Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2271

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7A
Chunk 2271
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 a wholly owned subsidiary of Mega Matrix Corp., entered into a shareholders’ agreement
with MarsProtocol Technologies Pte. Ltd. (“MarsProtocol”). MarsProtocol provides staking technology tools in digital assets
through the staking platform.

The Company invested $88,994 which represents a 40% equity interest
in MarsProtocol. The Company used the equity method to measure the investment in MarsProtocol. In August 2023, the Company divested its
stake in MarsProtocol for consideration of $89,519 and recognized a gain of $8,220.  

11. OTHER NON-CURRENT ASSETS

Other non-current assets were comprised of the
following:

    December 31,  2024  
    December 31,  2023 
  
    Deposits (a) 
    $7,103,560  
    $6,680,051 
  
    Prepaid consulting service expenses 
     -  
     543,200 
  
    Deferred contract costs 
     982,039  
     1,883,333 
  
    Others 
     1,494,285  
     183,655 
  
    Total 
    $9,579,884  
    $9,290,239 

  (a) As of December 31, 2024 and 2023, the balance of deposits primarily consisted of the deposits made to service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due over 12 months from the effective date of the agreement. 

F-32

12. SHARE-BASED COMPENSATION

Share-based compensation such as restricted stock
units (“RSUs”), incentive and non-statutory stock options, restricted shares, share appreciation rights and share payments
may be granted to any directors, employees and consultants of the Company or affiliated companies under 2021 Omnibus Equity Incentive
Plan (“2021 Plan”), 2021 Second Omnibus Equity Incentive Plan (“2021 Second Plan”) and 2023 Omnibus Equity Incentive
Plan (“2023 Plan”). An aggregate of 2,415,293 RSUs were granted under the 2021 Plan and no ordinary shares remain reserved
for issuance under the 2021 Plan. There are 5,000,000 ordinary shares reserved for issuance under the Company’s 2021 Second