Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2449

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 2449
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ey is owned seventy (70%) percent by Zhaohui Deng, Chairman of the Board of the Company, and thirty (30%)
percent beneficially owned by Erke Huang, through his ownership of EverGreen Holdings Limited, the Company’s Chief Financial Officer
and a director of the Company. Under the SEA, Geney exchanged 1,000,000 Ordinary Shares for 1,000,000 Preference Shares. Each Preference
Share provides for: (i) an eight (8%) percent annual dividend when declared by the Board; (ii) a liquidation preference of $10
per share (an aggregate of $10 million) senior to Ordinary Shares; (iii) converts on a one-for-one basis, subject to a 4.99% blocker;
and (iv) fifty (50) votes per Preference Share in order for management to carry out its intended business plan. The Company paid
dividends of $800,000 to Geney on February 7, 2023, December 8, 2023 and December 20, 2024 for the fiscal years ending December 31, 2022,2023
and 2024, respectively, pursuant to its 1,000,000 Preferred Shares.

116

Item 14. Principal Accountant Fees and Services

The following table sets forth the aggregate fees
by categories specified below in connection with certain professional services rendered by our principal external auditors, for the periods
indicated.

    Year Ended December 31, 2023  
    Year Ended December 31, 2024 

    Audit fees(1) 
    $162,670  
    $304,300 
  
    Audit related fees(2) 
     13,003  
    $100,560 
  
    Tax fees(3) 
     -  

    All other fees(4) 
     -  

    Total 
    $175,673  
    $404,860 

The policy of our audit committee and our board
of directors is to pre-approve all audit and non-audit services provided by our principal auditors, including audit services, audit related
services, and other services as described above, other than those for de minimis services, which are approved by the audit committee or
our board of directors.

As defined by the SEC, (i) “audit fees”
are fees for professional services rendered by our principal accountant for the