Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 47

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 47
---
 Year 
    Operating Lease 
  
    2025 
    $13,021 
  
    2026 
     26,042 
  
    2027 
     26,042 
  
    2028 
     26,042 
  
    2029 
     26,042 
  
    Thereafter 
     73,785 
  
    Total future receipts 
     190,974 

26

9. PROPERTY, PLANT, AND EQUIPMENT, NET

Property, plant and equipment, net was comprised
of the following:

    June 30, 2025  
    December 31, 2024 
  
    Miners for Bitcoin 
    $44,862,716  
    $37,484,751 
  
    Cloud service equipment 
     99,492,846  
     63,360,624 
  
    Colocation service equipment 
     15,133,931  
     12,509,288 
  
    Purchased and internal-use software development costs 
     2,493,397  
     495,285 
  
    Land 
     10,773,232  
     3,502,539 
  
    Building 
     56,399,860  
     19,474,743 
  
    Leasehold Improvements 
     2,450,025  
     2,032,691 
  
    Vehicle 
     235,576  
     235,576 
  
    Other property and equipment 
     30,276  
     29,066 

    Less: Accumulated depreciation 
     (48,005,905) 
     (36,946,762)

     183,865,954  
     102,177,801 
  
    Construction in progress 
     70,054,982  
     5,124,657 
  
    Property, plant, and equipment, net 
    $253,920,936  
    $107,302,458 

For the six months ended June 30, 2025 and 2024,
depreciation expenses were $8,223,538 and $8,346,633, respectively. Construction in Progress represents assets received but not placed
into service as of June 30, 2025 and December 31, 2024.

During the quarter ended March 31,