Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 125

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 125
---
, future equity
issuances would result in dilution to our existing stockholders and any future debt or debt securities may contain covenants that limit
our operations or ability to enter into certain transactions. Our ability to realize revenue through conversion of digital assets into
cash or fund overhead with digital assets is subject to a number of risks, including regulatory, financial and business risks, many of
which are beyond our control. Additionally, the value of digital asset rewards has historically been extremely volatile, and future prices
cannot be predicted.

If we are unable to generate sufficient revenue
when needed or secure additional funding, it may become necessary to significantly reduce our current rate of expansion or to explore
other strategic alternatives.

Cash flows

    For the Six Months Ended
 June
    30, 

    2025  
    2024 
  
    Net Cash Provided by (Used in) Operating Activities 
    $35,095,075  
    $(30,370,425)
  
    Net Cash Used in Investing Activities 
     (148,240,379) 
     (6,660,262)
  
    Net Cash Provided by Financing Activities 
     199,313,693  
     80,273,917 
  
    Net (decrease) increase in cash, cash equivalents and restricted cash 
     86,168,389  
     43,243,230 
  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash 
     (203,877) 
     - 
  
    Cash, cash equivalents and restricted cash, beginning of period 
     98,934,127  
     18,180,934 
  
    Cash, cash equivalents and restricted cash, end of period 
    $184,898,639  
    $61,424,164 

70

Operating Activities

Net cash provided by operating activities was
$35.1 million for the six months ended June 30, 2025, derived mainly from (i) a net loss of $42.8 million for the six months ended June
30, 2025 adjusted for digital assets mined of $14.4 million from our mining services, depreciation expenses and amortization expense of
$15.5 million, losses on digital assets of $22.1 million, share based compensation expenses of $7.1 million, loss from disposal of property,
plant, and equipment of $0.3 million, and changes in