Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 48

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 48
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 a lessee is as follows:

     For the Years Ended December 31,      2024   2023   Operating cash outflows from operating leases  $3,523,479   $100,000   Remaining lease term – operating lease   9.7    2.9   Discount rate – operating lease   9.2%   9.9% 

F-27

The following table represents our future minimum
operating lease payments as of December 31, 2024:

    Year 
    Amount 
  
    2025 
    $5,327,390 
  
    2026 
     5,232,120 
  
    2027 
     1,822,065 
  
    2028 and thereafter 
     6,316,737 
  
    Total undiscounted lease payments 
     18,698,313 
  
    Less present value discount 
     (4,892,096)
  
    Present value of lease liability 
    $13,806,217 

The Company entered into a GPU server lease agreement
effective January 2024 for its cloud services designed to support generative AI workstreams. The lease payment depends on the usage of
the GPU servers and the Company concludes that the lease payments are variable and will be recognized when they are incurred. For the
years ended December 31, 2024 and 2023, the GPU server lease expense amounted to $13.6 million and $nil, respectively.

Lease as Lessor

During the quarter ended March 31, 2024, the Company
entered into a sales-type lease agreement as a lessor for its data storage equipment. The term of the lease is scheduled to expire in
December 2026.

During the quarter ended September 30, 2024, the
Company entered into a sales-type lease agreement as a lessor for its data storage equipment. The term of the lease is scheduled to expire
in December 2026.

During the quarter ended December 31,2024, 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 October 2029 and November 2029 respectively.

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

    For the Years Ended December 31, 

    2024