Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 200

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 3
Chunk 200
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xley Act of 2002.

    32.2
     
    Certification of CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

    101.INS
     
    Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).**

    101.SCH
     
    Inline XBRL Taxonomy Extension Schema Document.**

    101.CAL
     
    Inline XBRL Taxonomy Extension Calculation Linkbase Document.**

    101.DEF
     
    Inline XBRL Taxonomy Extension Definition Linkbase Document.**

    101.LAB
     
    Inline XBRL Taxonomy Extension Labels Linkbase Document.**

    101.PRE
     
    Inline XBRL Taxonomy Extension Presentation Linkbase Document.**

    104
     
    Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).**

59

Investment in Digital Future Alliance Limited (“DFA”)
DFA is a privately held company, over which the Company has neither control nor significant influence through investment in ordinary shares. The Company accounted for the investment in DFA using the measurement alternative at cost, less impairment, with subsequent adjustments for observable price changes resulting from orderly transactions for identical or similar investments of the same issuer.
For the three months ended March 31, 2025 and 2024, the Company did not record upward adjustments or downward adjustments on the investment. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security. As of March 31, 2025 and December 31 2024, the Company did not recognize impairment against the investment security.
Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”)

On August 1, 2022, the Company entered into a subscription agreement with Nine Blocks for investment of $2.0 million. The investment includes a direct investment into the Nine Blocks Master Fund, a digital assets market neutral fund using basis trading, relative value, and special situations strategies.

As a practical expedient, the Company uses Net Asset Value (“NAV”) or its equivalent to measure the fair value of the investment in the fund. For the three months ended March 31, 2025 and 2024,