Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 228

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 228
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    Gains (losses) on digital assets 
     168,040,717  
     (21,916,244) 
     189,956,961 
  
    Impairment on digital
    intangible assets 
     (1,836,192) 
     -  
     (1,836,192)
  
    Total
    operating expenses 
     111,338,406  
     (59,450,354) 
     170,788,760 

    Income
    (loss) from operations 
     141,802,408  
     (36,611,683) 
     178,414,091 

    Net loss from disposal of property, plant
    and equipment 
     (539,378) 
     -  
     (539,378)
  
    Other income (loss),
    net 
     6,159,448  
     (1,555,573) 
     7,715,021 
  
    Total
    other income (loss), net 
     5,620,070  
     (1,555,573) 
     7,175,643 

    Income
    (loss) before income taxes 
     147,422,478  
     (38,167,256) 
     185,589,734 

    Income tax expenses 
     (697,668) 
     (628,230) 
     (69,438)
  
    Net
    income (loss) 
    $146,724,810  
    $(38,795,486) 
    $185,520,296 

Revenue

We
generate revenues from cloud services, colocation services, digital asset mining, and ETH staking businesses.

Revenue
from cloud services

In
the fourth quarter of 2023, we established our cloud-based HPC graphics processing unit services, which we term cloud services, a new
business line to provide services to support generative AI workstreams. The Company commenced offering cloud services to customers in
January 2024.

Our
revenue from cloud services increased by $5.9 million, or 48.4%, to $18.0 million for the three months ended September 30,
2025 from $12.2 million for the three months ended September 30,