Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 49

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 49
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idend yield 
     0.0%

14. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The components of goodwill as of March 31, 2025
are as follows:

    As of  March 31,  2025 

    Enovum Data Centers Corp. 
    $19,243,410 
  
    Total goodwill 
    $19,243,410 

The Company recorded goodwill in the amount of
$19.2 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 March 31, 2025:

    As of March 31, 2025 

    Cost  
    Accumulated amortization  
    Net 
  
    Customer relationships 
    $13,486,184  
    $(723,557) 
    $12,762,627 
  
    Total 
    $13,486,184  
    $(723,557) 
    $12,762,627 

The following table presents the Company’s
finite-lived intangible assets as of December 31, 2024:

    As of December 31, 2024 

    Cost  
    Accumulated amortization  
    Net 
  
    Customer relationships 
    $13,486,184  
    $(457,454) 
    $13,028,730 
  
    Total 
    $13,486,184  
    $(457,454) 
    $13,028,730 

27

The following table presents the Company’s
estimated future amortization of finite-lived intangible assets as of March 31, 2025:

    2025 
    $519,994 
  
    2026 
     693,325 
  
    2027 
     693,325 
  
    Thereafter 
     10,855,983 
  
    Total 
    $12,762,