Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 45

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 45
---
7  
    2028  
    2029  
    Total 
  
    Colocation Services 
    $1,670,626  
    $3,862,221  
    $611,353  
    $92,435  
    $-  
    $6,236,635 
  
    Other Revenue 
     423,741  
     1,352,323  
     918,966  
     612,206  
    $289,473  
     3,596,709 
  
    Total
    contract liabilities 
    $2,094,367  
    $5,214,544  
    $1,530,319  
    $704,641  
    $289,473  
    $9,833,344 

The
amounts presented in the table above exclude variable consideration allocated entirely to wholly unsatisfied performance obligations.
Such amounts have been excluded from the disclosure of remaining performance obligations in accordance with ASC 606, as the consideration
is not fixed and determinable.

4.
Acquisitions

Enovum
Data Centers Acquisition

On
October 11, 2024, the Company acquired 100% of Enovum Data Centers Corp. (the “Acquiree” or “Enovum”), an owner,
operator, and developer of high-performance computing data centers, located in Montreal, Quebec, Canada. The acquisition of Enovum provides
the Company with a strong diversity of existing and prospective colocation customers, delivers a strong pipeline of expansion site opportunities
and an experienced management team to lead the development processes, and enables the Company to offer new service offerings. The acquisition
creates the potential for significant synergies, as the Company may capture additional margin from HPC customers, versus hosting them
with third party data centers. Additionally, Enovum enhances the Company’s competitive positioning in the marketplace, enabling
the Company to offer an integrated GPU cloud solution to customers. Finally, the Company will enjoy greater operating flexibility by
collocating its owned GPU inventory in Enovum data centers, offering capacity to customers on a just-in-time basis.

The
acquisition-date fair value of the consideration transferred totaled $43,834,313. The total consideration consists of $38,993,603 of
cash consideration and $4,840,710 in equity-classified exchangeable shares. The acquisition-date fair value of the exchangeable shares
was determined