Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 336

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 336
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 Engaged in fund and investment management activities          ● Disposed on July 1, 2024                   Bit Digital Innovation Master Fund SPC Limited (“BT SPC”)   ● A British Virgin Islands company   100% owned by Bit Digital Strategies Limited.      ● Incorporated on May 31, 2023          ● A segregated portfolio company          ● Disposed on July 1, 2024                   WhiteFiber AI, Inc. (fka Bit Digital AI, Inc.) (“WF AI”)   ● A United States company   100% owned by Bit Digital, Inc.      ● Incorporated on October 19, 2023          ● Engaged in cloud services                   WhiteFiber Iceland (fka Bit Digital Iceland ehf) (“WF Iceland”)   ● An Icelandic company   100% owned by WhiteFiber AI, Inc      ● Incorporated on August 17, 2023          ● Engaged in cloud services                   WhiteFiber HPC, Inc. (fka Bit Digital HPC, Inc.) (“WF HPC”)   ● A United States company   100% owned by WhiteFiber AI, Inc      ●  Incorporated on June 27, 2024          ● Engaged in HPC business                   WhiteFiber, Inc. (fka Celer, Inc.) (“WhiteFiber”)   ● A United States company   100% owned by Bit Digital, Inc      ● Incorporated on August 15, 2024          ● Engaged in HPC business                   Enovum Data Centers Corp (“Enovum”)   ● A Canadian company   100% owned by WhiteFiber, Inc.      ● Acquired on October 11, 2024          ● Engaged in HPC data center services     

F-9

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation and principles of
consolidation

The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”)
and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).

The consolidated financial statements include
the accounts of the