Bit Digital, a Bitcoin mining company, has purchased an industrial building in Madison, North Carolina, for $53.2 million as part of its strategy to diversify into artificial intelligence (AI) and high-performance computing (HPC). The acquisition, conducted through its Canadian subsidiary Enovum Data Centers Corp., includes a $2.25 million deposit, with $1.2 million non-refundable, and is expected to close by May 15. This follows the company’s establishment of a new Tier 3 data center in Quebec, Canada, which will support a 5 megawatt colocation agreement with AI infrastructure provider Cerebras Systems. Facing pressure from fluctuating crypto prices and the impending Bitcoin halving cycle, mining companies like Bit Digital are increasingly leveraging existing infrastructure to pursue higher-revenue opportunities in AI and other data-intensive sectors. Reports indicate that mining firms are likely to shift towards AI workloads as they strive to remain profitable. Bit Digital’s CEO emphasized the importance of delivering AI infrastructure at scale, and the Quebec facility will undergo approximately $40 million in upgrades to meet stringent Tier 3 operational standards.

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