Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2261

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7A
Chunk 2261
---
 
     (17,251,504)
  
    Payment of BTC for service charges from mining facilities 
     (1,758,441)
  
    Payment of BTC for other expenses 
     (392,952)
  
    Impairment of BTC 
     (4,519,692)
  
    Ending balance 
    $19,818,980 

The following table presents a roll-forward of
ETH for the year ended December 31, 2023, based on the cost-impairment model under ASC 350:

    For the 
Year Ended December 31, 

    2023 
  
    Opening balance 
    $11,791,181 
  
    Receipt of ETH from exchange of BTC 
     17,164,100 
  
    Receipt of ETH from native staking business 
     531,702 
  
    Receipt of ETH from liquid staking business* 
     144,011 
  
    Other income in the form of ETH 
     540 
  
    Sales of ETH in exchange of cash 
     (3,243,415)
  
    Payment of ETH for other expenses 
     (22,757)
  
    Payment of ETH to investment fund 
     (3,615,507)
  
    Impairment of ETH 
     (2,112,752)
  
    Ending balance 
    $20,637,103 

  * It includes 71.7 rETH-h earned from the liquid staking activity in 2023. 

F-26

7. OTHER CURRENT ASSETS

Other current assets were comprised of the following:

    December 31,  2024  
    December 31, 2023 
  
    Deposits (a) 
    $1,704,785  
    $1,171,709 
  
    Prepayments to one mining facility (b) 
     290,475  
     382,207 
  
    Prepaid director and officer insurance expenses 
     219,471  
     168,594 
  
    Prepaid consulting service expenses 
     3,016,460  
     931,200 
  
    Deposit for lease 
     63,586  
     50,858 
  
    Deferred contract costs 
     982,039  
     1,041,667 
  
    Prepayment to third parties 
     15,526,472