Bitcoin mining firm Bit Digital is making a major strategic shift with the acquisition of a $53.2 million industrial facility in Madison, North Carolina.
The deal, made through its Canadian subsidiary Enovum Data Centers, involves the purchase of property formerly owned by textile company Unifi.
The transaction includes factory buildings, land, and select equipment and is expected to close by May 15, pending standard conditions and a site energy study.
The move marks a key milestone in Bit Digital’s transformation from traditional Bitcoin mining toward high-performance computing (HPC) for artificial intelligence workloads.
The development reflects broader industry trends that prioritize diversified infrastructure and scalable AI platforms.
Strategic Pivot: From Bitcoin Mining to AI Infrastructure
This acquisition forms part of Bit Digital’s larger effort to pivot away from the increasingly competitive and energy-intensive Bitcoin mining sector.
The company has rebranded its data center operations under the “WhiteFiber” platform, signaling a clear direction toward AI and high-performance computing solutions.
The new North Carolina facility will serve as a cornerstone in this strategy, complementing an existing retrofit of a Tier 3 facility in Québec, Canada.
The Québec site is being upgraded to fulfill a 5-megawatt colocation agreement with Cerebras Systems, a leading generative AI firm.
The North Carolina facility is expected to enhance Bit Digital’s ability to support similar AI-driven workloads and expand its service offerings in the data infrastructure space.
Financial Details and Risk Structure of the Deal
Bit Digital placed a $2.25 million deposit to secure the North Carolina property, with $1.2 million designated as non-refundable.
The purchase agreement includes limited indemnification clauses, with the seller, UMI, having its liability capped at 10% of the purchase price.
The cautious financial structuring indicates Bit Digital’s risk-aware approach as it enters a new operational phase.
The acquisition is not just a real estate purchase, it is a long-term infrastructure investment aimed at repositioning Bit Digital as a hybrid player in the digital economy, capable of servicing both blockchain and AI markets.
Pending the completion of an energy capacity study, the company will move forward with adapting the site to meet the high power and cooling demands of AI hardware.
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Bitcoin Mining Takes a Backseat as Focus Shifts
While Bit Digital continues to hold its identity as a Bitcoin mining entity, recent moves suggest a significant downscaling of its mining operations.
The company has not published its monthly Bitcoin production reports since February 2025, indicating a possible pause or transition period.
Additionally, previously hosted miners at Coinmint’s facility in New York are in the process of being redeployed, though no formal details have been provided.
As the company repositions itself, its growing focus on AI-related infrastructure and cloud services through WhiteFiber signals a forward-thinking strategy to remain relevant and competitive.
Industry-Wide Trends Reinforce Bit Digital’s New Direction
Bit Digital’s strategic evolution mirrors broader shifts in the crypto-mining sector.
Hut 8, for instance, has partnered with Eric Trump to launch a new American Bitcoin mining venture with over 50 EH/s capacity, while Crusoe Energy is exiting mining entirely to focus on AI, selling its 270MW infrastructure and 425 data centers to NYDIG.
Meanwhile, Pakistan is exploring crypto mining as a means to utilize surplus power.
These developments highlight a pattern: industry players are diversifying, seeking new applications for their infrastructure in AI, cloud computing, and alternative energy.
Bit Digital’s $53 million investment in North Carolina places it squarely within this trend, potentially giving it a competitive edge as AI and decentralized computing continue to converge.