The company plans to deploy these funds to retrofit existing facilities in Georgia, prioritizing the installation of liquid-cooling systems and power-supply equipment. CEO Siguang Peng stated that the firm aims to leverage its existing power access and land ownership to enter the AI market rapidly. Operations at the new site are expected to commence within six months, contingent on securing an anchor tenant for the facility.
BTC Digital Secures $28 Million for Georgia AI Data Center Expansion
BTC Digital Ltd. has finalized a private placement financing deal worth up to $28 million, securing $7 million in immediate capital to pivot its business model from cryptocurrency mining toward AI infrastructure. The funds will bankroll an 8-megawatt computing facility in Georgia, targeting the surging demand for specialized data processing power.
The Georgia site currently features 62 acres of land and a dedicated substation capable of supporting a 25-megawatt load. Under the proposed colocation model, BTC Digital will provide the physical infrastructure and power, while clients supply their own hardware and bear the associated risks. Future expansion beyond the initial 8MW will depend on market performance and tenant demand. Aegis Capital Corp. served as the exclusive placement agent for the transaction, which involved the sale of common and pre-funded units to institutional investors.
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