thousand worth of advanced HVAC equipment included in the purchase, we are able to lower our development costs and accelerate our time to market – a key advantage and core tenet of our development strategy. The development timeline aligns with the demands of a new customer that intends to fill the capacity with new generation Nvidia GPUs.
We are in the process of securing cost-effective mortgage financing for this project which we intend to announce upon finalization. We believe this will ultimately showcase Bit Digital’s ability to cost-effectively finance its data center buildout in a non-dilutive manner.”
Also Read: CIO Influence Interview with David Nuti, Head of Security Strategy, Extreme Networks
[To share your insights with us as part of editorial or sponsored content, please write to psen@itechseries.com]
