Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 158

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 158
---
 (40,267,700)
  
    Exchange of BTC into USDC 
     (35.0) 
     (1,787,535)
  
    Sales of and payments made in BTC 
     (175.9) 
     (15,316,858)
  
    Change in fair value of BTC 
     -  
     40,939,917 
  
    Balance at December 31, 2024 
     741.9  
    $69,319,731 

(1)Receipt
of digital assets from mining services are the product of the number of bitcoins received multiplied by the bitcoin price obtained from
CoinMarketCap, calculated on a daily basis. Sales of bitcoin represent the carrying value of bitcoin at the time of sale.

Environmental,
Social and Governance  

Sustainability is a major strategic focus for
us. Several of our mining locations in the US and Canada provide access to partially carbon-free energy and other sustainability-related
solutions, in varying amounts depending on location, including components of hydroelectric, solar, wind, nuclear and other carbon-free
generation sources, based on information provided by our hosts and publicly available data, which we believe helps mitigate the environmental
impact of our operations. We work with an independent ESG (Environmental, Social and Governance) consultant to self-monitor and adopt
an environmental policy to help us to improve our percentage of green electricity and other sustainability initiatives. As we continue
to align ourselves with the future of technology and business, we are dedicated to continuously enhancing sustainability, which we believe
future-proofs our operations and the larger bitcoin network.

We believe that the bitcoin network and the mining
that powers it are important inventions in human progress. The process of problem-solving and verifying bitcoin transactions using advanced
computers is energy intensive, and scrutiny has been applied to the industry for this reason. It follows that the environmental costs
of mining bitcoin should be surveyed and mitigated by every company in our fast-growing sector. We aim to contribute to the acceleration
of bitcoin’s decarbonization and act as a role model in our industry, responsibly stewarding digital assets.

We work with Apex Group Ltd, an independent ESG
consultancy, with the goal of becoming one the first publicly-listed bitcoin miners to receive an independent ESG rating on our operations,
which we anticipate will provide transparency on the environmental sustainability of our operations, as well as other metrics. Apex’s
ESG Ratings & Advisory tools allow us to