Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 282

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 282
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claims for breach of contract, conversion, and related claims in connection with, among other things, certain deposits and advances paid
to Blockfusion, the return of which is owed to the Company. The Company is seeking in excess of $4.3 million. On October 22, 2024, Blockfusion
denied the Company’s claims and brought reciprocal breach of contract and related counterclaims. Blockfusion is seeking at least
$158,000 in damages. A bench trial has been scheduled for June 29, 2026. Refer to Note 19. Contingencies for further details.

Miner Fleet Update and Overview 

As of December 31, 2023, we had 46,548 miners
owned or operating (in Iceland) for bitcoin mining with a total maximum hash rate of 3.9 EH/s.

On January 25, 2024, we entered into a purchase
agreement with an unaffiliated seller of bitcoin mining computers, from whom we acquired 2,350 S19 Pro miners. As of the date of this
report, all miners have been delivered.

On April 15, 2024, we entered into a purchase
agreement with an unaffiliated seller of bitcoin mining computers, from whom we acquired 1,146 S19K Pro miners. As of the date of this
report, all miners have been delivered.

On December 10, 2024, we entered into an agreement
with an unaffiliated seller of bitcoin mining computers, from whom we acquired 191 S21 miners. As of the date of this report, none of
the miners were delivered.

On December 15, 2024, we entered into an agreement
with an unaffiliated seller of bitcoin mining computers, from whom we acquired 750 S21 miners. As of the date of this report, none of
the miners were delivered.

On December 23, 2024, we entered into an agreement
with an unaffiliated seller of bitcoin mining computers, from whom we acquired 4,300 S21+ miners. As of the date of this report, none
of the miners were delivered.

For the year ended December 31, 2024, the Company
disposed approximately 25,495 bitcoin miners.

As of December 31, 2024, we had 24,239 miners
owned or operating (in Iceland) for bitcoin mining with a total maximum hash rate of 2.6 EH/s.

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