Crypto mining company Bit Digital signed an agreement with an AI company and is expected to generate US$250 million in revenue within three years.

Crypto miner Bit Digital (BTBT) has signed a deal with an artificial intelligence company that will generate more than $250 million in additional revenue over three years. The move is aimed at expanding into artificial intelligence infrastructure to diversify the company's revenue streams. Bit Digital said it will purchase $35 million worth of GPUs to serve artificial intelligence clients and has sufficient internal capital to fund the acquisition. The company expects that the new unit will bring enough capital to Bit Digital to maintain its current Bitcoin mining and Ethereum staking operations regardless of market direction. As of September 30, the company had approximately $20.8 million in cash and $50.7 million worth of digital assets on its balance sheet. (CoinDesk)