Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 71

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 71
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 an additional payment of $200,000 per MW in excess of 99MW, up to a maximum of $5 million.

39

Royal Bank of Canada Facility Agreement

On June 18, 2025, the Company entered into a definitive
credit agreement with the Royal Bank of Canada (“RBC”), to finance its data centers business. The credit agreement provides
for an aggregate amount of up to approximately USD $43.8 million of financing. The agreement is non-recourse and comprised of three separate
facilities:

●Non-revolving three year lease
facility in the amount of USD $18.5 million. The lease facility provides for straight-line amortization of six years and capital moratorium
of six months after disbursement is complete. 

●Non-revolving term loan facility
in the amount of USD $19.6 million to refinance the Company’s purchase of MTL-2. Payment of principal and interest is due 30 days
after drawdown and is repayable in full on the last day of the three-year term. 

●Revolver by way of letters of
credit and letters of guaranty with fees to be determined on a transaction-by-transaction basis. This facility will be available for the
36-month term in the amount of USD $5.8 million.

The Company agreed to certain financial covenants
that are not yet in effect. The facilities have not yet been authorized for use by the lender, as certain conditions precedent have not
yet been satisfied. Accordingly, no amounts were drawn, and no borrowings were available under the facility as of the reporting date.

20. DISPOSITION OF BIT DIGITAL INVESTMENT MANAGEMENT
LIMITED AND BIT DIGITAL INNOVATION MASTER FUND SPC LIMITED

On July 1, 2024, the Company entered into a share
purchase agreement (the “Disposition SPA”) with Pleasanton Ventures Limited (“Pleasanton Ventures”), an unrelated
Hong Kong entity (the “Purchaser”). Pursuant to the Disposition SPA, the Purchaser purchased Bit Digital Investment Management
Limited and Bit Digital Innovation Master Fund SPC Limited in exchange for a consideration of $176,000 and $100, respectively. The disposition
was closed on the same date.

On the same date, the parties completed all of
the share transfer registration procedures as required by the laws of the British Virgin Islands and all other closing conditions had
been satisfied. As a result, the disposition contemplated by the Disposition SPA