Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 744

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 744
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 share
of operating costs. The lease is secured by a letter of credit in the amount of CAD $600,000. 

On December 27, 2024, Enovum acquired a 160,000
square foot facility at 7300 Trans-Canada Highway, City of Point-Claire, Quebec, Canada. The property was purchased for CAD $33.5 million
(approximately USD $23.3 million) and was purchased with cash on hand.

We have one office in Hong Kong located at Room
1913 on a leased premise at Fortune Commercial Building, 362 Sha Tsui Road, Tsuen Wan, Hong Kong. The lease is for a term ending on May
31, 2025, with a monthly rental of $300.

We have one office in Singapore located at CapitaSpring,
88 Market Street, Level 21, Singapore, 048948. This lease is for a term ending on August 31, 2025, with a monthly rental of SGD $4,650
(approximately USD $3,500).

We have one office in Reykjavik, Iceland, located
at Skógarhlíð 12, 105 Reykjavík, Iceland. The lease is for a term ending December 31, 2025, with a monthly rental
of approximately $620.

We believe that we will be able to obtain adequate
facilities, principally through leasing, to accommodate our future expansion plans. We believe that our current property rights are sufficient
for our current operations.

Item 3. Legal Proceedings 

Except as set forth herein, we are not currently
a party to any material legal or administrative proceedings.

On June 3, 2024, the Company filed suit in Delaware
Superior Court against Blockfusion, Inc. (“Blockfusion”) alleging claims for breach of contract, conversion, and related claims
in connection with, among other things, certain deposits and advances paid to Blockfusion, the return of which is owed to Bit Digital.
Bit Digital is seeking in excess of $4.3 million. On October 22, 2024, Blockfusion denied the Company’s claims and brought reciprocal
breach of contract and related counterclaims. Blockfusion is seeking at least $158,000 in damages. A bench trial has been scheduled for
June 29, 2026. The litigation is at an early stage and a reasonably possible range of loss or recovery cannot be estimated.

Item 4.