Bit Digital Inc. expands into tier 3 data centers with 46 million dollars Enovum acquisition
Published: 13:27 29 Oct 2024 EDT
Bit Digital CEO Sam Tabar joined Steve Darling from Proactive to discuss the company’s acquisition of Enovum Data Centers, a high-performance computing (HPC) datacenter operator, for approximately CAD $62.8 million (USD $46M). This acquisition represents a vertical integration of Bit Digital's HPC business, bringing a fully operational Tier 3 datacenter and a diverse customer base under its wing. The move will allow Bit Digital to offer new services, such as colocation and on-demand computing, alongside its existing GPU offerings.
According to Tabar, Enovum’s integration will allow Bit Digital to capture additional margins from HPC customers, previously hosted with third-party providers. The acquisition also strengthens Bit Digital’s market position by offering an integrated GPU cloud solution, enabling on-demand services in a highly time-sensitive sector. By leveraging Enovum’s facilities, Bit Digital gains operational flexibility, allowing it to house GPU inventory and provide just-in-time capacity to meet client demand swiftly.
Enovum’s development pipeline includes 288 MW, with 93 MW under Letter of Intent (LOI) with various landlords. Plans are underway to bring 8 MW online by the end of Q2 2025, supported by approximately USD $50M in capital expenditure. The facilities will be located in major cities, designed to support advanced cooling solutions like direct-to-chip liquid cooling, underscoring Bit Digital’s commitment to cutting-edge datacenter infrastructure.
