Digihost Partners With Bit Digital To Drive Hash Rates By 400 PH - Bit Digital (NASDAQ:BTBT)

Digihost Technology Inc HSSHF inked an agreement to provide certain premises to Bit Digital Inc BTBT to operate and store a 20 MW Bitcoin mining system to be delivered by Bit Digital. Digihost Technology will also provide services to maintain the premises for a term of two years.
The collaboration is estimated to accelerate the hash rate to 400 PH between the companies.
Digihost will provide power for the mining system and management services operation to maintain 95% uptime on the system for an undisclosed sum.
Digihost and BTBT will participate in an undisclosed profit-sharing arrangement based on a fixed distribution formula after deducting the amount due to the aforementioned mining system. The mining system is estimated to be delivered and installed during the Q4 of 2021.
Price action: BTBT shares traded higher by 4.75% at $8.82 in the market session on the last check Thursday.