Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 379

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 5
Chunk 379
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 The investment includes a direct investment into private equity and fund of fund opportunities within the AI industry.

As a practical expedient, the Company uses Net Asset Value (“NAV”) or its equivalent to measure the fair value of the investment in the fund. For the three months ended March 31, 2025, the Company recorded cumulative downward adjustments of $75,000 on the investment.
Investment in Innovation Fund I (“Innovation fund”)

After the Company disposed its BVI entities for its previous fund operation (See Note 21, Disposition of Bit Digital Investment Management Limited and Bit Digital Innovation Master Fund Spc Limited, for more information), the Company no longer consolidates the investment in the fund. As a practical expedient, the Company uses Net Asset Value (“NAV”) or its equivalent to measure the fair value of the investment in the fund. On March 25, 2025, the Company invested additional 3,400 ETH, equivalent to $7,030,398 into the fund. For the three months ended March 31, 2025 and 2024, the Company recorded cumulative downward adjustments of $4,541,248 and upward adjustment of $3,007,862 respectively, on the investment.

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