Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 860

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 860
---
    2023  
    2022 
  
    Current: 

    Federal 
    $170,366  
    $-  
    $96,730 
  
    State 
     65,354  
     12,766  
     (577,939)
  
    Foreign 
     1,440,523  
     1,827  
     - 
  
    Total current income taxes 
    $1,676,243  
    $14,593  
    $(481,209)
  
    Deferred: 

    Federal 
    $-  
    $-  
    $(738,846)
  
    State 
     -  
     -  
     276,479 
  
    Foreign 
     2,301,924  
     264,451  
     350,726 
  
    Total deferred income taxes 
    $2,301,924  
    $264,451  
    $(111,641)
  
    Total income tax provision/(benefit) 
    $3,978,167  
    $279,044  
    $(592,850)

F-38

The significant components of deferred income
tax assets and liabilities were as follows:

    December 31, 2024  
    December 31, 2023 
  
    Deferred tax assets: 

    Net operating losses carry forwards 
    $18,812,792  
    $13,781,487 
  
    Share-based compensation 
     1,092,438  
     919,036 
  
    Capital loss carryforwards 
     -  
     1,549,966 
  
    Accrual bonus 
     73,597  
     66,343 
  
    Lease liability 
     2,178,837  
     - 
  
    Unrealized foreign exchange gain/loss 
     277  
     - 
  
    Other deferred tax assets 
     92,816  
     - 
  
    Gross deferred tax assets 
     22,250,757  
     16,316,832 
  
    Less: valuation allowance 
     (2,904,155) 
     (9,403,958)
  
    Net deferred tax assets 
    $19,346,601  
    $6,912,874