Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 86

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 86
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,155,038 and total liabilities of $0, with net assets of $1,155,038 which
is accounted for approximately 0.4% of the unaudited consolidated net assets of the Company as of September 30, 2024. The Company recorded
a loss of $979,038 from the disposal under “other income (loss), net” in the consolidated statements of operations.

42

Bit
Digital Innovation Master Fund SPC Limited was incorporated on May 31, 2023 and is a segregated portfolio company. Bit Digital Innovation
Master Fund SPC Limited did not have any net assets as of September 30, 2024. The Company recorded a gain of $100 from the disposal under
“other income (loss), net” in the consolidated statements of operations.

Management
believes that the disposition of Bit Digital Investment Management Limited and Bit Digital Innovation Master Fund SPC Limited does not
represent a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. The disposition
is not accounted for discontinued operations in accordance with ASC 205-20.

21.
SUBSEQUENT EVENTS 

On
October 31, 2025, the Company entered into an amendment to its At The Market Offering Agreement, originally dated April 29, 2025, with
H.C. Wainwright & Co., LLC, to reflect the effectiveness of its new shelf registration statement on Form S-3. On the same date, the
registration statement on Form S-3 (File No. 333-291205) was automatically effective upon its filing with the U.S. Securities and Exchange
Commission, allowing the Company to offer and sell up to $2.5 billion of its Ordinary Shares under the at-the-market offering program.

Subsequent
to September 30, 2025, the Company sold 1,534,575 ordinary shares for aggregate proceeds of approximately $5.0 million pursuant to the
at-the-market offering agreement with H.C. Wainwright & Co., LLC. The Company received net proceeds of $4.9 million, net of offering
costs.

MTL-3
Colocation agreement with Cerebras

The
Company began generating revenue in early October 2025 and, effective November 1, 2025, commenced billing its customer the full monthly
contractual amount of CAD 1.4 million (approximately USD $979 thousand) for 5 MW of capacity at the MTL-