The $45 million purchase was financed using the company’s available cash, which stood at $61.3 million as of the end of March, bolstered by proceeds from its at-the-market equity offering.

Bit Digital Inc. (BTBT) revealed it has purchased a 96-acre industrial site spanning roughly one million square feet in Madison, North Carolina. 

The company plans to convert the property into an AI-focused data center campus, marking a milestone in its ongoing expansion into high-performance computing (HPC) infrastructure.

The $45 million acquisition was funded through Bit Digital's existing cash reserves, which totaled $61.3 million as of the end of March, supported by its at-the-market equity program. 

The company plans to initiate commercial mortgage financing to fund the site’s buildout further.

WhiteFiber Inc., the recently renamed high-performance computing arm of Bit Digital, will lead the development of the new site. 

The company has finalized a power supply arrangement with Duke Energy, securing 99 megawatts (MW) of capacity, with 24 MW expected to come online by Sept. 1, 2025. 

The initial stage of the data center buildout is scheduled to be completed and active by the end of this year. 

Furthermore, Duke Energy’s early feasibility analysis suggests the facility could scale to 200 MW, pending additional service agreements and fulfillment of certain requirements.

Situated in North Carolina’s Piedmont Triad, the Madison campus benefits from a prime location within 100 miles of major urban centers, which makes it well-suited for supporting AI inference operations. 

The presence of established hyperscale operators in the region adds to the site’s attractiveness for prospective data center tenants.

"The location, size, and power profile make it a rare asset, which we believe will be foundational to meet accelerating demand from AI customers and pursue long-term value creation for shareholders,” said CEO Sam Tabar.

WhiteFiber is in discussions with several potential HPC tenants and has secured a non-binding agreement with one. With an investment exceeding $1 billion and more than 60 new jobs projected, the development is poised to benefit the local economy. 

On Stocktwits, retail sentiment around Bit Digital remained in ‘neutral’ territory.

BTBT's Sentiment Meter and Message Volume as of 10:30 a.m. ET on June 2, 2025 | Source: Stocktwits

A Bullish Stocktwits user believes the shares are undervalued.

Bit Digital stock has lost over 19% year-to-date and over 7% in the last 12 months.

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