Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1971

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 6
Chunk 1971
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 ended December 31, 2024,  the
Company earned revenue of approximately $58.6 million and $46.0 million from two customers, representing 54.2% and 42.6%
of the Company’s total consolidated revenue, respectively. In 2023 and 2022, the Company earned revenue of approximately $44.2 million
and $32.3 million respectively from one customer, representing 98% and 99.9% of the Company’s total consolidated revenue.

The following table presents revenue and cost
of revenue for the Company’s reportable segments, reconciled to the consolidated statements of operations:

    Years Ended December 31, 

    2024  
    2023  
    2022 
  
    Reportable segment revenue: 

    Digital asset mining 
    $58,591,608  
    $44,240,418  
    $32,270,689 
  
    Cloud services 
     45,727,735  
     -  
     - 
  
    Colocation services 
     1,361,241  
     -  
     - 
  
    ETH staking 
     1,819,876  
     675,713  
     25,904 
  
    Other revenue 
     550,260  
     -  
     - 
  
    Total segment and consolidated revenue 
    $108,050,720  
    $44,916,131  
    $32,296,593 

    Reportable segment cost of revenue: 

    Digital asset mining 
     (42,307,012) 
     (29,505,783) 
     (20,374,633)
  
    Cloud services 
     (19,508,252) 
     -  
     - 
  
    Colocation services 
     (490,501) 
     -  
     - 
  
    ETH staking 
     (72,067) 
     (50,802) 
     - 
  
    Total segment and consolidated cost of revenue 
    $(62,377,832) 
    $(29,556,585) 
    $(20,374,633)

    Reconciling Items: 

    Depreciation and amortization expenses 
     (32,311,056)