Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 369

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 369
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10. INVESTMENT SECURITIES

Investment securities were comprised of the following:

    December 31, 2024  
    December 31, 2023 
  
    Investment in Digital Future Alliance Limited (“DFA”) (a) 
    $94,534  
    $94,534 
  
    Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”) (b) 
     3,036,403  
     2,179,164 
  
    Investment in Auros Global Limited (c) 
     1,999,987  
     1,999,987 
  
    Investment in Ingonyama Ltd (d) 
     100,000  
     100,000 
  
    Investment in Cysic Inc. (e) 
     100,000  
     - 
  
    Investment in a SAFE (f) 
     1,000,000  
     - 
  
    Investment in AI Innovation Fund I (“AI fund”) (g) 
     15,800,000  
     - 
  
    Investment in Innovation Fund I (“Innovation fund”) (h) 
     8,666,441  
     - 
  
    Total 
    $30,797,365  
    $4,373,685 

(a) Investment in Digital Future Alliance Limited (“DFA”)

DFA is a privately held company, over which the
Company neither has control nor significant influence through investment in ordinary shares. The Company accounted for the investment
in DFA using the measurement alternative at cost, less impairment, with subsequent adjustments for
observable price changes resulting from orderly transactions for identical or similar investments of the same issuer.

For the years ended December 31, 2024 and 2023,
the Company did not record upward adjustments or downward adjustments on the investment. The Company’s impairment analysis considers
both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security. As of December
31, 2024 and 2023, the Company did not recognize impairment against the investment security.

F-30

(b) Investment in Nine Blocks Offshore Feeder Fund (“Nine
Blocks”)

On August 1, 2022, the Company entered into a
subscription agreement with Nine Blocks for investment of $2.0 million. The investment includes a direct investment into the Nine Blocks
Master Fund, a digital assets