Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1051

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1C
Chunk 1051
---
    Basic 
    $0.20  
    $(0.16) 
    $(1.34)
  
    Diluted 
    $0.19  
    $(0.16) 
    $(1.34)

Basic earnings (loss) per share is computed by
dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during
the period. The computation of diluted net income reflects the potential dilution that could occur if securities or other contracts to
issue ordinary share were exercised or converted into ordinary shares or resulted in the issuance of ordinary shares that then shared
in the earnings of the entity. The computation of diluted net loss per share does not include dilutive ordinary shares equivalents in
the weighted average shares outstanding, as they would be anti-dilutive.

For the year ended December 31, 2024, the dilutive
effect of preferred shares, unvested options, and unvested RSUs were included in the calculation of diluted earnings per share. The warrants
were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

For the years ended December 31, 2023, and 2022,
the unvested RSUs, warrants, options and convertible preferred shares were excluded from the calculation of diluted earnings per share
because they were anti-dilutive.

F-40

17. SEGMENT REPORTING

The Company has four reportable segments: digital
asset mining, cloud services, colocation services, and ETH Staking. The reportable segments are identified based on the types of service
performed.

The digital asset mining segment generates revenue
from the bitcoin the Company earns through its mining activities. Cost of revenue consists primarily of direct production costs of mining
operations, including electricity, management fee and maintenance cost but excluding depreciation and amortization.  

The cloud services segment generates revenue from
providing high performance computing services to support generative AI workstreams. Cost of revenue consists of direct production costs,
including electricity costs, data center lease expense, GPU servers lease expense, and other relevant costs, but excluding depreciation
and amortization.

Colocation services generate revenue by providing
customers with physical space, power and cooling within the data center facility. Cost of revenue consists of direct production costs
related to our HPC data center services, including electricity costs, lease costs and other relevant costs.

The Ethereum staking segment generates revenue
from both native staking and liquid st