Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1398

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1398
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71.7 rETH-h earned from the liquid staking activity in 2023. 

F-26

7. OTHER CURRENT ASSETS

Other current assets were comprised of the following:

    December 31,  2024  
    December 31, 2023 
  
    Deposits (a) 
    $1,704,785  
    $1,171,709 
  
    Prepayments to one mining facility (b) 
     290,475  
     382,207 
  
    Prepaid director and officer insurance expenses 
     219,471  
     168,594 
  
    Prepaid consulting service expenses 
     3,016,460  
     931,200 
  
    Deposit for lease 
     63,586  
     50,858 
  
    Deferred contract costs 
     982,039  
     1,041,667 
  
    Prepayment to third parties 
     15,526,472  
     - 
  
    Receivable from third parties 
     6,305,652  
     13,855,949 
  
    Others 
     210,729  
     585,848 
  
    Total 
    $28,319,669  
    $18,188,032 

  (a) As of December 31, 2024 and December 31, 2023, the balance of deposits represented the deposits made to our service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due within 12 months from the effective date of the agreement. 

  (b) As of December 31, 2024 and December 31, 2023, the balance of prepayments to one mining facility represented the prepayments for service charges from the mining facility. 

8. LEASES

Lease as Lessee

For the year ended December 31, 2023, the Company
entered into a capacity lease agreement for its cloud services designed to support generative AI workstreams. The initial lease term is
three years, with automatic renewals for successive twelve-month periods. The lease expense incurred in December 2023 is capitalized as
deferred cost since it is directly related to fulfilling its cloud services which commenced operations in January 2024. The capitalized
lease payment