Bit Digital : Purchase Agreement - Form 6-K

Published: 2021-10-18 17:22:24 ET BTBT

Entry Into A Material Definitive Agreement

On October 7, 2021, Bit Digital USA, Inc., a wholly-owned subsidiary of Bit Digital, Inc. (the "Company"), entered into a Non-Fixed Price Sales and Purchase Agreement (the "Agreement") with Bitmain Technologies Limited ("Bitmain"). A copy of the Agreement is attached hereto as Exhibit 4.1. The Company agreed to purchase 10,000 Antminer bitcoin miners. The miners are expected to increase the Company's miner fleet hash rate by approximately 1.0 Exahash ("EH/s"). The total maximum purchase price is estimated at US $65,000,000 (subject to certain potential discounts), of which the initial installment has been made, with the final installment due ten (10) days prior to each shipment through June 2022.

The actual price will be determined fifteen (15) days before each current batch is shipped with reference to market circumstances, provided that the actual price shall not be higher than the estimated price, and is subject to negotiation and/or cancellation by the Company of an order. Unless otherwise provided, neither party can terminate the agreement in advance.

Exhibits

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Disclaimer

Bit Digital Inc. published this content on 18 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2021 21:21:07 UTC.