Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1351

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1351
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 and liabilities on the dates of the unaudited condensed consolidated
financial statements, and to disclose the reported amounts of revenues and expenses incurred during the financial reporting periods. The
most significant estimates and assumptions include the valuation of digital assets and other current assets, useful lives of property
and equipment, the recoverability of long-lived assets, provision necessary for contingent liabilities and realization of deferred tax
assets. We continue to evaluate these estimates and assumptions that we believe to be reasonable under the circumstances. We rely on these
evaluations as the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other
sources. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those
estimates as a result of changes in our estimates. Some of our accounting policies require higher degrees of judgment than others in their
application. We believe critical accounting policies as disclosed in this release reflect the more significant judgments and estimates
used in preparation of our unaudited condensed consolidated financial statements.  

Item 7A. Quantitative and Qualitative Disclosures
About Market Risk

A smaller reporting company is not required to
provide the information required by this Item.

102

Item 8. Financial Statements and Supplementary
Data

  Report of Independent Public Accounting Firm (PCAOB ID # 3487)   F-2  Audited Consolidated Financial Statements      Consolidated Balance Sheets as of December 31, 2024 and 2023   F-4  Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2024, 2023 and 2022   F-5  Consolidated Statements of Equity for the years ended December 31, 2024, 2023 and 2022   F-6  Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 2022   F-7  Notes to Consolidated Financial Statements   F-8 

F-1

Report
of Independent Public Accounting Firm

To the shareholders and board of directors of
Bit Digital, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated
balance sheets of Bit Digital, Inc. and its subsidiaries (collectively, the “Company”) as of December 31, 2024 and 2023, the
related consolidated statements of operations and comprehensive income (loss), shareholders’ equity, and cash flows for