Bit Digital has acquired a site in the Montreal suburb of Pointe Claire, Que., for a data centre development project.

The purchase is part of the New York-based company’s broader strategy to expand its data centre capacity to 32 megawatts by 2025. The project forms a segment of the firm’s 288-megawatt proprietary pipeline launched in 2024.

Bit said the Montreal-area property, known as MTL2, was acquired on December 27 for $33.5 million. The company funded the transaction with cash and is currently securing mortgage financing to cover both the acquisition and development costs.

The company estimates that an additional investment of $27.6 million will be required to retrofit the facility to Tier-3 standards. Once completed, the data centre will support a five-megawatt gross load and is expected to be operational by May 2025. The 160,000-square-foot property formerly served as an encapsulation manufacturing facility.

Bit Digital plans to integrate advanced cooling technology into the facility, including direct-to-chip liquid cooling systems. These systems enhance energy efficiency and enable the centre to handle high-performance workloads, such as artificial intelligence applications, with rack densities of up to 150 kilowatts. The company is also collaborating with third parties to implement a heat-reject loop, further bolstering the facility’s sustainability profile. The data centre will run entirely on renewable hydroelectric power sourced from Hydro-Quebec.

The property’s existing infrastructure, valued at about $750,000, includes advanced HVAC equipment, which will help reduce development costs and accelerate the timeline for the project. Additionally, the site offers the potential for future expansion to accommodate market demands.

“This site acquisition marks an important step forward in our data-centre growth plans,” said Sam Tabar, Bit’s CEO.

He touted the property’s location as a highly coveted commercial real estate location. By leveraging the existing infrastructure, he added, Bit can lower its development costs and accelerate time to market – a key advantage and core tenet of the firm’s development strategy.

Tabar also noted that the project aligns with the needs of a new customer, who plans to utilize the facility’s capacity with next-generation Nvidia microchips.

“We are in the process of securing cost-effective mortgage financing for this project which we intend to announce upon finalization,” said Tabar. “We believe this will ultimately showcase Bit Digital’s ability to cost-effectively finance its data-centre buildout in a non-dilutive manner.”

Bit specializes in data centre development and Bitcoin mining.

Pictured: Montreal property owned by Bit Digital subsidiary Enovum