Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 213

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 213
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    Cash, cash equivalents and restricted cash, end of period 
    $184,898,639  
    $61,424,164 

70

Operating Activities

Net cash provided by operating activities was
$35.1 million for the six months ended June 30, 2025, derived mainly from (i) a net loss of $42.8 million for the six months ended June
30, 2025 adjusted for digital assets mined of $14.4 million from our mining services, depreciation expenses and amortization expense of
$15.5 million, losses on digital assets of $22.1 million, share based compensation expenses of $7.1 million, loss from disposal of property,
plant, and equipment of $0.3 million, and changes in fair value of investment security of $0.9 million, and (ii) net changes in our operating
assets and liabilities, principally comprising of a decrease in digital assets and stable coins of $54.0 million, decrease in deferred
revenue of $19.0 million, an increase in accounts receivable of $1.2 million, an increase in other payable and accrued liabilities of
$5.3 million, a decrease in net investment in lease of $1.3 million, a decrease in accounts payable of $0.3 million, a decrease in other
current assets of $3.9 million, and a decrease in other non-current assets of $1.6 million.

Net cash used in operating activities was $30.4 million for the six
months ended June 30, 2024, derived mainly from (i) a net income of $38.1 million for the six months ended June 30, 2024 adjusted for
digital assets of $38.0 million from our mining services, depreciation expenses of property and equipment of $15.2 million, unrealized
gain on digital assets held in fund of $2.7 million, and gains on digital assets of $34.2 million, and (ii) net changes in our operating
assets and liabilities, principally comprising of a decrease in deferred revenue of $13.1 million, decrease in other payable and accrued
liabilities of $3.7 million, and a decrease in net investment in lease of $2.9 million, offset by and an increase in accounts payable
of $3.8 million and other current assets of $8.4 million.

Investing Activities

Net cash used in investing activities was