Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2074

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 2074
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 U.S. GAAP financial metric for historical periods are presented in the table below: 

    For the Years Ended December 31, 

    2024  
    2023  
    2022 
  
    Reconciliation of non-GAAP income from operations: 

    Net income (loss) 
    $28,305,810  
    $(13,893,281) 
    $(105,296,603)
  
    Depreciation and amortization expenses 
     32,311,056  
     14,426,733  
     27,829,730 
  
    Income tax expenses (benefits) 
     3,978,167  
     279,044  
     (592,850)
  
    EBITDA 
     64,595,033  
     812,496  
     (78,059,723)

    Adjustments: 

    Share based compensation expenses 
     9,876,368  
     9,118,812  
     2,262,691 
  
    Loss on write-off of deposit to hosting facility 
     -  
     2,041,491  
     129,845 
  
    Net loss (gain) from disposal of property and equipment 
     859,083  
     165,160  
     (1,353,299)
  
    Gain from sale of investment security 
     -  
     (8,220) 
     (1,039,999)
  
    Loss (gain) from disposal of a subsidiary 
     978,938  
     -  
     (52,383)
  
    Changes in fair value of long-term investments 
     (3,308,144) 
     306,612  
     545,412 
  
    Liquidated damage expenses 
     -  
     -  
     619,355 
  
    Impairment of property and equipment 
     -  
     -  
     50,038,650 
  
    Adjusted EBITDA 
    $73,001,278  
    $12,436,351  
    $(26,909,451)

Liquidity and capital resources

As of December 31, 2024, we had working capital
of $241.8 million which includes