Bitcoin mining company Bit Digital has spent $46 million to acquire the Canadian Enovum data center

ChainCatcher news, Bitcoin mining company Bit Digital (BTBT) announced the acquisition of the Enovum data center located in Montreal, Canada, for $46 million. This is a Tier 3 high-performance computing (HPC) facility. According to investor presentations, the data center is "100% leased, with a contract stipulating a capacity of 4 megawatts."

The funding for this acquisition primarily comes from its cash reserves, as well as approximately 1.62 million newly issued BTBT shares. It is currently unclear whether Bit Digital liquidated any of its digital assets to fund this transaction. As of June 30, the company reported cash of $61.7 million, and as of September 30, it held Bitcoin and Ethereum valued at $118 million.