Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 32

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 32
---
 balance
     
    $
    21,248,027

    $
    3,751,588

Remaining performance obligation

The following table presents estimated revenue
expected to be recognized in the future related to the unsatisfied portion of the performance obligation as of March 31, 2025:

    2025  
    2026  
    2027  
    2028  
    2029  
    Total 
  
    Colocation Services 
    $4,489,318  
    $3,381,881  
    $764,780  
    $20,305  
    $-  
    $8,656,284 
  
    Other Revenue 
     729,505  
     640,543  
     360,111  
     222,236  
    $67,682  
     2,020,077 
  
    Total contract liabilities 
    $5,218,823  
    $4,022,424  
    $1,124,891  
    $242,541  
    $67,682  
    $10,676,361 

4. Acquisitions

On October 11, 2024, the Company acquired 100%
of Enovum Data Centers Corp (the “Acquiree” or “Enovum”), an owner, operator, and developer of high-performance
computing data centers, incorporated in Montreal, Quebec, Canada. The acquisition of Enovum provides the Company with a strong diversity
of existing and prospective colocation customers, delivers a strong pipeline of expansion site opportunities and an experienced management
team to lead the development processes, and enables the Company to offer new service offerings. The acquisition creates the potential
for significant synergies, as the Company may capture additional margin from HPC customers, versus hosting them with third party data
centers. Additionally, Enovum enhances the Company’s competitive positioning in the marketplace, enabling the Company to offer an
integrated GPU cloud solution to customers. Finally, the Company will enjoy greater operating flexibility by collocating its owned GPU
inventory in Enovum data centers, offering capacity to customers on a just-in-time basis.

17

The acquisition-date fair value of the consideration
transferred totaled $43,834,313. The total consideration consists of $38,993,603 of cash consideration and $4,840,710 in equity-classified