Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 969

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1C
Chunk 969
---
544,335 
  
    Dividend payable 
     800,000  
     -  
     800,000 
  
    Other payables and accrued liabilities 
     13,985,375  
     9,775,718  
     4,209,657 
  
    Total Current Liabilities 
     55,026,604  
     27,081,262  
     27,945,342 

    Other long-term liabilities 
     785,372  
     1,883,333  
     (1,097,961)
  
    Non-current portion of deferred revenue 
     73,494  
     -  
     73,494 
  
    Non-current portion of operating lease liability 
     9,276,926  
     4,351,476  
     4,925,450 
  
    Long-term income tax payable 
     3,196,204  
     3,196,204  
     - 
  
    Deferred tax liability 
     6,409,915  
     112,251  
     6,297,664 
  
    Total Liabilities 
    $74,768,515  
    $36,624,526  
    $38,143,989 

95

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 $95.2 million and $16.9 million as of December 31, 2024 and December 31, 2023, respectively. The increase in the balance of cash
and cash equivalents was a result of net cash of $242.9 million provided by financing activities, partially offset by net cash of $13.0
million used in operating activities, and net cash of $149.0 million used in investing activities.

Accounts receivable, net

Accounts receivable consists of amounts due from
our customer. The total balance of accounts receivable was $5.3 million and $nil as of December 31, 2024 and December 31, 2023, respectively.
The increase in the balance of accounts receivable is attributable to unpaid invoices from our cloud services customers and colocation
services customers.

USDC

USD Coin (“USDC”) is accounted for
as a