Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2133

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 2133
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 2024, the Company
wrote off 19,889 BTC miners during the year, and the Company recorded a loss of $nil resulting from the writing off in the account of
“net (loss) gain from disposal of property and equipment”.

Sales and writing off of miners in the year
of 2023 

For the year ended December 31, 2023, the Company
wrote off 5,328 BTC miners and 730 ETH miner during the year, and the Company recorded a loss of $165,160 resulting from the writing off
in the account of “net (loss) gain from disposal of property and equipment”. For the year ended December 31, 2023, the Company
did not sell any miners.

Sales and writing off of miners in the year
of 2022 

For the year ended December 31, 2022, the Company
sold 1,115 bitcoin miners for a total consideration of $1,816,870. On the dates of the transaction, the total original cost and accumulated
depreciation of these miners were $571,681 and $276,610, respectively. The Company recognized a gain of $1,521,799 from the sale of miners
which was recorded in the account of “net (loss) gain from disposal of property. As of the date of this report, the Company has
collected the cash consideration of $1,056,775, netting off the related miner consideration of 712,800 USDC.

For the year ended December 31, 2022, the Company
wrote off 917 BTC miners and 1 ETH miner during the year, and the Company recorded a loss of $168,500 resulting from the writing off in
the account of “net (loss) from disposal of property and equipment”.

10. INVESTMENT SECURITIES

Investment securities were comprised of the following:

    December 31, 2024  
    December 31, 2023 
  
    Investment in Digital Future Alliance Limited (“DFA”) (a) 
    $94,534  
    $94,534 
  
    Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”) (b) 
     3,036,403  
     2,179,164 
  
    Investment in Auros Global Limited (c) 
     1,999,987  
     1,999,987 
  
    Investment in