Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 743

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 743
---
, malicious email quarantine, and reporting.
The Head of IT will be notified and proceed accordingly if an event or incident requires input.

Additionally, the Company’s management leverages manual controls
to verify data integrity and mitigate risk, considering the Company’s size and business model. Management also provides interim
and year-end reports to the Board of Directors on the Company’s and its subsidiaries’ IT General controls (ITGC) related to
cybersecurity and information security matters.

In 2024, we did not identify any cybersecurity
events that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial
condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats, or provide assurances that we have
not experienced an undetected cybersecurity incident. For more information about these risks, please see “Risk Factors—
Cyberattacks and security breaches of our system, or those impacting our third parties, could adversely impact our brand and reputation
and our business, operating results, and financial condition.” and “We may suffer significant and adverse effects due to hacking
or one or more adverse software events”.

74

Item 2. Properties

Our principal executive office is located at 31
Hudson Yards, 11th Floor, New York, New York, United States 10001. The lease for our principal executive office is for a term
ending July 31, 2027, with a monthly rental of $13,861.

Enovum maintains a 64,642 square foot data center
located at 3195 de Bedford Road, Montreal, Quebec, H3S, IGS. The lease was first entered into on March 19, 2020 and last amended on March
25, 2022. The lease is for a term of 15 years and nine months ending on May 31, 2036, unless terminated earlier. The lease has been two
five-year renewal options, from June 1, 2036 to May 31, 2041 and from June 1, 2041 until May 31, 2046. The base rent started at $13,467,
is currently $32,321 until May 31, 2025 and increases to $42,394 by the end of the lease. Additional rent is Enovum’s proportionate
share of operating costs and of real estate taxes, as well as an administrative fee equal to 15% of Enovum’s proportionate