Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 42

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 42
---
 (24,789,558)
  
    ETH fair value at June 30, 2025 
    $61,162,850 

For the
additions of ETH generated by the Company’s ETH staking business, see Note 3. Revenue from Contracts with Customers.

ETH is sold
on a FIFO basis. For the six months ended June 30, 2025, gains from the sales of ETH are included in change in fair value of ETH which
is included in the consolidated statements of operations under the caption “Gains (losses) on digital assets”.  

23

7. OTHER CURRENT ASSETS

Other current assets were comprised of the following:

    June 30,  2025  
    December 31, 2024 
  
    Deposits (a) 
    $4,757,685  
    $1,704,785 
  
    Prepayments to mining facilities (b) 
     -  
     290,475 
  
    Prepaid director and officer insurance expenses 
     611,150  
     219,471 
  
    Prepaid consulting service expenses 
     3,495,450  
     3,016,460 
  
    Deposit for lease 
     76,906  
     63,586 
  
    Deferred contract costs 
     982,039  
     982,039 
  
    Contract assets 
     807,322  
     - 
  
    Prepayment to third parties 
     8,263,352  
     15,526,472 
  
    Receivable from third parties 
     5,814,496  
     6,305,652 
  
    Others 
     1,906,756  
     210,729 
  
    Total 
    $26,715,156  
    $28,319,669 

  (a) As of June 30, 2025 and December 31, 2024, the balance of deposits
represented the deposits made to our service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits
are refundable upon expiration of the agreement. 

  (b) As of June 30, 2025 and December 31, 2024, the balance of prepayments to mining facilities represented the prepayments for service charges from the mining facilities. 

8. LEASES

Le