Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 72

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 72
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    Total 
    $13,489,281  
    $(680,380) 
    $12,808,901 

35

The
following table presents the Company’s finite-lived intangible assets as of December 31, 2024:

    As
    of December 31, 2024 

    Cost  
    Accumulated
    amortization  
    Net 
  
    Customer
    relationships 
    $13,486,184  
    $(457,454) 
    $13,028,730 
  
    Total 
    $13,486,184  
    $(457,454) 
    $13,028,730 

The
following table presents the Company’s estimated future amortization of finite-lived intangible assets as of September 30, 2025:

    2025 
    $173,331 
  
    2026 
     693,325 
  
    2027 
     693,325 
  
    2028 
     693,325 
  
    2029 
     693,325 
  
    Thereafter 
     9,862,270 
  
    Total 
    $12,808,901 

The
Company did not identify any impairment of its finite-lived intangible assets during the nine months ended September 30, 2025.

15.
INCOME TAXES

The
following table provides details of income taxes:

    For
    the Three Months Ended  September 30,  
    For
    the Nine Months Ended  September 30, 

    2025  
    2024  
    2025  
    2024 

    Income
    (loss) before income taxes 
    $147,422,478  
    $(38,167,256) 
    $106,848,308  
    $2,080,632 
  
    Provision
    for income taxes 
    $697,668  
    $628,230  
    $2,960,941  
    $2,747,361 
  
    Effective
    tax rate 
     0.5% 
     (1.6)% 
     2.8% 
     132.0%

Our
income tax provision was $0.7 million and $0.6 million for the three months ended September 30, 2025 and 2024,