Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 54

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 54
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Additional
information regarding the Company’s leasing activities as a lessee is as follows:

     For the Three Months Ended  September 30,   For the Nine Months Ended  September 30,      2025   2024   2025   2024   Operating cash outflows from operating leases  $1,957,334   $1,038,617   $5,139,859   $2,238,617   Weighted average remaining lease term – operating lease   21.4    2.5    21.4    2.5   Weighted average discount rate – operating lease   6.4%   10.2%   6.4%   10.1% 

The
following table represents our future minimum operating lease payments as of September 30, 2025:

    Year 
    Amount 
  
    2025 
    $1,957,531 
  
    2026 
     7,761,039 
  
    2027 
     3,801,727 
  
    2028 
     2,247,084 
  
    2029 
     2,037,351 
  
    2030 and thereafter 
     55,758,253 
  
    Total undiscounted lease payments 
     73,562,985 
  
    Less: present value
    discount 
     (31,646,330)
  
    Present value of lease liability 
    $41,916,655 

The
Company entered into a GPU server lease agreement effective January 2024 for its cloud services designed to support generative AI workstreams.
The lease payment depends on the usage of the GPU servers and the Company concludes that the lease payments are variable and will be
recognized when they are incurred. For the three months ended September 30, 2025 and 2024, the GPU server lease expense amounted to $3.5
million and $3.9 million, respectively. For the nine months ended September 30, 2025 and 2024, the GPU server lease expense amounted
to $11.0 million and $9.8 million, respectively.

Lease
as Lessor

During
the quarter ended March 31, 2024, the Company entered into a sales-type lease agreement as a lessor for its data storage equipment.