Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1431

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1431
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 2024. The assessment was based on criteria established in the framework Internal Control – Integrated Framework
(2013), issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management concluded
that we maintained effective internal control over financial reporting as of December 31, 2024.

As discussed in Note 4 to our consolidated financial statements, we
acquired Enovum Data Centers Corp, (“Enovum”) on October 11, 2024. As permitted by guidelines established by the SEC for newly
acquired business, we excluded Enovum Data from our assessment of internal control over financial reporting for the year ended December 31,
2024 . The total assets and total revenues of Enovum represent 15% and 1%, respectively, of the related consolidated financial statement
amounts as of and for the year ended December 31, 2024. 

Our independent registered public accounting firm,
Audit Alliance LLP, has issued an audit report on management’s assessment of internal control over financial reporting as of December
31, 2024. The report of Audit Alliance LLP is included below under the heading “Report of Independent Registered Public Accounting
Firm on Internal Control over Financial Reporting”.

(c) Changes in Internal Control over
Financial Reporting 

In October 2024, we acquired 100% of the equity
interests of Enovum. The Company has not yet completed an assessment of the design and/or operating effectiveness of Enovum’s internal
control over financial reporting. As part of our ongoing integration activities, we are incorporating our controls and procedures into
these recently acquired businesses.

Other than those changes made in connection with
the acquisitions of Enovum, there have been no changes in our internal controls over financial reporting during the quarter ended December
31, 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

104

Report of Independent Registered Public Accounting
Firm

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

Opinion on Internal Control over Financial
Reporting 

We have audited the internal control over financial
reporting of Bit Digital, Inc. and its subsidiaries (the “Company”) as of December 31, 2024, based on criteria established
in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO). In our opinion