Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 787

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 787
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 EBITDA is provided in addition to and
should not be considered to be a substitute for, or superior to net income, the comparable measures under U.S. GAAP. Further, Adjusted
EBITDA should not be considered as an alternative to revenue growth, net income, diluted earnings per share or any other performance measure
derived in accordance with U.S. GAAP, or as an alternative to cash flow from operating activities as a measure of our liquidity. Adjusted
EBITDA has limitations as an analytical tool, and you should not consider such measures either in isolation or as substitutes for analyzing
our results as reported under U.S. GAAP.

Reconciliations of Adjusted EBITDA to the most
comparable U.S. GAAP financial metric for historical periods are presented in the table below: 

    For the Years Ended December 31, 

    2024  
    2023  
    2022 
  
    Reconciliation of non-GAAP income from operations: 

    Net income (loss) 
    $28,305,810  
    $(13,893,281) 
    $(105,296,603)
  
    Depreciation and amortization expenses 
     32,311,056  
     14,426,733  
     27,829,730 
  
    Income tax expenses (benefits) 
     3,978,167  
     279,044  
     (592,850)
  
    EBITDA 
     64,595,033  
     812,496  
     (78,059,723)

    Adjustments: 

    Share based compensation expenses 
     9,876,368  
     9,118,812  
     2,262,691 
  
    Loss on write-off of deposit to hosting facility 
     -  
     2,041,491  
     129,845 
  
    Net loss (gain) from disposal of property and equipment 
     859,083  
     165,160  
     (1,353,299)
  
    Gain from sale of investment security 
     -  
     (8,220) 
     (1,039,999)
  
    Loss (gain) from disposal of a subsidiary 
     978,938  
     -  
     (52,