Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1160

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 1160
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) 
    $(105,296,603)
  
    Depreciation and amortization expenses 
     32,311,056  
     14,426,733  
     27,829,730 
  
    Income tax expenses (benefits) 
     3,978,167  
     279,044  
     (592,850)
  
    EBITDA 
     64,595,033  
     812,496  
     (78,059,723)

    Adjustments: 

    Share based compensation expenses 
     9,876,368  
     9,118,812  
     2,262,691 
  
    Loss on write-off of deposit to hosting facility 
     -  
     2,041,491  
     129,845 
  
    Net loss (gain) from disposal of property and equipment 
     859,083  
     165,160  
     (1,353,299)
  
    Gain from sale of investment security 
     -  
     (8,220) 
     (1,039,999)
  
    Loss (gain) from disposal of a subsidiary 
     978,938  
     -  
     (52,383)
  
    Changes in fair value of long-term investments 
     (3,308,144) 
     306,612  
     545,412 
  
    Liquidated damage expenses 
     -  
     -  
     619,355 
  
    Impairment of property and equipment 
     -  
     -  
     50,038,650 
  
    Adjusted EBITDA 
    $73,001,278  
    $12,436,351  
    $(26,909,451)

Liquidity and capital resources

As of December 31, 2024, we had working capital
of $241.8 million which includes USDC of $0.4 million and digital assets of $161.4 million as compared with working capital of $56.3 million
as of December 31, 2023. Working capital is the difference between the Company’s current assets and current liabilities.

To date, we have financed our operations primarily
through cash flows from operations, and equity financing through public and private offerings of our securities. We plan