Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 66

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 66
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July 25, 2025, the Company granted 20,000 RSUs to an employee, which are subjected to a fourteen-quarter service vesting schedule.

In
August 2025, an employee left the Company and 166,667 RSUs were forfeited.

In
August 2025, in connection with WhiteFiber’s initial public offering, 1,329,037 outstanding and unvested RSUs of the Company held
by employees were cancelled and replaced with awards issued from the WhiteFiber 2025 Plan.

On
September 30, 2025, the Company granted 325,000 RSUs to each of the Company’s Chief Executive Officer and Chief Financial Officer
in accordance with their compensation arrangements. All of these RSUs were immediately vested.

For
the three months ended September 30, 2025 and 2024, the Company recognized share-based compensation expenses of $6,941,175 and $4,953,839,
respectively. For the nine months ended September 30, 2025 and 2024, the Company recognized share-based compensation expenses of $14,208,394
and $5,724,474, respectively. As of September 30, 2025, the Company had $279,310 unrecognized compensation costs related to the unvested
RSUs.

As
of September 30, 2025, the Company had 133,198 awarded and unvested RSUs.

Share
Options

For
the three months ended September 30, 2025 and 2024, the Company did not grant any options.

The
Company recognizes compensation expenses related to options on a straight-line basis over the vesting periods. For the three months ended
September 30, 2025 and 2024, the Company recognized share-based compensation expenses of $1,923 and $41,178, respectively. For the nine
months ended September 30, 2025 and 2024, the Company recognized share-based compensation expenses of $54,420 and $186,878, respectively.
As of September 30, 2025, the Company had no unrecognized compensation costs related to all outstanding share options.

Other
share-based compensation

In
January 2025, the Company entered into separate one-year service agreements with three consultants by granting each 150,000 RSUs, all
of which vested immediately. Over the duration of the service agreement, the Company will recognize share-based compensation expenses
ag