Tag: Data centers

Release – Bit Digital, Inc. Announces Strategic Rebranding of its HPC Business to WhiteFiber

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BTBT

NEW YORK, February 6, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”) announced today that it has officially rebranded its HPC business as WhiteFiber, Inc. (“WhiteFiber”). WhiteFiber encompasses the Company’s GPU Cloud business and its HPC data center business, Enovum Data Centers (“Enovum”). The new WhiteFiber website can be found at www.whitefiber.com.

Sam Tabar, CEO of Bit Digital, commented: “Rebranding our HPC business to WhiteFiber is an important step in establishing a distinct identity for this transformative venture. WhiteFiber represents the convergence of cutting-edge technology and seamless connectivity, underscoring our commitment to delivering vertically integrated HPC solutions. By combining data center colocation with GPU cloud services, we provide the high-performance infrastructure required for the most demanding AI workloads. With this rebrand, we signal to our customers, partners, and investors that we are focused on building a platform of unmatched reliability, efficiency, and innovation. Our WhiteFiber business is currently servicing more than 20 customers compared to just 1 at the start of 2024. We look forward to expanding both our customer base and existing partnerships through industry-leading performance and reliability.”

This rebranding underscores Bit Digital’s commitment to addressing the surging demand for data centers and sustainable, cutting-edge HPC and AI cloud infrastructure. WhiteFiber’s platform is engineered to support the most demanding workloads with unparalleled performance, reliability, and efficiency, empowering industries to meet the challenges of tomorrow. The Company’s bitcoin mining and ETH staking businesses will continue to operate under the Bit Digital brand.

About Bit Digital

Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. Our operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (“Annual Report”). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors. See “Safe Harbor Statement” below.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Amazon to Invest Over $500 Million in Small Modular Nuclear Reactors for Clean Energy

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Amazon Web Services (AWS) partners with Dominion Energy to explore small modular nuclear reactors (SMRs) in Virginia, investing over $500 million.
– The SMRs aim to provide essential clean energy to AWS data centers, supporting its expansion into generative AI.
– Amazon joins other tech giants like Google and Microsoft in utilizing nuclear power to meet rising energy demands while pursuing net-zero carbon goals.

Amazon Web Services (AWS) has announced a groundbreaking investment of more than $500 million to develop small modular nuclear reactors (SMRs), a move that signifies a robust commitment to clean energy and sustainable operations. The deal, made in partnership with Dominion Energy, will focus on constructing an SMR facility near Dominion’s existing North Anna nuclear power station in Virginia. This strategic investment aligns with Amazon’s broader goals to achieve net-zero carbon emissions while meeting the increasing energy demands of its expanding cloud computing services.

The SMR technology represents an advanced approach to nuclear energy, characterized by its smaller footprint, which allows for construction closer to energy demand centers like data centers. SMRs offer faster construction timelines compared to traditional nuclear reactors, enabling them to come online more quickly. With the surge in demand for data processing driven by generative AI, AWS anticipates significant increases in its power needs. According to Matthew Garman, CEO of AWS, “We see the need for gigawatts of power in the coming years, and there’s not going to be enough wind and solar projects to be able to meet the needs, and so nuclear is a great opportunity.”

Virginia, known as a hub for data centers, hosts nearly half of the nation’s facilities. The growing demand for electricity in the region has put immense pressure on local utilities. Dominion Energy serves approximately 3,500 megawatts from 452 data centers across its service territory, with projections indicating an 85% increase in power demand over the next 15 years. The new SMR facility is expected to provide at least 300 megawatts of power to help alleviate this demand.

Amazon’s investment is part of a larger trend among major tech companies to integrate nuclear power into their energy strategies. Other industry leaders, such as Google and Microsoft, have similarly announced plans to utilize SMR technology to fuel their operations. Google’s recent deal with Kairos Power and Microsoft’s revival of the Three Mile Island site for energy highlight the growing recognition of nuclear energy as a viable solution to meet escalating power needs while adhering to sustainability commitments.

In addition to its partnership with Dominion Energy, AWS is also collaborating with Energy Northwest in Washington state to develop four SMRs, with the option for more. These reactors will directly supply energy to the grid, benefiting both Amazon’s operations and the broader electricity market. The development is crucial for reinforcing the grid’s capacity and reliability, especially as more data centers come online.

The U.S. government has shown strong support for the development of nuclear energy, with Secretary of Energy Jennifer Granholm announcing $900 million in new funding for projects aimed at deploying more SMRs. This backing underscores the Biden administration’s commitment to transitioning to cleaner energy sources while enhancing energy security.

As the global energy landscape evolves, Amazon’s substantial investment in small modular nuclear reactors positions the company at the forefront of the clean energy movement, setting a precedent for how tech giants can leverage innovative solutions to meet their growing energy demands sustainably. The successful implementation of these SMRs could pave the way for a new era of energy production that not only supports corporate growth but also aligns with the urgent need for a transition to a low-carbon economy.