Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 67

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 67
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 (22,050,521) 
     34,193,628 
  
    Net loss from disposal of property and equipment 
     -  
     -  
     (333,620) 
     - 
  
    Other income, net 
     4,726,754  
     68,974  
     395,011  
     4,569,147 
  
    Net income (loss) before
    taxes 
     16,465,759  
     (11,411,319) 
     (40,574,170) 
     40,247,888 

(a)Other profit is primarily attributable to Equipment Leasing
and is therefore not included in the total for segment gross profit.

18. RELATED PARTIES

On December 20, 2024, the Board of Directors declared
an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”). Erke Huang, our Chief
Financial Officer, is the President of Geney and the beneficial owner of 30% of the equity of Geney, with the remaining 70% held by Zhaohui
Deng, the Company’s Chairman of the Board. The Company fully paid the declared dividend in January 2025.

 Bit Digital Iceland ehf appointed Daniel Jonsson
as its part-time Chief Executive Officer starting November 7, 2023, for a six-month term with a three-month probation. His compensation
includes a monthly salary of $8,334, a $6,440 signing bonus, and eligibility for performance-based RSU. Concurrently, Daniel Jonsson is
part of the management team at GreenBlocks ehf which not only provides bitcoin mining hosting services but also benefits from a facility
loan agreement extended by Bit Digital USA Inc., an affiliate of Bit Digital Iceland ehf. Additionally, Bit Digital Iceland ehf has contracted
GreenBlocks ehf for consulting services pertaining to our high performance computing services in Iceland. As of December 31, 2023, the
Company owed $21,592 to Daniel Jonsson for salary and bonus, and $160,000 to GreenBlocks ehf for services rendered. By the end of the
first quarter of 2024, we had settled these outstanding amounts with both Daniel Jonsson and GreenBlocks ehf.

 On August 8, 2025, WhiteFiber, a subsidiary of