Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2153

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 2153
---
) 
     (27,829,730)
  
    General and administrative expenses 
     (41,508,279) 
     (27,668,592) 
     (22,984,784)
  
    Gains on digital assets 
     55,709,711  
     -  
     - 
  
    Realized gain on exchange of digital assets 
     -  
     18,789,998  
     6,548,841 
  
    Impairment of digital assets 
     -  
     (6,632,437) 
     (24,654,267)
  
    Impairment of property and equipment 
     -  
     -  
     (50,038,650)
  
    Loss on write-off of deposit to hosting facility 
     -  
     (2,041,491) 
     (129,845)
  
    Other income (expense), net 
     4,720,713  
     3,005,472  
     1,277,022 
  
    Income tax (expenses) benefits 
     (3,978,167) 
     (279,044) 
     592,850 
  
    Net income (loss) 
    $28,305,810  
    $(13,893,281) 
    $(105,296,603)

F-41

18. RELATED PARTIES

On February 7, 2023 and again on December 8, 2023,
the Board of Directors declared an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”).
Erke Huang, our Chief Financial Officer, is the President of Geney and the beneficial owner of thirty (30%) percent of the equity of Geney,
with the remaining seventy (70%) percent held by Zhaohui Deng, the Company’s Chairman of the Board. As of December 31, 2023, the
Company fully paid the dividend.

On December 20, 2024, the Board of Directors declared
an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”). Erke Huang, our Chief
Financial Officer, is the President of Geney and the beneficial owner of thirty percent (30%) of the equity of Geney