Bit Digital (NASDAQ:BTBT) and BitMine Immersion Technologies signed a LOI to establish a hosting relationship commencing with 7K current generation ASIC miners. The final agreement is expected to be completed in the upcoming weeks. The companies have agreed in principle to a mutually beneficial revenue split of the mined Bitcoin, and a multi-year term. Bit Digital and BitMine Immersion intend to begin delivery in the coming weeks and months and fill the capacity by August end. Shares trading 1.9% higher premarket.
