Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1233

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 1233
---

    $279,044  
    $(592,850)

F-38

The significant components of deferred income
tax assets and liabilities were as follows:

    December 31, 2024  
    December 31, 2023 
  
    Deferred tax assets: 

    Net operating losses carry forwards 
    $18,812,792  
    $13,781,487 
  
    Share-based compensation 
     1,092,438  
     919,036 
  
    Capital loss carryforwards 
     -  
     1,549,966 
  
    Accrual bonus 
     73,597  
     66,343 
  
    Lease liability 
     2,178,837  
     - 
  
    Unrealized foreign exchange gain/loss 
     277  
     - 
  
    Other deferred tax assets 
     92,816  
     - 
  
    Gross deferred tax assets 
     22,250,757  
     16,316,832 
  
    Less: valuation allowance 
     (2,904,155) 
     (9,403,958)
  
    Net deferred tax assets 
    $19,346,601  
    $6,912,874 

    Deferred tax liabilities: 

    Right of use asset 
    $(2,572,678) 
    $(6,922,519)
  
    Basis difference in fixed assets 
     (11,402,585) 
     (102,606)
  
    Basis difference in digital assets 
     (8,288,760) 
     - 
  
    Basis difference in intangible 
     (3,403,248) 
     - 
  
    Gross deferred tax liabilities 
     (25,667,270) 
     (7,025,125)
  
    Total net deferred tax liabilities 
    $(6,320,669) 
    $(112,251)

As of December 31, 2024, we had U.S. federal,
state and foreign net operating loss (“NOL”) carry-forwards of $62.0 million, $70.9 million and $21.9 million, respectively.
The U.S. federal NOL carry-forwards does not expire and the state NOL will expire at various dates beginning in 2041.

The valuation allowance was $2.9