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BTCT News
BTCT Events
BTC Digital Signs MOU with NTC and SGP for AI Data Center Project
BTC Digital signed a memorandum of understanding with Nam Trang Cat Investment, or NTC, and SG Partners or SGP establishing a three-party framework to evaluate and prepare an artificial intelligence data center project in Hai Phong, Vietnam. The Nam Trang Cat Industrial Park in Hai Phong covers approximately 2 million square meters and has a planned power load of approximately 300 MW. The parties intend to conduct phased work on feasibility, site and power-access verification, network and cooling design, permitting, customer-demand validation, and financing and investment planning. Under the MOU, NTC is expected to support local project coordination and assist with verification of relevant site, power and infrastructure conditions. BTC Digital is expected to contribute its digital computing infrastructure experience and international business resources to project evaluation and technical preparation. SGP is expected to support engagement with potential investors, financing sources and industry participants. The MOU provides for a two-year cooperation period and an initial six-month exclusivity period. The principal commercial arrangements under the MOU are non-binding. Any investment, financing, construction, equipment procurement, power supply, customer contract or operating arrangement remains subject to due diligence, required approvals, financing arrangements and definitive agreements.
BTC Digital Completes Cryptocurrency Infrastructure Project in Georgia, U.S.
BTC Digital announced that construction of its cryptocurrency computing infrastructure project in Georgia, U.S., has been completed and the project is now approaching deployment readiness. Based on the current power interconnection and pre-deployment preparation progress, the Company expects the project to reach a state within approximately the next two months in which it will be able to deploy high-performance cryptocurrency mining machines and commence digital asset mining operations. The project has a planned power capacity of 10MW. Based on the Company's current projections for its planned high-performance mining machine configuration and overall operating plan, the 10MW facility is designed to support up to approximately 900,000 TH/s of theoretical computing capacity, assuming full deployment of the Company's planned configuration of high-efficiency mining machines. The actual quantity of machines deployed, final realized computing power level and pace of operation will be dynamically adjusted based on factors including energization progress, mining machine models and energy efficiency, network difficulty, digital asset prices and overall market conditions. BTCT is currently advancing a "dual-engine" development strategy. On one hand, the Company continues to advance its strategic transformation into an AI computing infrastructure service provider, building out its capabilities across high-performance computing infrastructure, data center construction and operation, and AI computing services.
BTC Digital Appoints Wei Sun as Chief AI Business Growth Officer
BTC Digital announced the appointment of Wei Sun as Chief AI Business Growth Officer. In this role, Sun will be responsible for advancing the Company's AI computing business development, customer acquisition and the development of a commercial ecosystem for AI computing infrastructure. Sun will report directly to the Company's CEO. The appointment represents an important organizational step in support of BTCT's previously announced strategic objective of transforming into an AI computing infrastructure services provider. As artificial intelligence, large language models and intelligent applications continue to develop rapidly, global demand for AI computing capacity is expected to continue growing. BTCT has previously established an AI computing development strategy under which it plans to leverage its existing computing infrastructure, power resources and data center development capabilities to progressively expand into AI computing center development, AI computing resource operations, enterprise-grade AI computing services and high-performance computing infrastructure. Sun has more than 20 years of experience in artificial intelligence, big data and enterprise digital transformation, with extensive expertise in the commercialization of AI technologies and the development of enterprise customers. Prior to joining BTCT, Sun served as Chief Digital Officer of SF Supply Chain, where he was responsible for the company's AI strategy and digital transformation initiatives, including AI applications, AI agents and computing infrastructure planning.
Stock Futures Slightly Lower as Investors Await Middle East News
Stock futures were fractionally lower following Monday's regular session gains as investors await news out of the Middle East. President Trump said the U.S. and Iran will meet to negotiate after days of strikes as the market shifts focus from geopolitics back toward macro data. Investors are watching labor market releases, including the JOLTS report and Thursday's payroll report, for clues on the Federal Reserve path. Markets continue to weigh a resilient economy against concerns that sticky inflation could keep the Fed more restrictive than expected.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -AeroVironmentup 20.4%ALSO HIGHER -BTC Digitalup 160.7% after announcing a $28M private placementGain Therapeuticsup 20.2% after receiving FDA clearance of its GT-02287 IND applicationBiomXup 13.7% after filing to sell 7.16M shares of common stock for holdersTradewebup 2.1% after Goldman Sachs upgraded the stock to Buy from NeutralDOWN AFTER EARNINGS -Concentrixdown 22.2%ALSO LOWER -GMEX Roboticsdown 26.4% after announcing a 1-for-9 share consolidationNuvectisdown 19% after announcing a common stock offeringMama's Creationsdown 12.8% after announcing a common stock offering
BTC Digital Enters $7M Financing Agreement with Institutional Investors
BTC Digital announced that it has entered into definitive agreements with institutional investors for the purchase and sale of approximately $7M of Ordinary Shares and pre-funded and investor warrants at a price of $1.14 per Common Unit. The offering consisted of the sale of 6,140,350 Common Units, each consisting of one Ordinary Share or one Pre-Funded Warrant and two PIPE Common Warrants to purchase one Ordinary Share per warrant at an exercise price of $1.71. The offering price per Common Unit is $1.14. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full. For each Pre-Funded Unit sold in the offering, the number of Common Units in the offering will be decreased on a one-for-one basis. The initial exercise price of each Common Warrant is $1.71 per Ordinary Share. The Common Warrants are exercisable immediately and expire 60 months after the initial issuance date. Gross proceeds to the company are expected to be approximately $7M. The potential additional gross proceeds to the company from the Common Warrants, if fully-exercised on a cash basis, will be approximately $21M. No assurance can be given that any of warrants will be exercised. The transaction is expected to close on or about June 29, subject to the satisfaction of customary closing conditions. Aegis Capital is acting as exclusive placement agent for the private placement.
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