Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1503

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 4
Chunk 1503
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,619,709) 
     44,182,973 

    Net loss from disposal of property and equipment 
     (859,083) 
     (165,160) 
     (693,923)
  
    Gain from sale of investment security 
     -  
     8,220  
     (8,220)
  
    Other income, net 
     5,579,796  
     3,162,412  
     2,417,384 
  
    Total other income (expense), net 
     4,720,713  
     3,005,472  
     1,715,241 

    Income (loss) before income taxes 
     32,283,977  
     (13,614,237) 
     45,898,214 

    Income tax expenses 
     (3,978,167) 
     (279,044) 
     (3,699,123)
  
    Net income (loss) 
    $28,305,810  
     (13,893,281) 
     42,199,091 

84

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 initiated WhiteFiber
AI, a new business line to provide cloud services to support generative AI workstreams. The Company commenced the cloud services in January
2024.

Our revenue from cloud services was $45.7 million for
the year ended December 31, 2024. During the three months ended March 31, 2024, the Company issued a service credit of $1.3 million to
the customer as compensation for decreased utilization during the initial deployment period, which included testing and optimization phases.
The Company issued another service credit of $0.6 million to the customer during the three months ended September 30, 2024, as compensation
for decreased utilization.

Revenue from colocation services

In the fourth quarter of 2024, we acquired Enovum which provides customers
with physical space, power, cooling within the data center facility.

Our revenue from colocation services was $1.4
million for the year ended December 31, 2024.

Revenue from digital asset mining

We provide computing power to digital asset mining
p