Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 51

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 51
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 4,719   $19,093,364   $1,836,192   $17,257,172   Total digital intangible assets held as of September 30, 2025       $19,093,364   $1,836,192   $17,257,172  

The
cost of LsETH was initially recorded at fair value of LsETH on the date of receipt. Following the receipt of LsETH in July 2025,
the price of LsETH decreased, and the Company determined that the carrying amount of the LsETH exceeded its fair value during the period
ending September 30, 2025. The fair value of the LsETH is determined in accordance with ASC 820, Fair Value Measurement.
For the period ending September 30, 2025, the Company recorded an impairment loss of $1.8 million in the condensed consolidated
statement of operations within impairment of digital intangible assets.

25

7. OTHER
CURRENT ASSETS, NET

Other
current assets were comprised of the following:

    September
    30,  2025  
    December 31,
    2024 
  
    Deposits (a) 
    $        4,099,225  
    $        1,704,785 
  
    Prepayments to mining facilities (b) 
     -  
     290,475 
  
    Prepaid director and officer insurance expenses 
     408,175  
     219,471 
  
    Prepaid consulting service expenses 
     3,503,032  
     3,016,460 
  
    Deposit for lease 
     76,906  
     63,586 
  
    Deferred contract costs 
     982,039  
     982,039 
  
    Contract assets 
     807,322  
     - 
  
    Prepayment to third parties 
     8,301,833  
     15,526,472 
  
    Receivable from third parties 
     7,256,336  
     6,305,652 
  
    Others 
     441,662  
     210,729 
  
    Less: Current expected
    credit losses 
     (11,510) 
     - 
  
    Total 
    $25,865,020  
    $28,