Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 772

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 772
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 earnings (loss) per share

For the year ended December 31, 2024, our net
income was $28.3 million, representing a change of $42.2 million from a net loss of $13.9 million for the year ended December 31, 2023.

Basic and diluted earnings per share was $0.20
and $0.19 for the year ended December 31, 2024, respectively. Basic and diluted loss per share was $0.16 and $0.16 for the year ended
December 31, 2023, respectively.

Basic and diluted weighted average number of shares
was 140,346,322 and 141,507,497 for the year ended December 31, 2024, respectively. Basic and diluted weighted average number of
shares was 87,534,052 and 87,534,052 for the year ended December 31, 2023, respectively. 

90

Results of Operations for the Year Ended December
31, 2023 and 2022

The following table summarizes the results of
our operations during the year ended December 31, 2023 and 2022, respectively, and provides information regarding the dollar increase
or (decrease) during the period.

    For the Years Ended  December 31,  
    Variance in 

    2023  
    2022  
    Amount 

    Revenues 

    Digital asset mining 
    $44,240,418  
     32,270,689  
     11,969,729 
  
    ETH staking 
     675,713  
     25,904  
     649,809 
  
    Total revenues 
     44,916,131  
     32,296,593  
     12,619,538 

    Operating costs and expenses 

    Cost of revenue (exclusive of depreciation shown below) 

    Digital asset mining 
     (29,505,783) 
     (20,374,633) 
     (9,131,150)
  
    ETH staking 
     (50,802) 
     -  
     (50,802)
  
    Depreciation and amortization expenses 
     (14,426,733) 
     (27,829,730) 
     13,402,997