Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 251

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 251
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 represents the present value of the lease payments not yet received from lessee. The current and non-current balance
of net investment in lease was $4.1 million and $10.8 million, respectively as of September 30, 2025. The current and non-current balance
of net investment in lease was $2.5 million and $6.8 million, respectively as of December 31, 2024.

Deposits
for property, plant, and equipment

The
deposits for property, plant, and equipment consists of advance payments for property, plant, and equipment. The balance was derecognized
once the control of the property, plant, and equipment was transferred to and obtained by us.

Compared
with December 31, 2024, the balance as of September 30, 2025 decreased $29.1 million, mainly due to the receipt of property and equipment
of $121.1 million, offset by prepayment of $92.0 million for property, plant and equipment.

68

Property,
plant, and equipment, net

Property,
plant, and equipment primarily consisted of equipment used in our HPC business and digital asset business as well as construction in
progress representing assets received but not yet put into service.

As
of September 30, 2025, we had 21,357 bitcoin miners with net book value of $27.1 million, cloud service computing equipment with a net
book value of $114.8 million, property, plant, and equipment for colocation service with a net book value of $83.0 million, and construction
in progress of $43.1 million.

As
of December 31, 2024, we had 24,239 bitcoin miners with net book value of $17.9 million, cloud service computing equipment with a net
book value of $47.2 million, property, plant, and equipment acquired as part of the acquisition of Enovum with a net book value of $36.4
million for colocation service, and construction in progress of $5.1 million.

Operating
lease right-of-use assets and operating lease liability

As
of September 30, 2025, the Company’s operating lease right-of-use assets and total operating lease liability were $42.8 million
and $41.9 million respectively. As of December 31, 2024, the Company’s operating lease right-of-use assets and total operating
lease liability were