Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 212

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 212
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 The first agreement, commencing in early May, includes 104 NVIDIA H200 GPUs under
a 23-month term. The second, commencing mid-May, includes 512 H200 GPUs under a 24-month term. With these additions, DNA Fund’s
total contracted deployment increased to 1,192 GPUs. Combined, the agreements represent approximately $20.9 million of annualized revenue.

Regardless of our ability to generate revenue
from our high performance computing business, or our Ethereum staking business, we may need to raise additional capital in the form of
equity or debt to fund our operations and pursue our business strategy. The ability to raise funds such as equity, debt or conversion
of digital assets to maintain our operations is subject to many risks and uncertainties and, even if we are successful, future equity
issuances would result in dilution to our existing stockholders and any future debt or debt securities may contain covenants that limit
our operations or ability to enter into certain transactions. Our ability to realize revenue through conversion of digital assets into
cash or fund overhead with digital assets is subject to a number of risks, including regulatory, financial and business risks, many of
which are beyond our control. Additionally, the value of digital asset rewards has historically been extremely volatile, and future prices
cannot be predicted.

If we are unable to generate sufficient revenue
when needed or secure additional funding, it may become necessary to significantly reduce our current rate of expansion or to explore
other strategic alternatives.

Cash flows

    For the Six Months Ended
 June
    30, 

    2025  
    2024 
  
    Net Cash Provided by (Used in) Operating Activities 
    $35,095,075  
    $(30,370,425)
  
    Net Cash Used in Investing Activities 
     (148,240,379) 
     (6,660,262)
  
    Net Cash Provided by Financing Activities 
     199,313,693  
     80,273,917 
  
    Net (decrease) increase in cash, cash equivalents and restricted cash 
     86,168,389  
     43,243,230 
  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash 
     (203,877) 
     - 
  
    Cash, cash equivalents and restricted cash, beginning of period 
     98,934,127  
     18,180,934