Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 120

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 120
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, net income, diluted earnings per share or any other performance measure
derived in accordance with U.S. GAAP, or as an alternative to cash flow from operating activities as a measure of our liquidity. Adjusted
EBITDA has limitations as an analytical tool, and you should not consider such measures either in isolation or as substitutes for analyzing
our results as reported under U.S. GAAP.

Reconciliations of Adjusted EBITDA to the most
comparable U.S. GAAP financial metric for historical periods are presented in the table below: 

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

    2025  
    2024  
    2025  
    2024 

    Reconciliation of non-GAAP income (loss) from operations: 

    Net income (loss) 
    $14,874,202  
    $(11,953,100) 
    $(42,837,443) 
    $38,128,757 
  
    Depreciation and amortization expenses 
     8,223,538  
     8,346,633  
     15,465,527  
     15,192,582 
  
    Income tax expenses 
     1,591,557  
     541,781  
     2,263,273  
     2,119,131 
  
    EBITDA 
     24,689,297  
     (3,064,686) 
     (25,108,643) 
     55,440,470 

    Adjustments: 

    Net loss from disposal of property and equipment 
     -  
     -  
     333,620  
     - 
  
    Share based compensation expenses 
     6,890,646  
     423,736  
     7,143,036  
     916,335 
  
    Changes in fair value of long-term investments 
     (3,816,856) 
     (1,182,792) 
     875,572  
     (1,637,497)
  
    Adjusted EBITDA 
    $27,763,087  
    $(3,823,742) 
    $(16,756,415)