Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 59

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 59
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ovum”) on October 11, 2024. Refer to
Note 4. Acquisitions for further information.

Finite-lived intangible assets

In addition to goodwill, in connection with the
acquisition of Enovum, the Company recorded an identified intangible asset, customer relationships, with a definite useful life of 19
years in the amount of $13.5 million. Refer to Note 4. Acquisitions for further information.

The following table presents the Company’s
finite-lived intangible assets as of June 30, 2025:

    As of June 30, 2025 

    Cost  
    Accumulated amortization  
    Net 
  
    Customer relationships 
    $13,721,607  
    $(511,551) 
    $13,210,056 
  
    Total 
    $13,721,607  
    $(511,551) 
    $13,210,056 

33

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 June 30, 2025:

    2025 
    $346,663 
  
    2026 
     693,325 
  
    2027 
     693,325 
  
    Thereafter 
     11,476,743 
  
    Total 
    $13,210,056 

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

15. INCOME TAXES

The following table provides details of income
taxes:

    For the Three Months Ended  June 30,  
    For the Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 

    Income (loss) before income taxes 
    $16,465,759