Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 203

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 203
---
-term liabilities 
     392,686  
     785,372  
     (392,686)
  
    Non-current portion of deferred revenue 
     28,046  
     73,494  
     (45,448)
  
    Non-current portion of operating lease liability 
     38,257,665  
     9,276,926  
     28,980,739 
  
    Long-term income tax payable 
     3,196,204  
     3,196,204  
     - 
  
    Deferred tax liability 
     8,259,351  
     6,409,915  
     1,849,436 
  
    Total Non-Current Liabilities 
     50,133,952  
     19,741,911  
     30,392,041 

    Total Liabilities 
    $90,230,393  
    $74,768,515  
    $15,461,878 

65

Cash and cash equivalents

Cash and cash equivalents primarily consist of
funds deposited with banks, which are highly liquid and are unrestricted to withdrawal or use. The total balance of cash and cash equivalents
were $181.2 million and $95.2 million as of June 30, 2025 and December 31, 2024, respectively. The increase in the balance of cash and
cash equivalents was a result of net cash of $35.1 million provided by operating activities and net cash of $199.3 million provided by
financing activities, partially offset by net cash of $148.2 million used in investing activities.

Accounts receivable, net

Accounts receivable consists of amounts due from
our customers. The total balance of accounts receivable was $6.5 million and $5.3 million as of June 30, 2025 and December 31, 2024, respectively.
The increase in the balance of accounts receivable is attributable to unpaid invoices from our customers.

USDC

USD Coin (“USDC”) is accounted for
as a financial instrument; one USDC can be redeemed for one U.S. dollar on demand from the issuer. The balance of USDC was $0.5 million
and $0.4 million as of June 30, 2025 and December 31, 2024, respectively. The increase in the balance of USDC was primarily