Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 44

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 44
---
 31, 2024, operating
right-of-use assets were $44.8 million and $15.0 million, respectively and operating lease liabilities were $43.7 million and $13.8 million,
respectively. For the three months ended June 30, 2025 and 2024, the Company’s amortization on the operating lease right-of-use
assets totaled $1.3 million and $0.5 million, respectively. For the six months ended June 30, 2025 and 2024, the Company’s
amortization on the operating lease right-of-use assets totaled $2.4 million and $0.9 million, respectively.

The following table presents the components of
the Company’s lease expense. GPU lease expenses and data center lease expenses related to operational data centers are included
in cost of revenue; data center lease expenses incurred during construction and office lease expenses are included in general and administrative
expense:

    For the Three Months Ended  June 30,  
    For the Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Operating lease costs 
    $5,564,798  
    $4,430,061  
    $10,686,875  
    $7,112,240 
  
    Short-term lease costs 
     68,967  
     91,573  
     138,015  
     180,073 
  
    Sublease income 
     (6,578) 
     -  
     (12,765) 
     - 
  
    Total lease costs 
     5,627,187  
     4,521,634  
     10,812,125  
     7,292,313 

Additional information regarding the Company’s
leasing activities as a lessee is as follows:

     For the Three Months Ended  June 30,   For the Six Months Ended  June 30,      2025   2024   2025   2024   Operating cash outflows from operating leases  $1,815,328   $600,000   $3,190,019   $1,200,000   Remaining lease term – operating lease   21.3    2.5    21.3