Bit Digital acquires Montreal site for data center

US data center developer and crypto firm Bit Digital has acquired the site for a build-to-suit 5MW data center expansion project in Montreal, Canada.The company initially used cash on hand to fund the acquisition and is working to obtain mortgage financing to cover the site's acquisition and subsequent infrastructure expenditures.

“We are in the process of securing cost-effective mortgage financing for this project, which we intend to announce upon finalization. We believe this will ultimately showcase Bit Digital’s ability to cost-effectively finance its data center buildout in a non-dilutive manner,” said Sam Tabar, CEO of Bit Digital.

Following the acquisition, Bit Digital plans to retrofit the site with direct-to-chip liquid cooling technology to support AI and other high-performance workloads with 150kW rack density. The company will collaborate with third parties to implement a heat reject loop, enhancing the data center's sustainability profile. MTL2 will be powered entirely by hydroelectric power provided by Hydro-Québec.