Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 46

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 46
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 sublease
is scheduled to expire on October 30, 2026 and includes two automatic renewal periods of three years each, unless subtenant provides at
least 90 days’ notice of non-renewal prior to the end of the then-current term.

During the quarter ended June 30, 2025, the Company
entered into two sales-type lease agreements as a lessor for its cloud service equipment. The term of the lease is scheduled to expire
in April 2030 and May 2030, respectively.

The components of lease income for the sales-type
lease were as follows:

    For the Three Months Ended 
June
    30,  
    For the Six Months Ended 
June
    30, 

    2025  
    2024  
    2025  
    2024 
  
    Interest income related to net investment in lease 
    $337,930  
    $92,504  
    $618,497  
    $192,252 

Interest income is included in the consolidated
statements of operations under the caption “Revenue – Other”.

The components of net investment in sales-type
leases were as follows:

    June 30, 2025  
    December 31, 2024 
  
    Net investment in lease - lease payment receivable 
    $12,885,554  
    $9,328,998 

The following table illustrates the Company’s
future minimum receipts for sales-type lease as of June 30, 2025:

    Year 
    Sales-Type Lease 
  
    2025 
    $2,413,097 
  
    2026 
     4,826,194 
  
    2027 
     2,844,663 
  
    2028 
     2,844,663 
  
    2029 
     3,088,784 
  
    Total future minimum receipts 
     16,017,401 
  
    Unearned interest income 
     (3,131,847)
  
    Net investment in sales type lease 
    $12,885,554 

The present value of minimum sales-type receipts
of $12,885,554 is included in the consolidated balance sheets under the caption “Net investment in lease”.

The following table illustrates the future lease
payments from the Company’s sublease tenant as of June 30, 2025 were as follows: