Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 191

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 191
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, our
net income was $14.9 million, representing a change of $26.8 million from a net loss of $12.0 million for the three months ended June
30, 2024.

Basic and diluted earning per share was $0.07
and $0.07 for the three months ended June 30, 2025, respectively. Basic and diluted loss per share was $0.09 and $0.09 for the three months
ended June 30, 2024, respectively.

Basic and diluted weighted average number of shares
was 206,889,826 and 208,817,806 for the three months ended June 30, 2025, respectively. Basic and diluted weighted average number
of shares was 128,053,586 and 128,053,586 for the three months ended June 30, 2024, respectively. 

58

The following table summarizes the results of
our operations during the six months ended June 30, 2025 and 2024, respectively, and provides information regarding the dollar increase
or (decrease) during the period.

    For the Six Months Ended June 30,  
    Variance in 

    2025  
    2024  
    Amount 

    Revenues 

    Digital asset mining 
    $14,408,801  
    $37,971,653  
    $(23,562,852)
  
    Cloud services 
     31,437,601  
     20,566,781  
     10,870,820 
  
    Colocation services 
     3,367,413  
     -  
     3,367,413 
  
    ETH staking 
     925,973  
     699,558  
     226,415 
  
    Other 
     618,497  
     192,252  
     426,245 
  
    Total revenues 
     50,758,285  
     59,430,244  
     (8,671,959)

    Operating costs and expenses 

    Cost of revenue (exclusive of depreciation shown below) 

    Digital asset mining 
     (12,199,474) 
     (23,522,773) 
     11,323,299 
  
    Cloud services 
     (12,479,120