Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 45

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 45
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 to measure the fair value of the investment in the fund. On March 25, 2025,
the Company invested additional 3,400 ETH, equivalent to $7,030,398 into the fund. For the three months ended March 31, 2025 and 2024,
the Company recorded cumulative downward adjustments of $4,541,248 and upward adjustment of $3,007,862 respectively, on the investment.

24

11. OTHER NON-CURRENT ASSETS

Other non-current assets were comprised of the
following:

    March 31,  2025  
    December 31, 2024 
  
    Deposits (a) 
    $5,910,903  
    $7,103,560 
  
    Deferred contract costs 
     736,529  
     982,039 
  
    Contract assets 
     740,045  
     - 
  
    Others 
     578,194  
     1,494,285 
  
    Total 
    $7,965,671  
    $9,579,884 

  (a) As of March 31, 2025 and December 31, 2024, the balance of deposits primarily consisted of the deposits made to utility company related to our colocation services and to our service providers who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due over 12 months from the effective date of the agreement. 

12. SHARE-BASED COMPENSATION

Share-based compensation such as restricted stock
units (“RSUs”), incentive and non-statutory stock options, restricted shares, share appreciation rights and share payments
may be granted to any directors, employees and consultants of the Company or affiliated companies under 2021 Omnibus Equity Incentive
Plan (“2021 Plan”), 2021 Second Omnibus Equity Incentive Plan (“2021 Second Plan”) and 2023 Omnibus Equity Incentive
Plan (“2023 Plan”). An aggregate of 2,415,293 RSUs were granted under the 2021 Plan and no ordinary shares remain reserved
for issuance under the 2021 Plan. There are 5,000,000 ordinary shares reserved for issuance under the Company’s 2021 Second Plan,
under which 4,211,372 RSUs and 395,000 share options have been granted