Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1239

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 1239
---
     -  
     18,789,998  
     6,548,841 
  
    Impairment of digital assets 
     -  
     (6,632,437) 
     (24,654,267)
  
    Impairment of property and equipment 
     -  
     -  
     (50,038,650)
  
    Loss on write-off of deposit to hosting facility 
     -  
     (2,041,491) 
     (129,845)
  
    Other income (expense), net 
     4,720,713  
     3,005,472  
     1,277,022 
  
    Income tax (expenses) benefits 
     (3,978,167) 
     (279,044) 
     592,850 
  
    Net income (loss) 
    $28,305,810  
    $(13,893,281) 
    $(105,296,603)

F-41

18. RELATED PARTIES

On February 7, 2023 and again on December 8, 2023,
the Board of Directors declared an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”).
Erke Huang, our Chief Financial Officer, is the President of Geney and the beneficial owner of thirty (30%) percent of the equity of Geney,
with the remaining seventy (70%) percent held by Zhaohui Deng, the Company’s Chairman of the Board. As of December 31, 2023, the
Company fully paid the dividend.

On December 20, 2024, the Board of Directors declared
an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”). Erke Huang, our Chief
Financial Officer, is the President of Geney and the beneficial owner of thirty percent (30%) of the equity of Geney, with the remaining
seventy percent (70%) held by Zhaohui Deng, the Company’s Chairman of the Board. The Company fully paid the declared dividend in
January 2025.

Bit Digital Iceland ehf has appointed Daniel Jonsson
as its part-time Chief Executive Officer starting November 7, 2023, for a six-month term with a three-month probation. His compensation
includes