Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 138

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 138
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634.3 million which includes USDC of $1.0 million, digital assets of $423.7 million
and digital intangible assets of $17.3 million as compared with working capital of $242.2 million as of December 31, 2024. Working capital
is the difference between the Company’s current assets and current liabilities. 

To
date, we have financed our operations primarily through cash flows from operations, sales of our equity securities and the issuance of
convertible notes. We plan to support our future operations primarily from cash generated from our operations and equity financings.
We may also consider debt, preferred and convertible financing on favorable terms.

We
believe our existing cash will be sufficient to fund our anticipated operating cash requirements for at least 12 months following the
date of this filing.

70

Between
May and August 2023, the Company issued an aggregate of 6,747,663 ordinary shares to Ionic Ventures LLC for gross proceeds of $22.0 million.
The Company received net proceeds of approximately $21.0 million after deducting commissions payable to the placement agent.

In
2023, the Company sold an aggregate of 14,744,026 ordinary shares in connection with its at-the-market offering pursuant to a registration
statement on Form F-3 declared effective by the SEC on May 4, 2022, which registered up to $500 million of the Company’s ordinary
shares, preference shares, debt securities, warrants, units and subscription rights (the “F-3 Registration Statement”). The
Company received net proceeds of $45.3 million, net of offering costs.

In
2024, the Company sold an aggregate of 67,246,628 ordinary shares in connection with its at-the-market offering pursuant to the F-3 Registration
Statement. The Company received net proceeds of $242.9 million, net of offering costs.

On
October 11, 2024, the Company acquired all of the issued and outstanding capital stock of Enovum Data Centers Corp. in a transaction
valued at approximately CAD 62.8 million (approximately $46.0 million).

In
the first quarter of 2025, the Company sold an aggregate of 3,149,887 ordinary shares in connection with the at-the-market offering.
The Company received net proceeds of $10.2 million, net of offering costs.

On
April 29, 2025, the Company filed a registration statement on Form S-3 (