Summary by Moomoo AI
On October 14, 2024, Bit Digital, Inc. (Bit Digital) announced the successful acquisition of Enovum Data Centers Corp., a high-performance computing data center operator. The acquisition, which was completed through a newly formed Canadian subsidiary, involved the purchase of all issued and outstanding capital stock of Enovum for CAD $62,750,000, paid in cash and rollover shares, with post-closing adjustments. Enovum's existing debt was fully paid off, and an escrow was established to cover indemnification obligations. Senior Management of Enovum received rollover shares and entered into new employment agreements with Bit Digital. They were also awarded restricted share units (RSUs) under Bit Digital's 2023 Omnibus Equity Incentive Plan, with additional incentive equity compensation tied to future EBITDA performance. Enovum's Montreal...Show More
