Bit Digital, Inc. has signed a lease agreement with an option to purchase a 202,000 square foot site in Saint-Jérôme, Quebec, to build a Tier 3 data center that will support its 5 MW colocation contract with artificial intelligence (AI) infrastructure specialist Cerebras Systems.

Cerebras and Bit Digital Team Up to Build Tier 3 Data Center Near Montreal

Publicly traded bitcoin mining company Bit Digital (Nasdaq: BTBT) said the facility upgrade, scheduled to launch in July 2025, will cost about C$55 million (US$40 million).

The 7.7-acre site, dubbed MTL-3, will initially provide contracted capacity under a 20-year lease with two five-year extension options. Bit Digital subsidiary Whitefiber will be responsible for the development, which includes a fixed-price purchase option valid for 12 months.

Bit Digital confirmed that Cerebras has first option on additional capacity at the site under a five-year colocation agreement announced in February this year. The move reflects a broader trend as many mining companies begin to diversify into high-performance computing (HPC) and artificial intelligence.

Bit Digital CEO Sam Tabar noted that the project is in line with the company’s commitment to accelerate the deployment of AI infrastructure. “This milestone represents the continued momentum in our strategy to deliver specialized AI infrastructure at scale,” Tabar added.

The company explained that the Montreal region has become a hub for AI innovation and is able to meet growing demand. New York-based Bit Digital operates Bitcoin (BTC) mining operations and HPC infrastructure in the United States, Canada, and Iceland.

Source: cryptonews.net