Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 126

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 126
---
 fair value of investment security of $0.9 million, and (ii) net changes in our operating
assets and liabilities, principally comprising of a decrease in digital assets and stable coins of $54.0 million, decrease in deferred
revenue of $19.0 million, an increase in accounts receivable of $1.2 million, an increase in other payable and accrued liabilities of
$5.3 million, a decrease in net investment in lease of $1.3 million, a decrease in accounts payable of $0.3 million, a decrease in other
current assets of $3.9 million, and a decrease in other non-current assets of $1.6 million.

Net cash used in operating activities was $30.4 million for the six
months ended June 30, 2024, derived mainly from (i) a net income of $38.1 million for the six months ended June 30, 2024 adjusted for
digital assets of $38.0 million from our mining services, depreciation expenses of property and equipment of $15.2 million, unrealized
gain on digital assets held in fund of $2.7 million, and gains on digital assets of $34.2 million, and (ii) net changes in our operating
assets and liabilities, principally comprising of a decrease in deferred revenue of $13.1 million, decrease in other payable and accrued
liabilities of $3.7 million, and a decrease in net investment in lease of $2.9 million, offset by and an increase in accounts payable
of $3.8 million and other current assets of $8.4 million.

Investing Activities

Net cash used in investing activities was $148.2
million for the six months ended June 30, 2025, primarily attributable to purchases of and deposits made for property, plant, and equipment
of $147.1 million, investment in equity securities of $2.0 million, and proceeds from disposal of property, plant and equipment of $0.9
million.

Net cash used in investing activities was $6.7
million for the six months ended June 30, 2024, primarily attributable to purchases of and deposits made for property and equipment of
$5.6 million, investment in a SAFE of $1.0 million and investment in one equity investee of $0.1 million.

Financing Activities

Net cash provided by financing activities was
$199.3 million for the six months ended