Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 71

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 71
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, risk-free interest rate and dividend yield. The Company estimates the volatility
of its ordinary shares based on historical and implied volatilities of selected peer companies as well as its own that match the expected
remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for
a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their
remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates it to remain at zero.

The
following table provides quantitative information regarding Level 3 fair value measurements inputs for the Company’s warrants at
their measurement dates:

    As
    of October 4, 2021 
  
    Volatility 
     192.85%
  
    Stock price 
     7.59 
  
    Expected life of the warrants to convert 
     3.81 
  
    Risk free rate 
     0.97%
  
    Dividend yield 
     0.0%

14.
GOODWILL AND INTANGIBLE ASSETS

Goodwill

The
components of goodwill as of September 30, 2025 are as follows:

    As
    of  September 30,  2025 

    Enovum Data
    Centers Corp. 
    $19,848,419 
  
    Total goodwill 
    $19,848,419 

The
Company recorded goodwill in the amount of $19.8 million in connection with its acquisition of the Enovum Data Centers Corp. (“Enovum”)
on October 11, 2024. Refer to Note 4. Acquisitions for further information.

Finite-lived
intangible assets

In
addition to goodwill, in connection with the acquisition of Enovum, the Company recorded an identified intangible asset, customer relationships,
with a definite useful life of 19 years in the amount of $13.5 million. Refer to Note 4. Acquisitions for further information.

The
following table presents the Company’s finite-lived intangible assets as of September 30, 2025:

    As
    of September 30, 2025 

    Cost  
    Accumulated
    amortization  
    Net 
  
    Customer
    relationships 
    $13,489,281  
    $(680,380) 
    $12,808,901