Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 74

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 74
---
 2024 

    Net
    income (loss) 
    $150,883,713  
    $(38,795,486) 
    $108,046,270  
    $(666,729)
  
    Weighted
    average number of ordinary share outstanding 

    Basic 
     317,296,789  
     149,684,237  
     235,907,855  
     130,917,218 
  
    Diluted 
     318,896,222  
     149,684,237  
     236,336,822  
     130,917,218 

    Earnings (loss)
    per share 

    Basic 
    $0.48  
    $(0.26) 
    $0.46  
    $(0.01)
  
    Diluted 
    $0.47  
    $(0.26) 
    $0.46  
    $(0.01)

Basic
earnings (loss) per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number
of ordinary shares outstanding during the period. The computation of diluted net loss per share does not include dilutive ordinary share
equivalents in the weighted average shares outstanding, as they would be anti-dilutive.

For
the three and nine months ended September 30, 2025, 133,198 unvested RSUs, 360,000 stock options and 1,000,000 shares of convertible
preferred shares were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

For
the three and nine months ended September 30, 2024, 467,636 unvested RSUs, 365,000 stock options and 1,000,000 shares of convertible
preferred shares were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

17.
SEGMENT REPORTING

The
Company has four reportable segments digital asset mining, cloud services, colocation services, and ETH Staking. The reportable segments
are identified based on the types of service performed.

Gross
profit is the segment performance measure the chief operating decision maker (“CODM”) uses to assess the Company’s
reportable segments.

The
digital asset mining segment generates revenue from the bitcoin the Company earns through its mining activities. Cost of revenue consists
primarily of