Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1032

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1C
Chunk 1032
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032,691  
     - 
  
    Vehicles 
     235,576  
     235,576 
  
    Other property and equipment 
     29,066  
     - 

    Less: Accumulated depreciation 
     (36,946,762) 
     (20,645,231)

     102,177,801  
     30,443,982 
  
    Construction in progress 
     5,124,657  
     51,030,667 
  
    Property, plant, and equipment, net 
    $107,302,458  
    $81,474,649 

For the years ended December 31, 2024, 2023, and
2022, depreciation expenses were $32,166,613, $14,426,733, and $27,829,730, respectively. Construction in Progress represents assets
received but not placed into service as of December 31, 2023 and 2024.

The Company purchased data storage equipment
totaling $5,315,202 and almost immediately thereafter, we entered into a sales-type lease agreement effective January 2024 for a portion
of these assets valued at $3,353,608 with a third party. As a result, the leased data storage equipment was derecognized from our property,
plant, and equipment and recorded as a net investment in lease. Refer to Note 8. Leases for more information.

The Company purchased data storage equipment totaling
$1,254,248 and immediately thereafter, we entered into a sales-type lease agreement effective August 2024 for a portion of these assets
valued at $1,184,937 with a third party. As a result, the leased data storage equipment was derecognized from our property and equipment
and recorded as a net investment in lease. Refer to Note 8. Leases for more information.

The Company purchased servers and network equipment
totaling $6,056,700 and almost immediately thereafter, we entered into two sales-type lease agreements effective November 2024 and December
2024 with a third party. As a result, the leased cloud service equipment was derecognized from our property, plant, and equipment and
recorded as a net investment in lease. Refer to Note 8. Leases for more information.

Sales and writing off of miners in the year
of 2024

For the year ended