Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1022

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1C
Chunk 1022
---
    2027  
    2028  
    2029  
    Total 
  
    Colocation Services 
    $8,683,713  
    $4,853,947  
    $1,097,674  
    $29,143  
    $-  
    $14,664,477 
  
    Other Revenue 
     1,010,070  
     640,543  
     360,111  
     222,236  
    $67,682  
     2,300,642 
  
    Total contract liabilities 
    $9,693,783  
    $5,494,490  
    $1,457,785  
    $251,379  
    $67,682  
    $16,965,119 

4. Acquisitions

On October
11, 2024, the Company acquired 100% of Enovum Data Centers Corp (the “Acquiree” or “Enovum”), an owner, operator,
and developer of high-performance computing data centers, incorporated in Montreal, Quebec, Canada. The acquisition of Enovum provides
the Company with a strong diversity of existing and prospective colocation customers, delivers a strong pipeline of expansion site opportunities
and an experienced management team to lead the development processes, and enables the Company to offer new service offerings. The acquisition
creates the potential for significant synergies, as the Company may capture additional margin from HPC customers, versus hosting them
with third party data centers. Additionally, Enovum enhances the Company’s competitive positioning in the marketplace, enabling
the Company to offer an integrated GPU cloud solution to customers. Finally, the Company will enjoy greater operating flexibility by collocating
its owned GPU inventory in Enovum data centers, offering capacity to customers on a just-in-time basis.

F-22

The acquisition-date
fair value of the consideration transferred totaled $43,834,313. The total consideration consists of $38,993,603 of cash consideration
and $4,840,710 in equity-classified exchangeable shares. The acquisition-date fair value of the exchangeable shares was determined based
on the opening market price of the Company’s ordinary shares as of the acquisition date.

The following
table summarizes the preliminary allocation of the purchase price based on the estimated fair value of the assets acquired and liabilities
assumed at the acquisition date:

    Accounts receivable