Bit Digital, Inc. has shared an replace on its journey into synthetic intelligence (AI) companies by securing a binding time period sheet with Boosteroid Inc., a serious participant within the cloud gaming trade. This partnership highlights Bit Digital’s strategic course, which focuses on enhancing its AI capabilities by its present digital asset mining infrastructure.
Bit Digital and Boosteroid Ink Deal for GPU Servers
In accordance with Bit Digital (Nasdaq: BTBT), the settlement with Boosteroid is a pivotal step ahead within the firm’s development plan. The time period sheet lays out a plan the place Bit Digital will present graphics processing unit (GPU) servers to Boosteroid, with the preliminary deployment set to happen over the subsequent two to a few months.
The settlement additionally permits Boosteroid to doubtlessly scale as much as 50,000 GPU servers inside 5 years, which might generate income exceeding $700 million. This initiative aligns with Bit Digital’s broader purpose of integrating AI and high-performance computing (HPC) into its digital asset operations, which embrace bitcoin (BTC) mining and ethereum (ETH) staking.
Along with the Boosteroid deal, Bit Digital reported its monetary outcomes for the second quarter of fiscal yr 2024. The corporate’s whole income climbed to $29 million, pushed by a mixture of high-performance computing (HPC) companies and elevated BTC mining earnings. The agency additionally highlighted its dedication to sustainability, noting that 86% of its mining fleet’s vitality consumption is from carbon-free sources.
BTBT shares are at present buying and selling at $3.68 every. On Tuesday, the inventory surged 21%, has risen 18% over the previous 5 days, however is down 4.34% for the month. Bit Digital attributed a lot of its success to its HPC companies enterprise, notably following Bitcoin’s fourth halving occasion. Many BTC miners, together with Bit Digital, have discovered AI companies to be an important addition to their operations as they enterprise into this quickly rising sector.
