Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 254

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 254
---
,  
    For the Nine Months Ended
    September 30, 

    2025  
    2024  
    2025  
    2024 

    Reconciliation of non-GAAP
    income (loss) from operations: 

    Net
    income (loss) 
    $146,724,810  
    $(38,795,486) 
    $103,887,367  
    $(666,729)
  
    Depreciation and amortization
    expenses 
     9,636,039  
     8,383,055  
     25,101,566  
     23,575,637 
  
    Income
    tax expenses 
     697,668  
     628,230  
     2,960,941  
     2,747,361 
  
    EBITDA 
     157,058,517  
     (29,784,201) 
     131,949,874  
     25,656,269 

    Adjustments: 

    Net loss from disposal
    of property, plant and equipment 
     539,378  
     -  
     872,998  
     - 
  
    Share based compensation
    expenses 
     16,292,948  
     7,095,017  
     25,802,664  
     10,076,352 
  
    Changes in fair value
    of long-term investments 
     (7,121,391) 
     2,040,185  
     (6,245,819) 
     (1,173,549)
  
    Loss
    from divesture of a subsidiary 
     -  
     978,938  
     -  
     978,938 
  
    Adjusted
    EBITDA 
    $166,769,452  
    $(19,670,061) 
    $152,379,717  
    $35,538,010 

Liquidity
and capital resources

As
of September 30, 2025, we had working capital of $634.3 million which includes USDC of $1.0 million, digital assets of $423.7 million
and digital intangible assets of $17.3