Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 161

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 161
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 taken and could be taken in the
future, have created and can further create significant global economic uncertainty that could prolong or expand such conflicts, which
could have a lasting impact on regional and global economies and harm our business and operating results.

WhiteFiber
has a very limited history of operating as an independent, public company, and its historical financial information is not necessarily
representative of the results that it would have achieved as a separate, publicly traded company and may not be a reliable indicator
of its future results.

The
historical information of WhiteFiber in its public filings refers to its businesses as operated by and integrated with Bit Digital, Inc.
(“Bit Digital”) prior to WhiteFiber’s October 2024 acquisition of Enovum. The historical financial information
of WhiteFiber included in such filings are derived from the combined financial statements and accounting records of Bit Digital and WhiteFiber
AI, Inc. and its combined subsidiaries. Accordingly, the historical financial information included in such filings does not necessarily
reflect the financial condition, results of operations and cash flows that WhiteFiber would have achieved as a separate, publicly traded
company during the periods presented nor those that WhiteFiber will achieve in the future, primarily as a result of the factors described
below:

    ●
    Prior to its initial public
    offering, WhiteFiber’s business had been operated by Bit Digital as part of its broader corporate organization, rather than
    as an independent company, and Bit Digital or one of its affiliates performed certain corporate functions for WhiteFiber. WhiteFiber’s
    historical financial results reflect allocations of corporate expenses from Bit Digital for such functions and are likely to be less
    than the expenses WhiteFiber would have incurred had it operated as a separate publicly traded company.

    ●
    Historically, WhiteFiber
    shared economies of scope and scale in costs, employees and vendor relationships. Although WhiteFiber has entered into a transition
    services agreement (the “Transition Services Agreement”) with Bit Digital, these arrangements may not retain or fully
    capture the benefits that WhiteFiber has enjoyed as a result of being integrated with Bit Digital and may result in it paying higher
    charges than in the past for these services. This could have a material adverse effect on WhiteFiber’s business, financial
    position, results of operations and cash flows following the completion of the distribution.

    ●
    Generally, WhiteFiber’s
    working capital requirements and capital for its