Tuesday, November 28, 2023
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Contract. Last week, Bit Digital announced details regarding its first Bit Digital AI contract. Under the terms of the agreement, Bit Digital will supply the customer with computational power from 1,504 GPUs for a period of three years. The contract will commence January 2024 and represents more than $35 million of annualized revenue to Bit Digital.
Platform. To fulfill the contract, the Company placed a purchase order for servers manufactured by Super Micro Computer, Inc., an authorized Nvidia OEM, that are equipped with 1,504 Nvidia HGX H100 GPUs along with related equipment, which are expected to be delivered to the Company by January 2024.
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