Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 53

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 53
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2025, the Company entered into a lease agreement for general and administrative purposes. The lease term is two years.

On
April 11, 2025, the Company, through WhiteFiber, entered into a data center lease agreement in Saint-Jérôme for its data
center colocation services. The initial lease term is for 20 years with two five-year extension options. The transaction also includes
a fixed-price purchase option exercisable until December 31, 2025.

26

As
of September 30, 2025 and December 31, 2024, operating right-of-use assets were $42.8 million and $15.0 million, respectively and operating
lease liabilities were $41.9 million and $13.8 million, respectively. For the three months ended September 30, 2025 and 2024, the Company’s
amortization on the operating lease right-of-use assets totaled $1.4 million and $0.8 million, respectively. For the nine months
ended September 30, 2025 and 2024, the Company’s amortization on the operating lease right-of-use assets totaled $3.9 million and
$1.7 million, respectively.

The
following table presents the components of the Company’s lease expense. GPU lease expenses and data center lease expenses related
to operational data centers are included in cost of revenue; data center lease expenses incurred during construction and office lease
expenses are included in general and administrative expense:

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

    2025  
    2024  
    2025  
    2024 
  
    Operating lease costs 
    $       5,411,642  
    $4,913,369  
    $16,091,023  
    $12,025,609 
  
    Short-term lease costs 
     67,290  
     45,966  
     205,305  
     157,038 
  
    Sublease income 
     (6,534) 
     -  
     (19,300) 
     - 
  
    Total lease costs 
     5,472,397  
     4,959,335  
     16,277,027  
     12,182,647