Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 54

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 54
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     2,082,179 
  
    Service costs - ETH staking 
     -  
     -  
     16,433  
     16,433 
  
    Other segment items (b) 
     634,124  
     290,880  
     -  
     925,004 

    Segment gross profit 
    $8,906,828  
    $4,912,257  
    $309,313  
    $14,128,398 

(a)Other revenue is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

(b)All amounts included within Other segment items are individually insignificant.

The following table presents the reconciliation
of segment gross profit to net (loss) income before taxes:

    For the Three Months Ended March 31, 

    2025  
    2024 
  
    Segment gross profit 
    $12,034,260  
    $14,128,398 

    Reconciling Items: 

    Other profit (a) 
     280,567  
     99,748 
  
    Depreciation and amortization expenses 
     (7,241,989) 
     (6,845,949)
  
    General and administrative expenses 
     (8,235,923) 
     (5,955,740)
  
    Gains on digital assets 
     (49,205,227) 
     45,732,577 
  
    Net (loss) from disposal of property and equipment 
     (333,620) 
     - 
  
    Other income (expense), net 
     (4,337,997) 
     4,500,173 
  
    Net (loss) income before taxes 
    $(57,039,929) 
    $51,659,207 

    (a)
    Other profit is primarily attributable to Equipment Leasing and is therefore not included in the total for segment gross profit.

30

Long-lived assets consist of property, plant and
equipment, and operating lease right-of-use assets. The geographic information for long-lived assets as of March 31, 2025 and December
31, 2024 is as follows:

    March 31, 2025  
    December 31, 2024 
  
    United States 
    $21,