Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1319

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1319
---
)
  
    Gains on digital assets 
     55,709,711  
     -  
     55,709,711 
  
    Realized gain on exchange of digital assets 
     -  
     18,789,998  
     (18,789,998)
  
    Impairment of digital assets 
     -  
     (6,632,437) 
     6,632,437 
  
    Loss on write-off of deposit to hosting facility 
     -  
     (2,041,491) 
     2,041,491 
  
    Total operating expenses 
     (80,487,456) 
     (61,535,840) 
     (18,951,616)

    (Loss) income from operations 
     27,563,264  
     (16,619,709) 
     44,182,973 

    Net loss from disposal of property and equipment 
     (859,083) 
     (165,160) 
     (693,923)
  
    Gain from sale of investment security 
     -  
     8,220  
     (8,220)
  
    Other income, net 
     5,579,796  
     3,162,412  
     2,417,384 
  
    Total other income (expense), net 
     4,720,713  
     3,005,472  
     1,715,241 

    Income (loss) before income taxes 
     32,283,977  
     (13,614,237) 
     45,898,214 

    Income tax expenses 
     (3,978,167) 
     (279,044) 
     (3,699,123)
  
    Net income (loss) 
    $28,305,810  
     (13,893,281) 
     42,199,091 

84

Revenue

We generate revenues from cloud services, colocation
services, digital asset mining, and ETH staking businesses.

Revenue from cloud services

In the fourth quarter of 2023, we initiated WhiteFiber
AI, a new business line to provide cloud services to support generative AI workstreams. The Company commenced the cloud services in January