11:10 AM EST, 12/30/2024 (MT Newswires) -- Bit Digital ( BTBT ) said Monday it acquired a site for a build-to-suit five megawatts tier-3 data center expansion project in Montreal, Canada, for CA$33.5 million ($23.3 million).

The company financed the acquisition with cash on hand, it added.

The acquisition is part of the company's plan to increase its high-performance computing data center footprint to 32 megawatts during next year, Bit Digital ( BTBT ) said, adding that the Montreal site is expected to be completed and operational by May.

Shares of Bit Digital ( BTBT ) were down more than 6% in recent trading.

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