Bit Digital (BTBT) 20-F 27 Apr 23 2022 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information - shares	12 Months Ended
	Dec. 31, 2022	Apr. 27, 2023
Document Information Line Items
Entity Registrant Name	Bit Digital, Inc.
Trading Symbol	BTBT
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		82,426,279
Amendment Flag	false
Entity Central Index Key	0001710350
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38421
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	33 Irving Place
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10003
Title of 12(b) Security	Ordinary shares, par value US$0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
Auditor Firm ID	3487
Auditor Name	Audit Alliance LLP
Auditor Location	Singapore
Business Contact
Document Information Line Items
Entity Address, Address Line One	33 Irving Place
Entity Address, City or Town	NY
Entity Address, Country	US
Entity Address, Postal Zip Code	10003
Contact Personnel Name	Sam Tabar
City Area Code	(212)
Local Phone Number	463-5121
Contact Personnel Email Address	sam@bit-digital.com

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 32,691,060	$ 42,398,528
Restricted cash	1,320,000
USDC	626,441	15,829,464
Digital assets	27,587,328	29,039,761
Income tax receivable	736,445
Other current assets	1,433,999	3,050,616
Total Current Assets	64,395,273	90,318,369
Non-Current Assets
Investment securities	1,787,922	1,000,000
Deposits for property and equipment	2,594,881	43,094,881
Property and equipment, net	22,609,391	32,489,158
Deferred tax assets		58,081
Other non-current assets	9,033,200	6,714,571
Total Non-Current Assets	36,025,394	83,356,691
Total Assets	100,420,667	173,675,060
Current Liabilities
Accounts payable	3,628,619	2,608,899
Income tax payable		559,774
Accrued litigation settlement cost	2,100,000
Other payables and accrued liabilities	1,714,735	1,875,933
Total Current Liabilities	7,443,354	5,044,606
Non-Current Liabilities
Deferred tax liabilities		462,372
Long-term income tax payable	3,044,004	2,767,276
Total Non-Current Liabilities	3,044,004	3,229,648
Total Liabilities	10,487,358	8,274,254
Commitments and Contingencies
Shareholders’ Equity
Preferred shares, $0.01 par value, 10,000,000 and 10,000,000 shares authorized, 1,000,000 and 1,000,000 shares issued and outstanding of December 31, 2022 and 2021, respectively	9,050,000	9,050,000
Ordinary shares, $0.01 par value, 340,000,000 and 340,000,000 shares authorized, 82,485,583 and 69,591,389 shares issued and outstanding of December 31, 2022 and 2021, respectively	824,856	695,914
Treasury stock, at cost, 129,986 and 115,514 shares as of December 31, 2022 and 2021, respectively	(1,171,679)	(1,094,859)
Additional paid-in capital	212,646,143	182,869,159
Accumulated deficit	(131,416,011)	(26,119,408)
Total Shareholders’ Equity	89,933,309	165,400,806
Total Liabilities and Shareholders’ Equity	$ 100,420,667	$ 173,675,060

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred shares, authorized	10,000,000	10,000,000
Preferred shares, issued	1,000,000	1,000,000
Preferred shares, outstanding	1,000,000	1,000,000
Common shares, par value (in Dollars per share)	$ 0.01	$ 0.01
Common shares, authorized	340,000,000	340,000,000
Common shares, issued	82,485,583	69,591,389
Common shares, outstanding	82,485,583	69,591,389
Treasury stock shares	129,986	115,514

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 32,296,593	$ 96,078,570	$ 21,065,113
Operating costs and expenses
Cost of revenue (exclusive of depreciation and amortization shown below)	(20,374,633)	(30,739,776)	(14,104,628)
Depreciation and amortization expenses	(27,829,730)	(13,113,964)	(3,324,655)
General and administrative expenses	(23,114,629)	(39,154,204)	(2,515,117)
Realized gain on exchange of digital assets	6,548,841	20,813,167	1,434,544
Impairment of digital assets	(24,654,267)	(27,993,571)	(997,954)
Impairment of property and equipment	(50,038,650)
Total operating expenses	(139,463,068)	(90,188,348)	(19,507,810)
(Loss) income from operations	(107,166,475)	5,890,222	1,557,303
Net gain (loss) from disposal of property and equipment	1,353,299	(3,746,247)
Gain from sale of investment security	1,039,999
Other (expense) income, net	(1,116,276)	702,414	(1,924)
Total other income (expenses), net	1,277,022	(3,043,833)	(1,924)
(Loss) income before income taxes	(105,889,453)	2,846,389	1,555,379
Income tax expenses	592,850	(3,856,341)
Net (loss) income from continuing operations	(105,296,603)	(1,009,952)	1,555,379
Net loss from discontinued operations, net of income taxes			(3,834,683)
Net loss	(105,296,603)	(1,009,952)	(2,279,304)
Other comprehensive income, net of tax
Reclassified to net loss from discontinued operations			100,185
Comprehensive loss	$ (105,296,603)	$ (1,009,952)	$ (2,179,119)
Weighted average number of ordinary share outstanding
Basic (in Shares)	78,614,174	55,440,527	30,591,122
Diluted (in Shares)	78,614,174	55,440,527	30,591,122
Loss per share
Basic (in Dollars per share)	$ (1.34)	$ (0.02)	$ (0.07)
Diluted (in Dollars per share)	$ (1.34)	$ (0.02)	$ (0.07)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Preferred Shares	Common Shares	Treasury Stocks	Shares Subscription Receivables	Additional paid-in capital	Retained earnings (accumulated deficit) Statutory reserves	Retained earnings (accumulated deficit) Unrestricted	Accumulated Other comprehensive loss	Non-controlling interest	Total
Balance at Dec. 31, 2019		$ 153,992		$ (45,457)	$ 17,610,220	$ 6,189	$ (13,790,152)	$ (100,185)	$ 252,333	$ 4,086,940
Balance (in Shares) at Dec. 31, 2019		15,399,185
Issuance of ordinary shares pursuant to certain private placements		$ 280,000			19,520,000					19,800,000
Issuance of ordinary shares pursuant to certain private placements (in Shares)		28,000,000
Issuance of ordinary shares in exchange of bitcoin miners		$ 43,446			15,423,341					15,466,787
Issuance of ordinary shares in exchange of bitcoin miners (in Shares)		4,344,603
Net loss										(2,279,304)
Issuance of ordinary shares to service consultants		$ 3,000			453,000					456,000
Issuance of ordinary shares to service consultants (in Shares)		300,000
Disposition of peer-to-peer lending business and the car rental business				45,457	213,065	(6,189)			(252,333)
Net loss							(2,279,304)			(2,279,304)
Reclassified to net loss from discontinued operations, net of tax								100,185		100,185
Balance at Dec. 31, 2020		$ 480,438			53,219,626		(16,069,456)			37,630,608
Balance (in Shares) at Dec. 31, 2020		48,043,788
Balance (in Shares) at Dec. 31, 2020		48,043,788
Balance (in Shares) at Dec. 31, 2020		48,043,788
Balance (in Shares) at Dec. 31, 2020		48,043,788
Issuance of ordinary shares pursuant to certain private placements		$ 137,528			71,200,206					71,337,734
Issuance of ordinary shares pursuant to certain private placements (in Shares)		13,752,810
Issuance of ordinary shares pursuant to conversion of convertible notes		$ 2,797			1,277,203					1,280,000
Issuance of ordinary shares pursuant to conversion of convertible notes (in Shares)		279,662
Issuance of ordinary shares pursuant to direct offerings		$ 61,972			34,193,028					34,255,000
Issuance of ordinary shares pursuant to direct offerings (in Shares)		6,197,194
Share-based compensation in connection with issuance of ordinary shares		$ 1,802			1,444,296					1,446,098
Share-based compensation in connection with issuance of ordinary shares (in Shares)		180,232
Issuance of ordinary shares in connection with share-based compensation		$ 22,532			20,438,786					20,461,318
Issuance of ordinary shares in connection with share-based compensation (in Shares)		2,253,217
Exchange of ordinary share into preferred share	$ 9,050,000	$ (10,000)					(9,040,000)
Exchange of ordinary share into preferred share (in Shares)	1,000,000	(1,000,000)
Withholding of ordinary shares for payment of employee withholding taxes		$ (1,155)	(1,094,859)		1,096,014
Withholding of ordinary shares for payment of employee withholding taxes (in Shares)		(115,514)
Net loss										(1,009,952)
Net loss							(1,009,952)			(1,009,952)
Balance at Dec. 31, 2021										165,400,806
Balance (in Shares) at Dec. 31, 2021	1,000,000	69,591,389
Balance at Dec. 31, 2021	$ 9,050,000	$ 695,914	(1,094,859)		182,869,159		(26,119,408)			165,400,806
Balance at Dec. 31, 2021	$ 9,050,000	$ 695,914	(1,094,859)		182,869,159		(26,119,408)			165,400,806
Balance (in Shares) at Dec. 31, 2021	1,000,000	69,591,389
Balance at Dec. 31, 2021	$ 9,050,000	$ 695,914	(1,094,859)		182,869,159		(26,119,408)			165,400,806
Balance (in Shares) at Dec. 31, 2021	1,000,000	69,591,389
Balance at Dec. 31, 2021	$ 9,050,000	$ 695,914	(1,094,859)		182,869,159		(26,119,408)			165,400,806
Balance (in Shares) at Dec. 31, 2021	1,000,000	69,591,389
Withholding of ordinary shares for payment of employee withholding taxes		$ (145)	(76,820)		145					(76,820)
Withholding of ordinary shares for payment of employee withholding taxes (in Shares)		(14,472)
Share-based compensation in connection with issuance of ordinary shares to employees		$ 1,618			1,807,964					1,809,582
Share-based compensation in connection with issuance of ordinary shares to employees (in Shares)		161,768
Share-based compensation in connection with issuance of ordinary shares to consultants and director		$ 240			121,860					122,100
Share-based compensation in connection with issuance of ordinary shares to consultants and director (in Shares)		24,000
Share-based compensation in connection with issuance of share options to employees					326,712					326,712
Share-based compensation in connection with issuance of share options to employees (in Shares)
Share-based compensation in connection with issuance of ordinary shares for marketing services		$ 2,451			997,549					1,000,000
Share-based compensation in connection with issuance of ordinary shares for marketing services (in Shares)		245,098
Issuance of ordinary shares in connection with private placements with an institutional investor		$ 109,903			20,900,097					21,010,000
Issuance of ordinary shares in connection with private placements with an institutional investor (in Shares)		10,990,327
Issuance of ordinary shares in exchange of bitcoin miners		$ 14,875			5,622,657					5,637,532
Issuance of ordinary shares in exchange of bitcoin miners (in Shares)		1,487,473
Net loss							(105,296,603)			(105,296,603)
Balance at Dec. 31, 2022	$ 9,050,000	$ 824,856	$ (1,171,679)		$ 212,646,143		$ (131,416,011)			$ 89,933,309
Balance (in Shares) at Dec. 31, 2022	1,000,000	82,485,583

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities:
Net loss	$ (105,296,603)	$ (1,009,952)	$ (2,279,304)
Less: Net loss from discontinued operations			3,834,683
Net (loss) income from continuing operations	(105,296,603)	(1,009,952)	1,555,379
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation of property and equipment	27,829,730	13,113,964	3,324,655
(Gain) loss from disposal of property and equipment	(1,353,299)	3,746,247
Realized gain on exchange of digital assets	(6,548,841)	(20,813,167)	(1,434,544)
Impairment of digital assets	24,654,267	27,993,571	997,954
Impairment of property and equipment	50,038,650
Gain from sale of investment security	(1,039,999)
Share based compensation expenses in connection with restricted stock units and share options	2,262,691	20,461,318
Share based compensation expenses in connection with issuance of ordinary shares		1,446,098	456,000
Liquidated damage expenses	619,355
Gain from divestiture of a subsidiary	(52,383)
Loss from acquisition of a subsidiary			1,964
Deferred tax (benefits) expenses	(404,290)	404,291
Changes in fair value of investment security	545,412
Provision of doubtful accounts	129,845
Digital assets mined	(32,270,689)	(96,078,570)	(21,065,113)
Digital assets earned from staking	(25,904)
Changes in operating assets and liabilities:
Digital assets and stable coins	25,140,951	5,706,790	2,856,627
Other current assets	2,472,503	(257,736)	(1,762,167)
Other non-current assets	(2,318,629)	(5,538,500)
Accounts payable	3,163,976	21,551,220	14,284,286
Income tax recoverable/payable	(1,296,169)	559,774
Long-term income tax payable	276,728	2,767,276
Other payables and accrued liabilities	4,976,670	8,595,484	(186,731)
Net Cash Used in Operating Activities	(8,496,028)	(17,351,892)	(971,690)
Cash Flows from Investing Activities:
Purchases of property and equipment	(19,333,310)	(6,466,270)	(4,505,491)
Deposits for property and equipment		(40,374,950)
Proceeds from sales of property and equipment	1,081,075
Proceeds from disposal of long-term investment	1,706,665
Loss of cash in connection with divestiture of a subsidiary	(59,695)
Acquisition of cash in connection with acquisition of a subsidiary			11,326
Investment in an equity security	(2,000,000)
Net Cash Used in Investing Activities	(18,605,265)	(46,841,220)	(4,494,165)
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares under private placement, net of issuance costs	21,010,000	74,958,366	5,248,000
Proceeds from issuance of ordinary shares under direct offering, net of issuance costs		34,255,000
Proceeds from issuance of convertible notes, net of issuance costs		1,280,000
Payment of liquidated damages related to private placement transactions	(2,219,355)	(3,200,000)
Withholding of common shares to pay employee withholding taxes	(76,820)	(1,094,859)
Proceeds from borrowings from related parties			7,000
Repayment of borrowings to related parties		(12,000)
Net Cash Provided by Financing Activities	18,713,825	106,186,507	5,255,000
Net (decrease) increase in cash, cash equivalents and restricted cash	(8,387,468)	41,993,395	(210,855)
Cash, cash equivalents and restricted cash, beginning of year	42,398,528	405,133	630,650
Cash, cash equivalents and restricted cash, end of year	34,011,060	42,398,528	419,795
Less: cash, cash equivalents and restricted cash from discontinued operations, end of year			14,662
Cash, cash equivalents and restricted cash from continuing operations, end of year	34,011,060	42,398,528	405,133
Supplemental Cash Flow Information
Cash paid for interest expense
Cash paid for income tax	734,200	125,000
Non-cash Transactions of Investing and Financing Activities
Collection of USDC from private placement		1,179,368	14,552,000
Proceeds from sales of miners in USDT		9,441,561
Investment in an investment security in USDC		(1,000,000)
Purchases of property and equipment in USDT		(21,103,910)
Purchases of property and equipment in USDC	(2,366,580)	(895,893)	(14,416,498)
Issuance of ordinary shares in exchange of property and equipment	(5,637,523)		(15,466,787)
Reclassification of deposits to property and equipment	(40,524,763)
Payment of deposits on equipment in BTC		(13,226,077)
Repayment of USDC to a related party		(329,722)
Collection of USDC from a related party			329,722
Collection of USDC from sales of property and equipment	712,800
Cash and cash equivalents	32,691,060	42,398,528
Restricted cash	1,320,000
Cash, cash equivalents and restricted cash	$ 34,011,060	$ 42,398,528

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2022
Organization and Principal Activities [Abstract]
ORGANIZATION AND PRINCIPAL ACTIVITIES	1. ORGANIZATION AND PRINCIPAL ACTIVITIES Bit Digital, Inc. (“BTBT” or the “Company”), formerly known as Golden Bull Limited, is a holding company incorporated on February 17, 2017, under the laws of the Cayman Islands. The Company is currently engaged in the digital asset mining business and Ethereum staking activities through its wholly owned subsidiaries. The accompanying consolidated financial statements reflect the activities of the Company and each of the following entities: Name Background Ownership Bit Digital USA, Inc. (“BT USA”) ● A United States company 100% owned by Bit Digital, Inc. Bit Digital Canada, Inc. (“BT Canada”) ● A Canadian company 100% owned by Bit Digital, Inc. Bit Digital Hong Kong Limited (“BT HK”) ● A Hong Kong company 100% owned by Bit Digital, Inc. Bit Digital Strategies Limited (“BT Strategies”) ● A Hong Kong company 100% owned by Bit Digital, Inc. Bit Digital Singapore PTE. LTD. (“BT Singapore”) ● A Singapore company 100% owned by Bit Digital, Inc.

Restatement of Previously Issue

Restatement of Previously Issued Financial Statements	12 Months Ended
	Dec. 31, 2022
Restatement Of Previously Issued Financial Statements Abstract
RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	2. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company accounts for its digital assets (including Bitcoin and ETH) held as an intangible asset and tested it for impairment on a daily basis based on quoted prices of digital assets, historically utilizing the closing price of digital assets. During the preparation of this Annual Report, the Company determined it has not been appropriately calculating its impairment of digital assets. The Company determined that its method of calculating impairment of its digital assets was not in compliance with the ASC 350-30-35-19 requirement to recognize impairment whenever carrying value exceeds fair value. Effectively, the Company determined that ASC 350-30-35-19 calls for the intraday low price of digital assets to be utilized in calculating impairment of the Company’s digital assets held as that metric is the most accurate indicator of whether it is more likely than not that the asset is impaired. Updating of the Company’s historical calculations of digital assets impairment amounts resulted in correction of Impairment of digital assets, in some cases, Realized gains on exchange of digital assets. In accordance with Staff Accounting Bulletin (“SAB”) 99, Materiality Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements The following tables present the effects of correcting this error on the Company’s financial statements as of December 31, 2021, and for the years ended December 31, 2021 and 2020: As of December 31, 2021 Consolidated Balance Sheet As previously Adjustment As restated Digital assets $ 35,282,682 $ (6,242,921 ) $ 29,039,761 Total current assets $ 96,561,290 $ (6,242,921 ) $ 90,318,369 Total assets $ 179,917,981 $ (6,242,921 ) $ 173,675,060 Accumulated deficit $ (19,876,487 ) $ (6,242,921 ) $ (26,119,408 ) Total shareholders’ equity $ 171,643,727 $ (6,242,921 ) $ 165,400,806 Total liabilities and shareholders’ equity $ 179,917,981 $ (6,242,921 ) $ 173,675,060 For the Year Ended Consolidated Statement of Operations As previously Adjustment As restated Realized gain on exchange of digital assets $ 7,738,557 $ 13,074,610 $ 20,813,167 Impairment of digital assets $ (9,045,007 ) $ (18,948,564 ) $ (27,993,571 ) Total operating expenses $ (84,314,394 ) $ (5,873,954 ) $ (90,188,348 ) Income from operations $ 11,764,176 $ (5,873,954 ) $ 5,890,222 Income before income taxes $ 8,720,343 $ (5,873,954 ) $ 2,846,389 Net income (loss) from continuing operations $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Net income (loss) and comprehensive income (loss) $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Weighted average number of ordinary share outstanding – diluted 57,529,895 (2,089,368 ) 55,440,527 Earnings (loss) per share – basic $ 0.09 $ (0.11 ) $ (0.02 ) Earnings (loss) per share – diluted $ 0.08 $ (0.10 ) $ (0.02 ) For the Year Ended Consolidated Statement of Operations As previously Adjustment As restated Realized gain on exchange of digital assets $ 805,557 $ 628,987 $ 1,434,544 Impairment of digital assets $ - $ (997,954 ) $ (997,954 ) Total operating expenses $ (19,138,843 ) $ (368,967 ) $ (19,507,810 ) Income from operations $ 1,926,270 $ (368,967 ) $ 1,557,303 Income before income taxes $ 1,924,346 $ (368,967 ) $ 1,555,379 Net income from continuing operations $ 1,924,346 $ (368,967 ) $ 1,555,379 Net loss $ (1,910,337 ) $ (368,967 ) $ (2,279,304 ) Comprehensive loss $ (1,810,152 ) $ (368,967 ) $ (2,179,119 ) Loss per share – basic $ (0.06 ) $ (0.01 ) $ (0.07 ) Loss per share – diluted $ (0.06 ) $ (0.01 ) $ (0.07 ) For the Year Ended Consolidated Statement of Stockholders’ Equity Accumulated deficit Total shareholders’ Net income (as previously reported) $ 4,864,002 $ 4,864,002 Net loss (adjustment) $ (5,873,954 ) $ (5,873,954 ) Net loss (as restated) $ (1,009,952 ) $ (1,009,952 ) Balance as of December 31, 2021 (as previously reported) $ (19,876,487 ) $ 171,643,727 Balance as of December 31, 2021 (adjustment) $ (6,242,921 ) $ (6,242,921 ) Balance as of December 31, 2021 (as restated) $ (26,119,408 ) $ 165,400,806 For the Year Ended Consolidated Statement of Stockholders’ Equity Accumulated deficit Total shareholders’ Net loss (as previously reported) $ (1,910,337 ) $ (1,910,337 ) Net loss (adjustment) $ (368,967 ) $ (368,967 ) Net loss (as restated) $ (2,279,304 ) $ (2,279,304 ) Balance as of December 31, 2020 (as previously reported) $ (15,700,489 ) $ 37,999,575 Balance as of December 31, 2020 (adjustment) $ (368,967 ) $ (368,967 ) Balance as of December 31, 2020 (as restated) $ (16,069,456 ) $ 37,630,608 For the Year Ended Consolidated Statement of Cash Flows As previously Adjustment As restated Net income (loss) $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Net income (loss) from continuing operations $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Digital assets generated from mining $ - $ (96,078,570 ) $ (96,078,570 ) Realized gain on exchange of digital assets $ - $ (20,813,167 ) $ (20,813,167 ) Impairment of digital assets $ 9,045,007 $ 18,948,564 $ 27,993,571 Digital assets and stable coins $ (104,117,143 ) $ 109,823,933 $ 5,706,790 Other payables and accrued liabilities $ 8,695,500 $ (100,016 ) $ 8,595,484 Net Cash Used in Operating Activities $ (23,258,682 ) $ 5,906,790 $ (17,351,892 ) Proceeds from sales of digital assets $ 5,906,790 $ (5,906,790 ) $ - Net Cash Used in Investing Activities $ (40,934,430 ) $ (5,906,790 ) $ (46,841,220 ) For the Year Ended Consolidated Statement of Cash Flows As previously Adjustment As restated Net loss $ (1,910,337 ) $ (368,967 ) $ (2,279,304 ) Net income (loss) from continuing operations $ 1,924,346 $ (368,967 ) $ 1,555,379 Digital assets generated from mining $ - $ (21,065,113 ) $ (21,065,113 ) Realized gain on exchange of digital assets $ - $ (1,434,544 ) $ (1,434,544 ) Impairment of digital assets $ - $ 997,954 $ 997,954 Digital assets and stable coins $ (21,440,377 ) $ 24,297,004 $ 2,856,627 Other payables and accrued liabilities $ (207,803 ) $ 21,072 $ (186,731 ) Net Cash Used in Operating Activities $ (3,419,096 ) $ 2,447,406 $ (971,690 ) Proceeds from sales of digital assets $ 2,447,406 $ (2,447,406 ) $ - Net Cash Used in Investing Activities $ (2,046,759 ) $ (2,447,406 ) $ (4,494,165 )

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation. Use of estimates In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include, but are not limited to, the valuation of digital assets and other current assets, useful lives of property and equipment, the recoverability of long-lived assets, provision necessary for contingent liabilities and realization of deferred tax assets. Actual results could differ from those estimates. Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 - inputs to the valuation methodology are unobservable. Fair value of digital assets is based on quoted prices in active markets. The fair value of the Company’s other financial instruments including cash and cash equivalents, restricted cash, deposits, other receivables, accounts payable, and other payables, approximate their fair values because of the short-term nature of these assets and liabilities. Warrants were measured at fair value using unobservable inputs and categorized in Level 3 of the fair value hierarchy (Note 11). Cash and cash equivalents Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. The Company considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. USDC USD Coin (“USDC”) is accounted for as a financial instrument; USDC which can be redeemed one USDC for one U.S. dollar on demand from the issuer. While not accounted for as cash or cash equivalents, we treat our USDC holdings as a liquidity resource. Digital assets Digital assets (primarily include bitcoin and ETH) are included in current assets in the accompanying consolidated balance sheets. Digital assets purchased are recorded at cost and digital assets awarded to the Company through its mining activities and staking activities are accounted for in accordance with the Company’s revenue recognition policy disclosed below. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Digital assets held are accounted for as intangible assets with indefinite useful lives and are subject to impairment losses if the fair value of digital assets decreases below the carrying value at any time during the period. The fair value is measured using the quoted price of the digital assets at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Purchases of digital assets by the Company and digital assets awarded to the Company through its mining activities and staking activities are included within operating activities on the accompanying consolidated statements of cash flows. The changes of digital assets are included within operating activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in “realized gain (loss) on exchange of digital assets” in the consolidated statements of operations and comprehensive loss. The Company accounts for its gains or losses in accordance with the first-in first-out method of accounting. ASC 820 defines “principal market” as the market with the greatest volume and level of activity for the asset or liability. The determination of the principal market (and, as a result, the market participants in the principal market) is made from the perspective of the reporting entity. The digital assets held by the Company are traded on a number of active markets globally. The Company does not use any exchanges to buy or sell of digital assets. Instead, the Company uses Amber Group’s OTC desk for selling or exchanging bitcoins for U.S. dollars or vice versa. The Company determines CoinMarketCap as its principal market, as it is one of the earliest and the most trusted sources by users, institutions, and media for comparing thousands of crypto assets and selected by the U.S. government. The Company also used hourly close price from CryptoCompare to recognize revenue from our digital asset mining activities. The Company believes the hourly close price can better reflect revenue recognized from our digital asset mining activities as compared to daily close price from CoinMarketCap. Investment security As of December 31, 2022, investment security represents the Company’s investment in one fund and one privately held company, over which the Company neither has control nor significant influence through investment in ordinary share. As of December 31, 2021, investment security represents the Company’s investment in one privately held company, over which the Company neither has control nor significant influence through investment in ordinary share. Investment in the fund Equity securities not accounted for using the equity method are carried at fair value with unrealized gains and losses recorded in the consolidated income statements, according to ASC 321, Investments - Equity Securities Investment in the privately held company Equity securities not accounted for using the equity method are carried at fair value with unrealized gains and losses recorded in the consolidated income statements, according to ASC 321, Investments - Equity Securities Equity investments in privately held companies accounted for using the measurement alternative are subject to periodic impairment reviews. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of these equity securities, including consideration of the impact of the COVID-19 pandemic. In computing realized gains and losses on equity securities, the Company determines cost based on amounts paid using the average cost method. Dividend income is recognized when the right to receive the payment is established. Deposits for property and equipment The deposits for property and equipment represented advance payments for miner purchases. The Company initially recognizes deposits for property and equipment when cash is advanced to suppliers of our miners. Subsequently, the Company derecognizes and reclassifies deposits for property and equipment to property and equipment when control over these miners is transferred to and obtained by the Company. Below is the roll forward of the balance of deposits for property and equipment for the years ended December 31, 2022 and 2021, respectively. For the Years Ended 2022 2021 Opening balance $ 43,094,881 $ 1,324,963 Reclassification to property and equipment (40,500,000 ) (1,199,913 ) Addition of deposits for property and equipment - 43,094,881 Write-off of deposit - (125,050 ) Ending balance $ 2,594,881 $ 43,094,881 Property and equipment, net Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets. The Company’s property and equipment were primarily comprised of digital asset miners with estimated useful lives of three years. Impairment of long-lived assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Revenue recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not The Company recognizes revenue when it transfers its goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. Digital asset mining The Company has entered into digital asset mining pools by executing contracts with the mining pool operators to provide computing power to the mining pool. The contract is terminable at any time by either party with no termination penalty. Our enforceable right to compensation begins when, and lasts for as long as, we provide computing power to the mining pool operator; our performance obligation extends over the contract term given our continuous provision of computing power. This period of time corresponds with the period of service for which the mining pool operator determines compensation due to us. Given cancellation terms of the contract, and our customary business practice, the contract effectively provides the option to renew for successive contract terms daily. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed digital assets award the mining pool operator receives, for successfully adding a block to the blockchain. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. The Company is entitled to its relative share of consideration even if a block is not successfully placed. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration. ASC 606-10-32-21 requires entities to measure the estimated fair value of noncash consideration at contract inception. Because the consideration to which the Company expects to be entitled for providing computing power is entirely variable, as well as being noncash consideration, the Company assesses the estimated amount of the variable noncash consideration at contract inception and subsequently, to determine when and to what extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is subsequently resolved. Because it is probable that a significant reversal of cumulative revenue will not occur and the Company is able to calculate the payout based on the contractual formula. This amount should be estimated and recognized in revenue upon inception, which is when hash rate is provided. For reasons of operational practicality, the Company applies an accounting convention to use the daily quoted closing U.S. dollar spot rate of digital asset each day to determine the fair value of digital asset on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. Fair value of the digital assets award received is determined using the quoted price of the related digital assets at the time of receipt. There is currently no specific definitive guidance under US GAAP or alternative accounting framework for the accounting for digital assets recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Below table presents the Company’s revenues generated from digital asset mining business by countries: For the Years Ended December 31, 2022 2021 2020 United States $ 31,132,771 $ 33,573,412 $ 307,673 Canada 1,137,918 640,554 - Hong Kong - 61,864,604 20,757,440 $ 32,270,689 $ 96,078,570 $ 21,065,113 Below table presents the Company’s revenues by mining pool operators: For the Years Ended December 31, 2022 2021 2020 Foundry USA Pool $ 32,270,689 $ 27,862,786 $ - Huobi Pool - 58,607,927 19,641,993 Antpool - 9,607,857 347,981 Poolin - - 1,075,139 $ 32,270,689 $ 96,078,570 $ 21,065,113 Note: The revenue by mining pool operator is allocation of total revenue based on the number of digital assets mined for the years ended on December 31, 2021 and 2020. ETH staking business The Company also generates revenue through ETH staking rewards. The ETH staking business is comprised of native staking and liquid staking. (a) Native staking The Company has entered into network-based smart contracts by staking ETH on nodes run by third-party operators or nodes maintained by us in 2022. Through these contracts, the Company stakes ETH on nodes for the purpose of validating transactions and adding blocks to the Ethereum blockchain network. The staked ETHs remained locked up until the Shanghai upgrade occurred on April 12, 2023. In exchange for staking the ETH and validating transactions on blockchain networks, the Company is entitled to the block rewards and transaction fees for successfully validating or adding a block to the blockchain. These rewards are received by the Company directly from the Ethereum network and are calculated approximately based on the proportion of the Company’s stake to the total ETH staked by all validators. The provision of validating blockchain transactions is an output of the Company’s ordinary activities. Each separate block creation or validation under a smart contract with a network represents a performance obligation. The transaction consideration the Company receives, the digital asset awards, is a non-cash consideration, which the Company measures at fair value on the date received. The fair value of the ETH reward received is determined using the quoted price of the ETH at the time of receipt. The satisfaction of the performance obligation for transaction verification services occurs at a point in time when confirmation is received from the network indicating that the validation is complete, and the awards are deposited to our address. At that point, revenue is recognized. The Company commenced native staking business in the year ended December 31, 2022. For the year ended December 31, 2022, the Company generated revenues of $5,722 from the native staking. (b) Liquid staking The liquid staking is similar to native staking in terms of performance obligations, determination of transaction price and revenue recognition. However liquid staking solves this illiquidity problem arising from the native staking. During the liquid staking transactions Shanghai upgrade occurred on April 12, 2023, the Company receives receipt tokens sETH-H to represent staked ETH at 1:1 ratio. The liquid staking rewards are in the form of rETH-H which could be redeemed for ETH from the liquid staking provider or exchange for ETH via OTC. The Company commenced liquid staking business in the year ended December 31, 2022. For the year ended December 31, 2022, the Company generated revenues of $20,182 from liquid staking. Disaggregation of revenues Below table presents the disaggregation of Company’s revenues by revenue streams. For the Years Ended December 31, 2022 2021 2020 Digital asset mining $ 32,270,689 $ 96,078,570 $ 21,065,113 ETH native staking 5,722 - - ETH liquid staking 20,182 - - $ 32,296,593 $ 96,078,570 $ 21,065,113 Cost of revenue The Company’s cost of revenue consists primarily of i) direct production costs related to mining operations, including electricity costs, profit-sharing fees/variable performance fees and/or other relevant costs paid to our hosting facilities, but excluding depreciation and amortization, which are separately stated in the Company’s consolidated statements of operations, and ii) direct cost related to ETH staking business, including service fees payable to the service provider, which was immaterial during the year ended December 31, 2022. Income taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable. ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition. Loss per share Basic loss per share is computed by dividing net 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 shares equivalents in the weighted average shares outstanding, as they would be anti-dilutive. Comprehensive loss Comprehensive loss consists of two components, net loss and other comprehensive income. For the years ended December 31, 2020, the foreign currency translation gain or loss resulting from translation of the financial statements expressed in RMB to US$ is reported in other comprehensive income (loss) in the consolidated statements of operations and other comprehensive loss. For the years ended December 31, 2022 and 2021, the Company had no other comprehensive income. Commitments and contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed. Share-based compensation Share-based awards granted are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the straight-line attribution method, net of estimated forfeitures, over the requisite service period. The fair values of restricted stock units (“RSUs”) and restricted shares are determined with reference to the fair value of the underlying shares and the fair value of share options is generally determined using the Black-Scholes valuation model. The value is recognized as an expense over the respective service period, net of estimated forfeitures. Share-based compensation expense, when recognized, is charged to the consolidated income statements with the corresponding entry to additional paid-in capital, liability or noncontrolling interests. On each measurement date, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including the fair value of the underlying shares, expected life and expected volatility. The Company recognizes the impact of any revisions to the original forfeiture rate assumptions in the consolidated income statements, with a corresponding adjustment to equity. In April 2019, the Company adopted ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Treasury stock The Company accounts for treasury stocks using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury stocks account on the consolidated balance sheets. The Company treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as ordinary share repurchases because they reduce the number of shares that would have been issued upon vesting. Reclassification Certain items in the financial statements of comparative period have been reclassified to conform to the financial statements for the current period. The reclassification has no impact on the total assets and total liabilities as of December 31, 2022 or on the statements of operations for the year ended December 31, 2022. Recent accounting pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) In 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

USDC

USDC	12 Months Ended
	Dec. 31, 2022
USDC [Abstract]
USDC	4. USDC December 31, December 31, USDC $ 626,441 $ 15,829,464 The following table presents additional information about USDC for the years ended December 31, 2022, 2021 and 2020, respectively: For the Years Ended 2022 2021 2020 Opening balance $ 15,829,464 $ 56,005 $ - Collection of USDC from exchange of cash and other digital assets 1,998,002 18,201,257 - Collection of USDC from private placement - 1,179,368 - Receipt of USDC from sales of property and equipment 712,800 - - Collection of deposits of miner sales and other fees 230,000 - - Refund of deposit on property and equipment - 234,371 - Collection from borrowings from a related party - - 329,722 Sales of USDC in exchange of cash (13,450,000 ) - - Payment of USDC for transportation expenses (2,426,065 ) - - Payment of USDC for other expenses (2,267,760 ) (1,615,922 ) (273,717 ) Investment in an investment security - (1,000,000 ) - Purchases of miners - (895,893 ) - Repayment of borrowings from a related party (Note 15) - (329,722 ) - Ending balance $ 626,441 $ 15,829,464 $ 56,005

Digital Assets

Digital Assets	12 Months Ended
	Dec. 31, 2022
Digital Assets [Abstract]
DIGITAL ASSETS	5. DIGITAL ASSETS Digital asset holdings were comprised of the following: December 31, December 31, (Restated) BTC $ 15,796,147 $ 28,846,587 ETH* $ 11,791,181 $ 193,174 $ 27,587,328 $ 29,039,761 * The ETH ending balance as of December 31, 2022 includes 16.3 rETH-H earned from the liquid staking activity described below. For the year ended December 31, 2022, the Company recognized impairment loss of $24,654,267 on digital assets, consisting of $21,143,096 on BTC and $3,511,171 on ETH, respectively. For the year ended December 31, 2021, the Company recognized impairment of $27,993,571, consisting of $27,869,847 on bitcoins and $123,724 on ETH, respectively. For the year ended December 31, 2020, the Company recognized impairment of $997,954 on bitcoins. For the year ended December 31, 2022 and 2021, the Company has native staked 160 ETH and 96 ETH, respectively, on the Ethereum blockchain. The Company was not able to withdraw the stake until the Shanghai upgrade occurred on April 12, 2023. In addition, the Company staked 2,004 ETH in a liquid staking protocol with an unaffiliated third party and received receipt tokens which could be redeemed for ETH from the liquid staking provider or exchanged for cash via OTC. For the years ended December 31, 2022, the Company earned 19.9 ETH from such staking activities and recognized the ETH staking rewards as revenues. Additional information about digital assets The following table presents additional information about BTC for the years ended December 31, 2022, 2021 and 2020, respectively: For the Years Ended December 31, 2022 2021 2020 (Restated) (Restated) Opening balance $ 28,846,587 $ 5,868,950 $ - Receipt of BTC from mining services 31,414,102 96,078,586 21,065,113 Sales of BTC in exchange of cash (9,837,211 ) (16,973,380 ) (2,138,159 ) Sales of BTC in exchange of ETH (12,160,450 ) - - Payment of BTC for service charges from mining facilities (1,199,380 ) (14,443,484 ) (11,049,584 ) Payment of BTC as deposits for miners - (3,527,671 ) - Payment of BTC as deposits in hosting facilities (9,292,646 ) (900,563 ) Payment of BTC for other expenses (124,405 ) (1,053,221 ) (18,380 ) Collection of BTC from a third party - 59,300 (91,523 ) Impairment of BTC (21,143,096 ) (27,869,847 ) (997,954 ) Ending balance $ 15,796,147 $ 28,846,587 $ 5,868,950 The following table presents additional information about ETH for the years ended December 31, 2022, 2021 and 2020, respectively. For the Years Ended December 31, 2022 2021 2020 (Restated) Opening balance $ 193,174 $ - $ - Receipt of ETH from exchange of BTC 14,368,964 - - Receipt of ETH from mining services 856,604 - - Receipt of ETH from native staking business 5,722 - - Receipt of ETH from liquid staking business* 20,182 - - Other income in the form of ETH 23,834 27,326 - Purchases of ETH - 289,668 - Payment of ETH for service charges from mining facilities (173,473 ) - - Collection (payment) of ETH for other income (expenses) 7,345 (96 ) - Impairment of ETH (3,511,171 ) (123,724 ) - Ending balance $ 11,791,181 $ 193,174 $ - * It represents 16.3 rETH-H earned from the liquid staking activity in 2022.

Other Current Assets

Other Current Assets	12 Months Ended
	Dec. 31, 2022
Other Current Assets [Abstract]
OTHER CURRENT ASSETS	6. OTHER CURRENT ASSETS Other current assets were comprised of the following: December 31, December 31, Deposits (a) $ 400,000 $ 2,981,684 Prepaid marketing expenses 307,004 - Prepaid director and officer insurance expenses 365,350 - Prepaid consulting service expenses - - Office rental deposit 36,343 41,793 Others 325,302 27,139 $ 1,433,999 $ 3,050,616 (a) As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to one and two service providers, respectively, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due within 12 months from the effective date of the agreement.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	7. PROPERTY AND EQUIPMENT, NET Property and equipment, net was comprised of the following: December 31, December 31, Miners for Bitcoin $ 32,006,128 $ 33,268,859 Miners for ETH 211,142 5,829,019 Less: Accumulated depreciation (9,067,879 ) (6,608,720 ) Property and equipment, net $ 22,609,391 $ 32,489,158 For the years ended December 31, 2022, 2021 and 2020, depreciation expenses were $27,829,730, $13,113,964 and $3,342,655, respectively. During the year ended December 31, 2022, adverse changes in business climate, including decreases in the price of BTC and ETH and resulting decrease in the market price of miners, indicated that an impairment triggering event had occurred. Testing performed indicated the estimated fair value of the Company’s miners to be less than their net carrying value as of December 31, 2022, and an impairment charge of $46,369,095 and $3,669,555 was recognized for the BTC miners and ETH miners, respectively, decreasing the net carrying value of the Company’s miners to their estimated fair value. The estimated fair value of the Company’s miners is classified in Level 2 of the fair value hierarchy due to the quoted market prices for similar assets. Sales and writing off of miners in the year of 2022 For the year ended December 31, 2022, the Company sold 1,115 bitcoin miners for a total consideration of $1,816,870. On the dates of the transaction, the total original cost and accumulated depreciation of these miners were $571,681 and $276,610 , respectively. The Company recognized a gain of $1,521,799 from the sale of miners which was recorded in the account of “net gain from disposal of property and equipment”. As of the date of this report, the Company has collected the cash consideration of $1,056,775, netting off the related miner testing costs, and consideration of 712,800 USDC. For the year ended December 31, 2022, the Company wrote off 917 BTC miners and 1 ETH miner during the year, and the Company recorded a loss of $168,500 resulting from the writing off in the account of “net gain from disposal of property and equipment”. Sales and disposal of miners in the year of 2021 For the year ended December 31, 2021, the Company sold 15,808 miners to three third party customers for a total consideration of $9,441,561. On the date of the transaction, the original cost and accumulated depreciation of these 15,808 miners was $11,044,804 and $2,213,763, respectively. The Company recognized a gain on sales of $610,520 which was recorded as a reduction against “loss from disposal of property and equipment”. As of the date of this report, the Company has collected the consideration in the form of USDT. During the year ended December 31, 2021, the Company disposed of 1,779 miners. On the date of disposal, the original cost and accumulated depreciation of these 1,779 miners was $5,307,790 and $951,024, respectively. The Company incurred a loss of $4,356,767, which was recorded in the account of “loss from disposal of property and equipment”.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2022
Investment Securities [Abstract]
INVESTMENT SECURITIES	8. INVESTMENT SECURITIES Investment securities were comprised of the following: December 31, December 31, Investment in Digital Future Alliance Limited (“DFA”) (a) $ 94,534 $ 1,000,000 Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”) (b) 1,693,388 - Total $ 1,787,922 $ 1,000,000 (a) Investment in DFA During the year ended December 31, 2021, the Company made an investment of $1,000,000, in the form of USDC, in DFA which is a privately held company, over which the Company neither has control nor significant influence through investment in ordinary shares. During the years ended December 31, 2022, the Company sold two-thirds (2/3) of the investment for consideration of $1,706,665. The Company recognized a gain of $1,039,999 from the sale of investment security which was recorded in the account of “gain from sale of investment security”. As of the date of this report, the Company has received the full payment. In December 2022, DFA raised proceeds through equity financing with third party investors. This orderly transaction provided observable price changes, and the Company The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of the equity security. As of December 31, 2022 and 2021, the Company did not recognize impairment against the investment security. (b) Investment in Nine Blocks On August 1, 2022, the Company entered into a subscription agreement with Nine Blocks for investment of $2.0 million. The investment includes a direct investment into the Nine Blocks Master Fund, a digital assets market neutral fund using basis trading, relative value, and special situations strategies. As a practical expedient, the Company uses Net Asset Value (“NAV”) or its equivalent to measure the fair value of the investment in the fund.

Other Non-Current Assets

Other Non-Current Assets	12 Months Ended
	Dec. 31, 2022
Other Non-Current Assets [Abstract]
OTHER NON-CURRENT ASSETS	9. OTHER NON-CURRENT ASSETS Other noncurrent assets were comprised of the following: December 31, December 31, Deposits (a) $ 8,965,160 $ 6,714,571 Others 68,040 - Total $ 9,033,200 $ 6,714,571 (a) As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due 12 months from the effective date of the agreement.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Compensation [Abstract]
SHARE-BASED COMPENSATION	10. SHARE-BASED COMPENSATION Share-based compensation such as RSUs, incentive and non-statutory stock options, restricted shares, share appreciation rights and share payments may be granted to any directors, employees and consultants of the Company or affiliated companies under 2021 Omnibus Equity Incentive Plan (“2021 Plan”) and 2021 Second Omnibus Equity Incentive Plan (“2021 Second Plan”). An aggregate of 2,415,293 RSUs were granted under the 2021 Plan and no ordinary shares remain reserved for issuance under the 2021 Plan. There are 5,000,000 ordinary shares reserved for issuance under the Company’s 2021 Second Plan, under which 65,000 RSUs and 355,000 share options have been granted to employees and a consultant as of December 31, 2022. Restricted Stock Units (“RSUs”) Pursuant to a Consulting Services Agreement dated February 1, 2021, with Wellington Park, Inc., the Company granted 15,000 RSUs to each of its CEO, Bryan Bullett and the CSO, Sam Tabar, then consultants. All of these RSUs were subject to a 24-month service vesting schedule, and vested 1/24 for each month. Pursuant to Employment Agreements dated March 31, 2021, the Company granted 120,768 RSUs to Bryan Bullett, the Chief Executive Officer and Sam Tabar, the Chief Strategy Officer, respectively, as part of the compensation for their services. All of these RSUs were subject to a 24-month service vesting schedule, and vested 1/24 for each month. On July 29, 2021, the Company granted 1,954,400 RSUs to senior management and consultants for past services, 1,920,000 of which were immediately vested, and the remainder of which are vested per their vesting schedules. F-22 On October 13, 2021, the Company granted 18,400 RSUs to two consultants, and the RSUs were subject to 6-month and 2-month vesting schedules, respectively. On October 29, 2021, the Company granted 10,000 and 140,963 RSUs to an independent director and an employee for their past services. All of these RSUs were vested immediately. On October 30, 2021, the Company granted 20,000 RSUs to an independent director in connection with the Director Agreement executed on October 18, 2021. These RSUs were vested immediately. On December 30, 2021, the Company granted 11,000 RSUs to two employees as annual bonus. These RSUs were vested on January 3, 2022. On April 1, 2022, the Company granted 24,000 RSUs to one consultant and the RSU grant was subject to six-month vesting schedule. On October 28, 2022, the Company granted 30,000 RSUs to an independent director. These RSUs were vested immediately. As of December 31, 2022, the Company had 11,308 awarded and unvested RSUs. A summary of the changes in the RSUs relating to ordinary shares granted by the Company during the year ended December 31, 2022 and 2021 is as follows: Number of RSUs Weighted Awarded and unvested as of January 1, 2021 - $ - Granted 2,426,293 $ 9.18 Vested (2,247,617 ) $ 8.82 Awarded and unvested as of December 31, 2021 178,676 $ 13.67 Granted 54,000 $ 2.26 Vested (221,368 ) $ 12.43 Awarded and unvested as of December 31, 2022 11,308 $ 15.02 Expected to vest as of December 31, 2022 11,308 $ 15.02 As of December 31, 2022, there were $4,873 of unrecognized compensation costs related to all outstanding RSUs. These amounts are expected to be recognized over a weighted average period of 0.12 years. For the year ended December 31, 2022 and 2021, the Company recognized share-based compensation expense of $1,935,948 and $20,461,318 in connection with the above RSU awards. Share options On March 16, 2022, the Company granted 225,000 share options to three employees under 2021 Second Plan. All of these share options are subject to a 24-month service vesting schedule, and vest 1/24 for each month at an exercise price of $3.17 which was determined by reference to the closing price on the grant date. On April 1, 2022, the Company granted 100,000 share options to one consultant under 2021 Second Plan. All of these share options are subject to a 3-year vesting schedule, and vest 1/12 for each quarter at an exercise price of $3.60. On July 1, 2022, the Company granted 25,000 share options to one employee under 2021 Second Plan. All of these share options are subject to a 2-year service vesting schedule, and vest 1/8 for each quarter at an exercise price of $1.36 which was determined by reference to the closing price on the grant date. On July 1, 2022, the Company granted 5,000 share options to one employee under 2021 Second Plan. All of these share options are subject to a 24-month service vesting schedule, and vest 1/24 for each month at an exercise price of $1.36 which was determined by reference to the closing price on the grant date. The Company recognizes compensation expenses related to those option on a straight-line basis over the vesting periods. For the year ended December 31, 2022, the Company recognized share-based compensation expenses of $326,743. As of December 31, 2022, there were $595,812 of unrecognized compensation costs related to all outstanding share options. The following table summarized the share option activities for the years ended December 31, 2022: Number of Weighted Weighted Options outstanding on December 31, 2021 — — — Granted 355,000 $ 2.67 2.28 Forfeited (21,875 ) $ 1.13 — Expired — — — Exercised — — — Options outstanding on December 31, 2022 333,125 $ 2.77 1.51 Vested and exercisable on December 31, 2022 113,750 2.72 1.44 Vested and expected to vest on December 31, 2022 333,125 $ 2.77 1.51 Other share-based compensation In April 2022, the Company issued 245,098 ordinary shares to a service provider for marketing service. The marketing service would be provided for a period of 12 months. The Company recognized share-based compensation expenses aggregating $1,000,000, at per share price by reference to the closing price on issuance dates. In May 2021 and July 2021, the Company issued an 80,232 and 100,000 ordinary shares as payment to two service providers for marketing and promotion services and financial consulting services, respectively. The Company recognized share-based compensation expenses aggregating $1,446,098, at per share price by reference to the closing price on issuance dates.

Share Capital

Share Capital	12 Months Ended
	Dec. 31, 2022
Share Capital [Abstract]
SHARE CAPITAL	11. SHARE CAPITAL Ordinary shares On September 29, 2021, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain purchasers signatory thereto (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a private offering (the “Private Placement”), an aggregate of $80,000,017 of securities, consisting of 13,490,728 ordinary shares of the Company, par value $.01 per share and warrants to purchase an aggregate of 10,118,046 ordinary shares at an exercise price of $7.91 per whole share (“Warrant”), at a combined purchase price of $5.93 per share and accompanying warrant (collectively, the “Securities”). Each Warrant is exercisable immediately and will expire three and one-half years after the effective date of a resale registration statement (the “Registration Statement”) to be filed. On October 4, 2021, the Company closed the Private Placement. Pursuant to the Registration Rights Agreement, the Company is subject to liquidated damages if the Registration Statement registering shares for resale is not declared effective by the SEC per the mutually agreed timeline. The monthly payment is calculated at 2% of gross proceeds, or $1,600,000. On January 25, 2022, the Registration Statement was declared effective. Pursuant to ASC 450-20, a liability for the contingent obligation under the registration rights agreement was recognized at inception since it is probable that a payment under the registration rights agreement would be required and the amount of payment can be reasonably estimated. The contingent liability under the registration payment arrangement should be included in the allocation of proceeds from the related financing transaction. The remaining proceeds should then be allocated to the financial instruments issued based on the provisions of other US GAAP. Accordingly, a portion of the proceeds was allocated to the contingent liquidated payment under the registration payment arrangements and the remaining proceeds were allocated to the private placement. For the years ended December 31, 2022 and 2021, the Company accrued liquidated damages of $619,355 and $4,800,000 with corresponding accounts in “other payables and accrued liabilities”. For the year ended December 31, 2022 and 2021, the Company paid liquidated damages of $2,219,355 and $3,200,000, respectively. As of December 31, 2022 and 2021, the Company had outstanding accrued liquidated damages of $ nil As of December 31, 2021, there were 69,591,389 ordinary shares issued and outstanding. During the year ended December 31, 2022, 161,768 ordinary shares were issued to the Company’s officers, employees and consultants in settlement of an equal number of fully vested restricted stock units awarded to such individuals by the Company pursuant to grants made under the Company’s 2021 Plan. In addition, the Company also withheld 14,472 shares of its ordinary shares that were surrendered to the Company for withholding taxes related to restricted stock units granted to certain management. During the year ended December 31, 2022, 24,000 ordinary shares were issued to a consultant in settlement of an equal number of fully vested restricted stock units awarded to such individuals by the Company pursuant to grants made under the Company’s 2021 Second Plan. In April 2022, the Company issued 245,098 ordinary shares to a market service provider, at fair value of $1.0 million. The marketing service would be provided for a period of 12 months from issuance of shares. In April 2022, the Company issued 1,487,473 ordinary shares, at fair value of $5.6 million, to purchase certain bitcoin miners. During April 4 through May 12, 2022, the Company issued an aggregate of 10,990,327 ordinary shares to Ionic Ventures LLC for gross proceeds of $22.0 million. The Company received net proceeds of $21.0 million after deducting commissions payable to broker-dealers. As of December 31, 2022, there were 82,485,583 ordinary shares issued and outstanding. Preferred shares As of December 31, 2022 and 2021, there were 1,000,000 preferred shares issued and outstanding. The preference shares are entitled to the following preference features: 1) an annual dividend of 8% when and if declared by the Board of Directors; 2) a liquidation preference of $10.00 per share; 3) convert on a one for one basis for ordinary shares, subject to a 4.99% conversion limitation; 4) rank senior to ordinary shares in insolvency; and 5) solely for voting purposes vote 50 ordinary shares, for each preference share. Treasury stock The Company treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as ordinary share repurchases because they reduce the number of shares that would have been issued upon vesting. For the year ended December 31, 2022, the Company withheld 14,472 shares of its ordinary shares that were surrendered to the Company for withholding taxes related to restricted stock vesting valued at $76,820, based on fair value of the withheld shares on the vesting date. As of December 31, 2022 and 2021, the Company had treasury stock of $1,171,679 and $1,094,859, respectively. Warrants As of December 31, 2022 and 2021, the Company had outstanding 10,118,046 private placement warrants to purchase an aggregate of 10,118,046 ordinary shares at an exercise price of $7.91 per whole share. In accordance with ASC 815, the Company determined that the warrants meet the conditions necessary to be classified as equity because the consideration is indexed to the Company’s own equity, there are no exercise contingencies based on an observable market not based on its stock or operations, settlement is consistent with a fixed-for-fixed equity instrument, the agreement contains an explicit number of shares and there are no cash payment provisions. The fair value of the warrants was estimated at $33.3 million using the Black-Scholes model. Inherent in these valuations are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its ordinary shares based on historical and implied volatilities of selected peer companies as well as its own that match the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates it to remain at zero. The following table provides quantitative information regarding Level 3 fair value measurements inputs for the Company’s warrants at their measurement dates: As of Volatility 192.85 % Stock price 7.59 Expected life of the warrants to convert 3.81 Risk free rate 0.97 % Dividend yield 0.0 %

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
INCOME TAXES	12. INCOME TAXES Cayman Islands Under the current and applicable laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed. Hong Kong After all bitcoin miners were migrated to North America, BT HK operates under a cost-plus model for its general and administration services which is currently reimbursed by Bit Digital USA Inc. starting in fiscal year 2022. The Company is currently engaging a third-party service provider to perform a benchmark study for transfer pricing purposes. Currently the mark-up percentage for the general and administration services provided by BT HK is estimated to be 4.84% and the Company will update the percentage, if necessary, once the benchmark study is finalized. The Company does not expect any material impact as a result of change on the mark-up. Our subsidiaries in Hong Kong are taxed at a reduced rate of 8.25% for assessable profits not exceeding 2 million HKD and the remaining assessable profits will be taxed at the standard tax rate of 16.5% under Hong Kong profits tax. According to ASC Topic 740, Income Taxes, (“ASC 740”), the uncertainty in income taxes shall be recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. Based on the Company’s evaluation, the Company believes that its income tax positions are more-likely-than-not to be sustained upon audit. For the year ended December 31, 2022, BT HK generated a taxable income of $192,940 and recorded a current income tax expense of $15,918. For the year ended December 31, 2021, BT HK record $ nil By virtue of the territorial source system adopted in Hong Kong, BT HK is in the process of applying for the Offshore Non-taxable Claim on its bitcoin mining income earned for the years ended December 31, 2021 and 2020 under Hong Kong profits tax with the Hong Kong Inland Revenue Department (“HKIRD”) on the ground that the said income is not arising in or derived from Hong Kong. Given the Offshore Non-taxable Claim is still subject to review and agreement by the HKIRD and there are uncertainties surrounding the claim as well as the Company’s stock-based compensation deduction tax position, the Hong Kong subsidiary recorded an unrecognized tax benefit of $276,728 and $2,767,276 as long-term income tax expenses for the year ended December 31, 2022 and 2021, respectively. The tax expense of $276,728 is recognized for the incremental penalty accrued on the existing unrecognized tax benefits for the years ended December 31, 2022. The tax expense of $2,767,276 is recognized for the uncertain tax position regarding the offshore claim for years ended December 31, 2021 and 2020. For the years ended December 31, 2022 and 2021, BT Strategies generated a pre-tax loss of $3,547,902 and $ nil United States of America For the U.S. jurisdiction, the Company is subject to federal and state income taxes on its business operations. The Company also evaluated the impact from the recent tax reforms in the United States, including the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and Inflation Reduction Act. No material impact on the Company is expected based on our analysis. We will continue to monitor the potential impact going forward. For the years ended December 31, 2022 and 2021, the Company is subject to U.S. federal income taxes and withholding taxes, state income taxes and franchise taxes. The Company will continue to monitor its exposure to different states and comply with state income taxes filing requirement as the Company continues to expand its business in the United States. The Company has not been under any tax examination in the United States since inception. For the years ended December 31, 2022 and 2021, the Company incurred income tax and withholding tax benefits (expenses) as below: For the Years Ended 2022 2021 2020 Federal income tax benefits (expenses) $ 642,118 $ (738,851 ) $ - State income tax benefits (expenses) 301,410 (408,295 ) - Total $ 943,528 $ (1,147,146 ) $ - Canada The Company is subject to both federal and provincial income taxes for its business operation in Canada for the years ended December 31, 2022 and 2021. For years ended December 31, 2022 and 2021, the Company incurred Canada federal and state income tax (expenses) benefits as below: For the Years Ended 2022 2021 2020 Federal income tax (expenses) benefits $ (37,879 ) $ 37,879 $ - State income tax (expenses) benefits (20,202 ) 20,202 - Total $ (58,081 ) $ 58,081 $ - Singapore The Company is subject to corporate income tax for its business operation in Singapore. The Company generated a pre-tax loss of $1,712,435 and $ nil Effective tax rate Below is a reconciliation of the statutory tax rate of US federal tax rate 21% to the effective tax rate for the consolidated group: For the Years Ended 2022 2021 2020 US Federal income tax rate $ 21.0 % $ 21.0 % $ 21.0 % Effect of foreign operations taxed at various rates (5.5 )% 6.0 % 0 % State income taxes, net of federal benefit 0.5 % 3.0 % 0 % Reserve on Hong Kong offshore and share-based compensation tax benefits (0.5 )% 11.5 % 0 % Excessive share-based compensation tax benefits 0 % (3.0 )% 0 % Non-deductible executives compensation 0 % 1.9 % 0 % Non-deductible impairment on digital assets (8.5 )% 3.7 % 0 % Withholding tax on intercompany interest payment (0.2 )% 0 % 0 % Non-taxable capital gain on investments 8.0 % 0 % 0 % Others 0.2 % 0.1 % 0 % Effect of change in valuation allowance (14.0 )% 0 % (21 )% Total $ 1.0 % $ 44.2 % $ - Deferred Tax Assets/Liabilities The consolidated Deferred tax assets (liabilities) as of December 31, 2022 and 2021 consist of the following: December 31, December 31, Deferred tax assets: Net operating losses carry forwards $ 8,357,549 $ 4,775,905 Share-based compensation 610,298 609,933 Capital loss carryforwards 3,812,024 - Deferred tax liabilities: Depreciation (3,855,914 ) (5,696,982 ) Net deferred tax assets/(liabilities): 8,923,957 (311,144 ) Less: valuation allowance (8,923,957 ) (93,147 ) Net deferred tax assets/(liabilities) after valuation allowance $ - $ (404,291 ) In accordance with ASC 740 – Accounting for Income Taxes, the Company has recognized deferred tax assets and liabilities on its balance sheet. These assets represent temporary differences between the carrying value of certain assets and liabilities for financial reporting purposes and their tax basis. However, the realization of these deferred tax assets is dependent upon the generation of future taxable income and the Company is required to evaluate the realizability of its deferred tax assets. In the year ended December 31, 2022, the Company evaluated all the relevant evidence, including both positive and negative evidence, when determining if a valuation allowance on its deferred tax assets is warranted. After careful consideration, the Company determines that it is more likely than not that a portion or all of the deferred tax assets will not be realized. The dominant negative evidence is the cumulative 3 years pre-tax losses, which outweigh any other positive evidence. As a result, the Company applied a full valuation allowance on its entire deferred tax assets. The Company will continue to evaluate the realizability of its deferred tax assets on an ongoing basis and will adjust the valuation allowance as necessary. Unrecognized Tax Benefits For unrecognized tax benefits, the Company’s policy is to recognize interest and penalties that would be assessed in relation to the settlement value of unrecognized tax benefits as a component of income tax expense. For the years ended December 31, 2022 and 2021, the Company recorded an unrecognized tax benefit of $276,728 and $2,767,275, respectively, related to its HK operations. The Company will continue to review its tax positions and provide for unrecognized tax benefits as they arise. A reconciliation of gross unrecognized tax benefits was as follows: For the Years Ended 2022 2021 2020 Unrecognized tax benefits at the beginning of the year $ 2,767,276 $ - $ - Increases for tax positions taken in current year $ - $ 2,767,276 $ - Increases for tax positions taken in prior years $ 276,728 $ - $ - Unrecognized tax benefits at the end of the year $ 3,044,004 $ 2,767,276 $ - Given the uncertainty around the timing of the resolution of our Hong Kong offshore status claim, we are unable to estimate the full range of possible adjustments to our unrecognized tax benefits within the next 12 months.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2022
Loss Per Share [Abstract]
LOSS PER SHARE	13. LOSS PER SHARE For the Years Ended 2022 2021 2020 (Restated) (Restated) Net loss $ (105,296,603 ) $ (1,009,952 ) $ (2,279,304 ) Weighted average number of ordinary share outstanding Basic 78,614,174 55,440,527 30,591,122 Diluted 78,614,174 55,440,527 30,591,122 Loss per share Basic $ (1.34 ) $ (0.02 ) $ (0.07 ) Diluted $ (1.34 ) $ (0.02 ) $ (0.07 ) Basic loss per share is computed by dividing net 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 shares equivalents in the weighted average shares outstanding, as they would be anti-dilutive. For the years ended December 31, 2022, 2021 and 2020, the unvested RSUs, warrants, options and convertible preferred shares were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Employee Benefit Plans [Abstract]
EMPLOYEE BENEFIT PLANS	14. EMPLOYEE BENEFIT PLANS Effective on April 1, 2022, the Company established a 401(k) defined contribution plan. The Company’s 401(k) Plan is a tax-qualified deferred compensation arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating U.S. employees may contribute a portion of their eligible earnings, subject to applicable U.S. Internal Revenue Service and plan limits. The Company matches 100% of each employee’s contributions up to a maximum of 4% of the employee’s eligible earnings.

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2022
Related Parties [Abstract]
RELATED PARTIES	15. RELATED PARTIES During the Company’s normal business operations in the years ended December 31, 2021, the Company fully repaid the borrowings of $329,722 due to Mr. Erke Huang, the Company’s Chief Financial Officer in the form of USDC, and repaid the balance of $7,000 to one shareholder. On May 26, 2021, the Company entered into a Share Exchange Agreement (the “SEA”) with Geney Development Limited (“Geney”), a corporation formed under the laws of the British Virgin Islands. Geney is owned seventy (70%) percent by Zhaohui Deng, Chairman of the Board of the Company, and thirty (30%) percent beneficially owned by Erke Huang, the Company’s Chief Financial Officer and a director of the Company. Under the SEA, Geney exchanged 1,000,000 ordinary shares for 1,000,000 Preference Shares. Each Preference Share provides for: (i) an eight (8%) percent annual dividend when and if declared by the Board; (ii) a liquidation preference of $10 per share (an aggregate of $10 million) senior to ordinary shares; (iii) converts on a one-for-one basis, subject to a 4.99% blocker; and (iv) fifty (50) votes per Preference Share in order for management to carry out its intended business plan. On March 21, 2022, the Company and an officer of the Company entered into a Confidential Settlement, General Release and Separation Agreement (the “Agreement”) with a former employee (the “Employee”). The Employee asserted various disputes, which the Company settled for a sum of $500,000. The parties entered into a non-disclosure agreement and agreed to mutual non-disparagement. The Board of Directors of the Company has retained counsel to review the matter. As of the date of this Report, the counsel has completed their review and investigation. The Company has updated our policies and procedures based on their recommendations. As of December 31, 2022 and 2021, the Company had no outstanding balances due from or due to related parties.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2022
Contingencies [Abstract]
CONTINGENCIES	16. CONTINGENCIES From time to time, the Company is a party to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. On January 20, 2021, a securities class action lawsuit was filed against the Company and its former Chief Executive Officer and Chief Financial Officer titled Anthony Pauwels v. Bit Digital, Inc., Min Hu and Erke Huang (Case No. 1:21-cv-00515) (U.S.D.C. S.D.N.Y.). A second class action lawsuit was filed, substantially identical on January 26, 2021, titled, Yang v. Bit Digital, Inc., Min Hu and Erke Huang (Case No. 1:21-cv- 00721). Several other related cases have since been filed seeking lead plaintiff status. The class action is on behalf of persons that purchased or acquired our ordinary shares between December 21, 2020 and January 11, 2021, a period of volatility in our Ordinary Shares, as well as volatility in the price of bitcoin. We believe the complaints are based solely upon a research article issued on January 11, 2021, which included false claims and to which the Company responded in a press release filed on Form 6-K on January 19, 2021. On April 21, 2021, the Court consolidated several related cases under the caption In re Bit Digital Securities Litigation. Joseph Franklin Monkam Nitcheu was appointed as lead plaintiff. We filed a motion to dismiss the lawsuits and vigorously defended the action. While that motion was pending, the Company agreed with the lead plaintiff selected in the case to settle the class action by paying $2,100,000. The Company recorded the liabilities of $2,100,000 in the account of “accrued litigation settlement costs”. The Company chose to do that to eliminate the burden, expense and uncertainties of further litigation. The Company continues to deny the allegations in the Amended Complaint and nothing in the settlement is evidence of any liability on the Company’s behalf. On March 7, 2023, a final judgement in this matter was entered approving the settlement and certifying the class for purposes of enforcing the settlement and payment was then made by the Company.

Disposition of Golden Bull USA

Disposition of Golden Bull USA	12 Months Ended
	Dec. 31, 2022
Disposition of Golden Bull USA [Abstract]
DISPOSITION OF GOLDEN BULL USA	17. DISPOSITION OF GOLDEN BULL USA On March 16, 2022, the Company into a share purchase agreement (the “Disposition SPA”) with Star Choice Investments Limited (“Star Choice”), an unrelated Hong Kong entity (the “Purchaser”). Pursuant to the Disposition SPA, the Purchaser purchased Golden Bull USA in exchange for nominal consideration of $10.00 and other good and valuable consideration. Golden Bull USA had been inactive since May 2020. The disposition was closed on the same date. On the same date, the parties completed all of the share transfer registration procedures as required by the laws of State of New York and all other closing conditions had been satisfied. As a result, the disposition contemplated by the Disposition SPA was completed. Upon completion of the disposition, the Purchaser became the sole shareholder of Golden Bull USA and assumed all assets and obligations of Golden Bull USA. Upon the closing of the transaction, the Company does not bear any contractual commitment or obligation to the business of Golden Bull USA, nor to the Purchaser. Golden Bull USA had been inactive since May 2020. It did not generate revenues or incur any operating expenses since then. On disposal date, Golden Bull USA had total assets of $72,196 and total liabilities of $124,569, with negative net assets of $52,373, the absolute value accounted for 0.03% of the unaudited consolidated net assets of the Company as of March 31, 2022. The Company recorded a gain of $52,383 from the termination in the account of “other income, net” in the consolidated statements of operations and comprehensive loss. Management believes that the disposition of Golden Bull USA does not represent a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. The disposition is not accounted as discontinued operations in accordance with ASC 205-20.

Disposition of Point Cattle

Disposition of Point Cattle	12 Months Ended
	Dec. 31, 2022
Disposition of Point Cattle [Abstract]
DISPOSITION OF POINT CATTLE	18. DISPOSITION OF POINT CATTLE On September 8, 2020, the Company entered into a certain share purchase agreement (the “Disposition SPA”) by and among a British Virgin Islands company, Sharp Whale Limited (the “Purchaser”), Point Cattle Holding Limited (“Point Cattle”, or the “Subsidiary”) and the Company (the “Seller”). Pursuant to the Disposition SPA, the Purchaser purchased the Subsidiary in exchange for nominal consideration of $10.00 and other good and valuable consideration. Point Cattle Holdings Limited was a former wholly owned subsidiary of the Company in the British Virgin Islands, and through its subsidiaries and variable interest entities (“VIEs”), Golden Bull Limited previously operated its peer-to-peer lending business and the car rental business in PRC. On September 8, 2020, the parties completed all of the share transfer registration procedures as required by the laws of British Virgin Islands and all other closing conditions had been satisfied. As a result, the disposition contemplated by the Disposition SPA was completed. Upon completion of the disposition, the Purchaser became the sole shareholder of Point Cattle and as a result, assumed all assets and obligations of all the subsidiaries and VIE entities owned or controlled by Point Cattle. Upon the closing of the transaction, the Company does not bear any contractual commitment or obligation to the peer-to-peer business or the employees of Point Cattle and its subsidiaries and VIEs, nor to the Purchaser. On the same date, management was authorized to approve and commit to a plan to sell Point Cattle, therefore the major assets and liabilities relevant to the disposal are reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes, are reported as components of net income (loss) separate from the net loss of continuing operations in accordance with ASC 205-20-45. Considering the suspension of the former peer-to-peer lending business and the car rental business in the PRC, the net assets relevant to the sale of Point Cattle was fully impaired by the Company in March 2020. In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including that management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. As the transaction was closed on September 8, 2020, the Company had no assets and liabilities held for sale in the in the consolidated balance sheet as of December 31, 2022 or December 31, 2021. The following is a reconciliation of the amounts of major classes of income from operations classified as discontinued operations in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2022, 2021 and 2020: For the Years Ended 2022 2021 2020 Discontinued Operations Turnover $ - $ - $ - Operating expenses - - - Other income, net - - - Income tax expenses - - - Impairment of net assets - - (3,734,498 ) Net gain from discontinued operations - - (100,185 ) Net loss from discontinued operations $ - $ - $ (3,834,683 )

Restatement of Previously Iss_2

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
RESTATEMENT OF PREVIOUSLY ISSUED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	19. RESTATEMENT OF PREVIOUSLY ISSUED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The following tables present the impacts of the restatement adjustments, as described in Note 2. Restatement of Previously Issued Financial Statements, Restated Condensed Consolidated Balance Sheets (Unaudited) March 31, 2022 (unaudited) March 31, 2021 (unaudited) As Adjustments As As Adjustments As ASSETS Current Assets Cash and cash equivalents 28,086,550 - 28,086,550 227,566 - 227,566 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins - 15,768,934 15,768,934 - 217,004 217,004 Digital assets 43,899,644 (16,164,693 ) 27,734,951 29,361,599 (2,876,997 ) 26,484,602 Income tax receivable - - - - - - Other current assets 4,968,525 - 4,968,525 4,908,935 - 4,908,935 Total Current Assets 78,274,719 (395,759 ) 77,878,960 34,498,100 (2,659,993 ) 31,838,107 Investment security 333,334 - 333,334 1,000,000 - 1,000,000 Deposits for property and equipment 54,147,381 - 54,147,381 14,400,272 - 14,400,272 Property and equipment, net 28,651,298 - 28,651,298 28,193,696 - 28,193,696 Deferred tax assets 849,944 - 849,944 - - - Other noncurrent assets 7,305,223 - 7,305,223 - - - Total Assets 169,561,899 (395,759 ) 169,166,140 78,092,068 (2,659,993 ) 75,432,075 LIABILITIES AND EQUITY Current Liabilities Accounts payable 3,537,633 - 3,537,633 1,396,773 - 1,396,773 Due to related parties - - - 7,000 - 7,000 Income tax payable 348,253 - 348,253 251,919 - 251,919 Convertible notes - - - 1,280,000 - 1,280,000 Other payables and accrued liabilities 988,537 - 988,537 160,886 - 160,886 Total Current Liabilities 4,874,423 - 4,874,423 3,096,578 - 3,096,578 Deferred tax liabilities - - - 30,223 - 30,223 Long-term income tax payable 2,836,458 - 2,836,458 - - - Total Liabilities 7,710,881 - 7,710,881 3,126,801 - 3,126,801 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 - - - Common shares 696,293 - 696,293 483,059 - 483,059 Treasury shares (1,171,679 ) - (1,171,679 ) - - - Additional paid-in capital 183,332,680 - 183,332,680 54,396,373 - 54,396,373 Accumulated deficit (30,056,276 ) (395,759 ) (30,452,035 ) 20,085,835 (2,659,993 ) 17,425,842 Total Shareholders’ Equity 161,851,018 (395,759 ) 161,455,259 74,965,267 (2,659,993 ) 72,305,274 Total Liabilities and Equity 169,561,899 (395,759 ) 169,166,140 78,092,068 (2,659,993 ) 75,432,075 June 30, 2022 (unaudited) June 30, 2021 (unaudited) As previously reported Adjustments As restated As previously reported Adjustments As restated ASSETS Current Assets Cash and cash equivalents 44,295,291 - 44,295,291 28,254,066 - 28,254,066 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins - 11,355,060 11,355,060 - 154,664 154,664 Digital assets 26,945,910 (11,389,504 ) 15,556,406 20,989,096 (3,336,525 ) 17,652,571 Income tax receivable 171,362 - 171,362 - - - Other current assets 5,695,638 - 5,695,638 10,366,860 - 10,366,860 Total Current Assets 78,428,201 (34,444 ) 78,393,757 59,610,022 (3,181,861 ) 56,428,161 Investment security 333,334 - 333,334 1,000,000 - 1,000,000 Deposits for property and equipment 4,094,881 - 4,094,881 11,495,450 - 11,495,450 Property and equipment, net 89,995,943 - 89,995,943 35,953,562 - 35,953,562 Other noncurrent assets 6,112,861 - 6,112,861 - - - Total Assets 178,965,220 (34,444 ) 178,930,776 108,059,034 (3,181,861 ) 104,877,173 LIABILITIES AND EQUITY Current Liabilities Accounts payable 1,944,502 - 1,944,502 2,455,694 - 2,455,694 Income tax payable - - - 211,365 - 211,365 Other payables and accrued liabilities 2,151,858 - 2,151,858 501,854 - 501,854 Total Current Liabilities 4,096,360 - 4,096,360 3,168,913 - 3,168,913 Deferred tax liabilities - - - 47,684 - 47,684 Long-term income tax payable 2,905,640 - 2,905,640 - - - Total Liabilities 7,002,000 - 7,002,000 3,216,597 - 3,216,597 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 - - - Common shares 824,057 - 824,057 539,063 - 539,063 Treasury shares (1,171,679 ) - (1,171,679 ) - - - Additional paid-in capital 211,441,850 - 211,441,850 85,556,939 - 85,556,939 Accumulated deficit (48,181,008 ) (34,444 ) (48,215,452 ) 18,746,435 (3,181,861 ) 15,564,574 Total Shareholders’ Equity 171,963,220 (34,444 ) 171,928,776 104,842,437 (3,181,861 ) 101,660,576 Total Liabilities and Equity 178,965,220 (34,444 ) 178,930,776 108,059,034 (3,181,861 ) 104,877,173 September 30, 2022 (unaudited) September 30, 2021 (unaudited) As Adjustments As restated As Adjustments As ASSETS Current Assets Cash and cash equivalents 32,266,078 - 32,266,078 26,461,096 - 26,461,096 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins 9,058,567 - 9,058,567 - 11,197,324 11,197,324 Digital assets 23,337,430 (208,518 ) 23,128,912 35,020,251 (14,738,663 ) 20,281,588 Income tax receivable 86,104 - 86,104 - - - Other current assets 2,316,803 - 2,316,803 3,144,300 - 3,144,300 Total Current Assets 68,384,982 (208,518 ) 68,176,464 64,625,647 (3,541,339 ) 61,084,308 Investment security 2,365,468 - 2,365,468 1,000,000 - 1,000,000 Deposits for property and equipment 4,094,881 - 4,094,881 7,930,061 - 7,930,061 Property and equipment, net 80,658,459 - 80,658,459 29,978,400 - 29,978,400 Other noncurrent assets 9,173,011 - 9,173,011 6,844,416 - 6,844,416 Total Assets 164,676,801 (208,518 ) 164,468,283 110,378,524 (3,541,339 ) 106,837,185 LIABILITIES AND EQUITY Current Liabilities Accounts payable 2,111,433 - 2,111,433 3,011,122 - 3,011,122 Income tax payable - - - 493,703 - 493,703 Other payables and accrued liabilities 1,348,825 - 1,348,825 154,629 - 154,629 Total Current Liabilities 3,460,258 - 3,460,258 3,659,454 - 3,659,454 Deferred tax liabilities - - - 703,924 - 703,924 Long-term income tax payable 2,974,822 - 2,974,822 - - - Total Liabilities 6,435,080 - 6,435,080 4,363,378 - 4,363,378 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 9,050,000 - 9,050,000 Common shares 824,371 - 824,371 558,174 - 558,174 Treasury shares (1,171,534 ) - (1,171,534 ) - - - Additional paid-in capital 212,058,000 - 212,058,000 106,849,371 - 106,849,371 Accumulated deficit (62,519,116 ) (208,518 ) (62,727,634 ) (10,442,399 ) (3,541,339 ) (13,983,738 ) Total Shareholders’ Equity 158,241,721 (208,518 ) 158,033,203 106,015,146 (3,541,339 ) 102,473,807 Total Liabilities and Equity 164,676,801 (208,518 ) 164,468,283 110,378,524 (3,541,339 ) 106,837,185 For the three months ended As previously reported Adjustments As restated Revenue from cryptocurrency mining 8,573,747 - 8,573,747 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (4,268,251 ) - (4,268,251 ) Depreciation and amortization expenses (3,799,629 ) - (3,799,629 ) General and administrative expenses (4,272,695 ) - (4,272,695 ) Realized gain on exchange of digital assets 1,637,023 427,257 2,064,280 Impairment of digital assets (10,045,603 ) 5,419,905 (4,625,698 ) Total operating expenses (20,749,155 ) 5,847,162 (14,901,993 ) Loss from Operations (12,175,408 ) 5,847,162 (6,328,246 ) Gain from disposal of property and equipment 174,568 - 174,568 Gain from sale of investment security 1,039,999 - 1,039,999 Other expenses (570,890 ) - (570,890 ) Net loss from continuing operations before income taxes (11,531,731 ) 5,847,162 (5,684,569 ) Income tax expenses 1,351,942 - 1,351,942 Net loss (10,179,789 ) 5,847,162 (4,332,627 ) Weighted average number of ordinary share outstanding Basic and Diluted 69,627,314 - 69,627,314 Loss per share Basic and Diluted (0.15 ) 0.09 (0.06 ) For the three months ended For the six months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 6,815,000 - 6,815,000 15,388,747 - 15,388,747 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (3,584,145 ) - (3,584,145 ) (7,852,396 ) - (7,852,396 ) Depreciation and amortization expenses (5,322,120 ) - (5,322,120 ) (9,121,749 ) - (9,121,749 ) General and administrative expenses (4,598,238 ) - (4,598,238 ) (8,870,933 ) - (8,870,933 ) Realized gain on exchange of digital assets 2,115,301 86,335 2,201,636 3,752,324 513,592 4,265,916 Impairment of digital assets (13,639,386 ) 274,980 (13,364,406 ) (23,684,989 ) 5,694,885 (17,990,104 ) Total operating expenses (25,028,588 ) 361,315 (24,667,273 ) (45,777,743 ) 6,208,477 (39,569,266 ) Loss from Operations (18,213,588 ) 361,315 (17,852,273 ) (30,388,996 ) 6,208,477 (24,180,519 ) Gain from disposal of property and equipment 1,280,328 - 1,280,328 1,454,896 - 1,454,896 Gain from sale of investment security - - - 1,039,999 - 1,039,999 Other expenses (20,179 ) - (20,179 ) (591,069 ) - (591,069 ) Net loss from continuing operations before income taxes (16,953,439 ) 361,315 (16,592,124 ) (28,485,170 ) 6,208,477 (22,276,693 ) Income tax expenses (1,171,293 ) - (1,171,293 ) 180,649 - 180,649 Net loss (18,124,732 ) 361,315 (17,763,417 ) (28,304,521 ) 6,208,477 (22,096,044 ) Weighted average number of ordinary share outstanding Basic and Diluted 49,737,336 - 49,737,336 74,695,686 - 74,695,686 Loss per share Basic and Diluted (0.36 ) - (0.36 ) (0.38 ) 0.08 (0.30 ) For the three months ended For the nine months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 9,130,961 - 9,130,961 24,519,708 - 24,519,708 Operating Costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (6,500,483 ) - (6,500,483 ) (14,352,879 ) - (14,352,879 ) Depreciation and amortization expenses (9,312,176 ) - (9,312,176 ) (18,433,925 ) - (18,433,925 ) General and administrative expenses (6,231,658 ) - (6,231,658 ) (15,102,591 ) - (15,102,591 ) Realized gain on exchange of digital assets 1,049,110 178,958 1,228,068 4,801,434 692,550 5,493,984 Impairment of digital assets (2,365,132 ) (353,032 ) (2,718,164 ) (26,050,121 ) 5,341,853 (20,708,268 ) Total operating expenses (23,360,339 ) (174,074 ) (23,534,413 ) (69,138,082 ) 6,034,403 (63,103,679 ) Loss from Operations (14,229,378 ) (174,074 ) (14,403,452 ) (44,618,374 ) 6,034,403 (38,583,971 ) Gain from disposal of property and equipment 60,701 - 60,701 1,515,597 - 1,515,597 Gain from sale of investment security - - - 1,039,999 - 1,039,999 Other expenses 26,098 - 26,098 (564,971 ) - (564,971 ) Net loss from continuing operations before income taxes (14,142,579 ) (174,074 ) (14,316,653 ) (42,627,749 ) 6,034,403 (36,593,346 ) Income tax expenses (195,529 ) - (195,529 ) (14,880 ) - (14,880 ) Net loss (14,338,108 ) (174,074 ) (14,512,182 ) (42,642,629 ) 6,034,403 (36,608,226 ) Weighted average number of ordinary share outstanding Basic and Diluted 54,675,621 - 54,675,621 77,296,373 - 77,296,373 Loss per share Basic and Diluted (0.26 ) (0.01 ) (0.27 ) (0.55 ) 0.08 (0.47 ) For the three months ended As Adjustments As restated Revenue from cryptocurrency mining 43,953,050 - 43,953,050 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (12,467,728 ) - (12,467,728 ) Depreciation and amortization expenses (3,650,374 ) - (3,650,374 ) General and administrative expenses (2,225,170 ) - (2,225,170 ) Realized gain on exchange of digital assets 10,456,497 2,838,187 13,294,684 Impairment of digital assets - (5,129,213 ) (5,129,213 ) Total operating expenses (7,886,775 ) (2,291,026 ) (10,177,801 ) Income from Operations 36,066,275 (2,291,026 ) 33,775,249 Other income, net 2,191 - 2,191 Net income from continuing operations before income taxes 36,068,466 (2,291,026 ) 33,777,440 Income tax expenses (282,142 ) - (282,142 ) Net income 35,786,324 (2,291,026 ) 33,495,298 Weighted average number of ordinary share outstanding Basic and Diluted 48,291,310 - 48,291,310 Earnings per share Basic and Diluted 0.74 (0.05 ) 0.69 For the three months ended For the six months ended As previously reported Adjustments As restated As previously reported Adjustments As restated Revenue from cryptocurrency mining 28,342,694 - 28,342,694 72,295,744 - 72,295,744 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (10,883,650 ) - (10,883,650 ) (23,351,378 ) - (23,351,378 ) Depreciation and amortization expenses (2,348,657 ) - (2,348,657 ) (5,999,031 ) - (5,999,031 ) General and administrative expenses (4,335,983 ) - (4,335,983 ) (6,561,153 ) - (6,561,153 ) Realized gain on exchange of digital assets (3,503,845 ) 8,649,435 5,145,590 6,952,652 11,487,622 18,440,274 Impairment of digital assets (9,045,007 ) (9,171,303 ) (18,216,310 ) (9,045,007 ) (14,300,516 ) (23,345,523 ) Total operating expenses (30,117,142 ) (521,868 ) (30,639,010 ) (38,003,917 ) (2,812,894 ) (40,816,811 ) (Loss) Income from Operations (1,774,448 ) (521,868 ) (2,296,316 ) 34,291,827 (2,812,894 ) 31,478,933 Gain from disposal of property and equipment 43,436 - 43,436 43,436 - 43,436 Other income, net 493,519 - 493,519 495,710 - 495,710 Net (loss) income from continuing operations before income taxes (1,237,493 ) (521,868 ) (1,759,361 ) 34,830,973 (2,812,894 ) 32,018,079 Income tax expenses (101,907 ) - (101,907 ) (384,049 ) - (384,049 ) Net (loss) income (1,339,400 ) (521,868 ) (1,861,268 ) 34,446,924 (2,812,894 ) 31,634,030 Weighted average number of ordinary share outstanding Basic and Diluted 49,737,336 - 49,737,336 49,018,317 - 49,018,317 (Loss) earnings per share Basic and Diluted (0.03 ) (0.01 ) (0.04 ) 0.70 (0.05 ) 0.65 For the three months ended For the nine months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 10,395,894 - 10,395,894 82,691,638 - 82,691,638 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (2,607,945 ) - (2,607,945 ) (25,959,323 ) - (25,959,323 ) Depreciation and amortization expenses (3,796,672 ) - (3,796,672 ) (9,795,703 ) - (9,795,703 ) General and administrative expenses (19,545,639 ) - (19,545,639 ) (26,106,792 ) - (26,106,792 ) Realized gain on exchange of digital assets 129,935 1,286,681 1,416,616 7,082,587 12,774,303 19,856,890 Impairment of digital assets - (1,646,159 ) (1,646,159 ) (9,045,007 ) (15,946,675 ) (24,991,682 ) Total operating expenses (25,820,321 ) (359,478 ) (26,179,799 ) (63,824,238 ) (3,172,372 ) (66,996,610 ) (Loss) Income from Operations (15,424,427 ) (359,478 ) (15,783,905 ) 18,867,400 (3,172,372 ) 15,695,028 Gain from disposal of property and equipment (3,789,683 ) - (3,789,683 ) (3,746,247 ) - (3,746,247 ) Other income, net 3,854 - 3,854 499,564 - 499,564 Net (loss) income from continuing operations before income taxes (19,210,256 ) (359,478 ) (19,569,734 ) 15,620,717 (3,172,372 ) 12,448,345 Income tax expenses (938,578 ) - (938,578 ) (1,322,627 ) - (1,322,627 ) Net (loss) income (20,148,834 ) (359,478 ) (20,508,312 ) 14,298,090 (3,172,372 ) 11,125,718 Weighted average number of ordinary share outstanding Basic and Diluted 54,675,621 - 54,675,621 50,921,037 - 50,921,037 (Loss) earnings per share Basic and Diluted (0.37 ) (0.01 ) (0.38 ) 0.28 (0.06 ) 0.22 Restated Condensed Consolidated Statements of Cash Flow (Unaudited) For the three months ended For the three months ended As Adjustments As restated As Adjustments As restated Cash Flows from Operating Activities: Net (loss) income (10,179,789 ) 5,847,162 (4,332,627 ) 35,786,324 (2,291,026 ) 33,495,298 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (10,179,789 ) 5,847,162 (4,332,627 ) 35,786,324 (2,291,026 ) 33,495,298 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 3,799,629 - 3,799,629 3,650,374 - 3,650,374 Gain from disposal of property and equipment (174,568 ) - (174,568 ) - - - Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 463,900 - 463,900 - - - Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining - (8,573,747 ) (8,573,747 ) - (43,953,050 ) (43,953,050 ) Realized gain on exchange of digital assets (1,637,023 ) (427,257 ) (2,064,280 ) - (13,294,684 ) (13,294,684 ) Impairment of digital assets 10,045,603 (5,419,905 ) 4,625,698 - 5,129,213 5,129,213 Deferred tax expenses (1,254,235 ) - (1,254,235 ) 30,223 - 30,223 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in operating assets and liabilities: Stable coins - 199,800 199,800 - - - Digital assets (8,573,730 ) 15,376,930 6,803,200 (53,646,868 ) 55,413,818 1,766,950 Other current assets (223,745 ) - (223,745 ) (1,336,681 ) - (1,336,681 ) Other noncurrent assets (590,652 ) - (590,652 ) - - - Accounts payable 1,420,280 - 1,420,280 12,757,378 - 12,757,378 Income tax payable (211,471 ) - (211,471 ) 251,919 - 251,919 Long-term income tax payable 69,182 - 69,182 - - - Other payables and accrued liabilities 856,218 17 856,235 (30,648 ) 762,679 732,031 Net Cash (Used in) Provided by Operating Activities (6,663,428 ) 7,003,000 339,572 (2,537,979 ) 1,766,950 (771,029 ) Cash Flows from Investing Activities: Purchases of property and equipment - - - (686,538 ) - (686,538 ) Deposits for property and equipment (11,052,500 ) - (11,052,500 ) - - - Proceeds from sales of cryptocurrencies 7,003,000 (7,003,000 ) - 1,766,950 (1,766,950 ) - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Net Cash Used in Investing Activities (4,109,195 ) (7,003,000 ) (11,112,195 ) 1,080,412 (1,766,950 ) (686,538 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Net Cash (Used in) Provided by Financing Activities (2,219,355 ) - (2,219,355 ) 1,280,000 - 1,280,000 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net decrease in cash, cash equivalents and restricted cash (12,991,978 ) - (12,991,978 ) (177,567 ) - (177,567 ) Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 29,406,550 - 29,406,550 227,566 - 227,566 For the six months ended For the six months ended As Adjustments As As Adjustments As Cash Flows from Operating Activities: Net (loss) income (28,304,521 ) 6,208,477 (22,096,044 ) 34,446,924 (2,812,894 ) 31,634,030 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (28,304,521 ) 6,208,477 (22,096,044 ) 34,446,924 (2,812,894 ) 31,634,030 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 9,121,749 - 9,121,749 5,999,031 - 5,999,031 Gain from disposal of property and equipment (1,454,896 ) - (1,454,896 ) (43,436 ) - (43,436 ) Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 1,057,313 - 1,057,313 509,794 - 509,794 Share based compensation expenses in connection with issuance of ordinary shares - - - 933,098 - 933,098 Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining - (15,388,747 ) (15,388,747 ) - (72,295,744 ) (72,295,744 ) Realized gain on exchange of digital assets (3,752,324 ) (513,592 ) (4,265,916 ) - (18,440,274 ) (18,440,274 ) Impairment of digital assets 23,684,989 (5,694,885 ) 17,990,104 9,045,007 14,300,516 23,345,523 Deferred tax expenses (404,291 ) - (404,291 ) 47,684 - 47,684 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in fair value of investment security - - - - - - Changes in operating assets and liabilities: Stable coins - 3,501,802 3,501,802 - - - Digital assets (15,388,743 ) 29,141,443 13,752,700 (78,531,704 ) 82,071,154 3,539,450 Other current assets (740,858 ) - (740,858 ) (1,750,324 ) - (1,750,324 ) Other noncurrent assets 601,710 - 601,710 - - - Accounts payable 697,185 - 697,185 22,985,200 - 22,985,200 Income tax payable (731,092 ) - (731,092 ) 211,365 - 211,365 Long-term income tax payable 138,364 - 138,364 - - - Other payables and accrued liabilities 682,095 - 682,095 1,325,382 716,692 2,042,074 Net Cash (Used in) Provided by Operating Activities (15,266,347 ) 17,254,498 1,988,151 (4,821,979 ) 3,539,450 (1,282,529 ) Cash Flows from Investing Activities: Purchases of property and equipment (19,310,398 ) - (19,310,398 ) (686,538 ) - (686,538 ) Deposits for property and equipment - - - - - - Proceeds from sales of property and equipment 958,060 - 958,060 - - - Proceeds from sales of cryptocurrencies 19,252,500 (19,252,500 ) - 3,539,450 (3,539,450 ) - Purchases of digital assets (1,998,002 ) 1,998,002 - - - - Proceeds from disposal of long-term investment 850,000 - 850,000 - - - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Investment in an equity security - - - - - - Net Cash (Used in) Provided by Investing Activities (307,535 ) (17,254,498 ) (17,562,033 ) 2,852,912 (3,539,450 ) (686,538 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of ordinary shares under private placements, net of issuance costs 21,010,000 - 21,010,000 - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Proceeds from issuance of ordinary shares under direct offering - - - 28,550,000 - 28,550,000 Repayment of borrowings to related parties - - - (12,000 ) - (12,000 ) Net Cash Provided by Financing Activities 18,790,645 - 18,790,645 29,818,000 - 29,818,000 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net increase in cash, cash equivalents and restricted cash 3,216,763 - 3,216,763 27,848,933 - 27,848,933 Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 45,615,291 - 45,615,291 28,254,066 - 28,254,066 For the nine months ended For the nine months ended As Adjustments As restated As Adjustments As restated Cash Flows from Operating Activities: Net (loss) income (42,642,629 ) 6,034,403 (36,608,226 ) 14,298,090 (3,172,372 ) 11,125,718 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (42,642,629 ) 6,034,403 (36,608,226 ) 14,298,090 (3,172,372 ) 11,125,718 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 18,433,925 - 18,433,925 9,795,703 - 9,795,703 Gain from disposal of property and equipment (1,515,597 ) - (1,515,597 ) 3,746,247 - 3,746,247 Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 1,673,948 - 1,673,948 16,576,615 - 16,576,615 Share based compensation expenses in connection with issuance of ordinary shares - - - 1,446,098 - 1,446,098 Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining (24,543,543 ) - (24,543,543 ) - (82,691,638 ) (82,691,638 ) Realized gain on exchange of digital assets (4,801,434 ) (692,550 ) (5,493,984 ) - (19,856,890 ) (19,856,890 ) Impairment of digital assets 26,050,121 (5,341,853 ) 20,708,268 9,045,007 15,946,675 24,991,682 Deferred tax expenses (404,294 ) - (404,294 ) 703,924 - 703,924 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in fair value of investment security (32,134 ) - (32,134 ) - - - Changes in operating assets and liabilities: Stable coins - 3,496,298 3,496,298 - (200,000 ) (200,000 ) Digital assets 19,252,500 (5,494,300 ) 13,758,200 (89,079,726 ) 92,619,176 3,539,450 Other current assets 1,719,544 - 1,719,544 (117,048 ) - (117,048 ) Other noncurrent assets (2,458,440 ) - (2,458,440 ) (6,844,416 ) - (6,844,416 ) Accounts payable 947,055 - 947,055 25,680,947 - 25,680,947 Income tax payable (645,828 ) - (645,828 ) 493,703 - 493,703 Long-term income tax payable 207,546 - 207,546 - - - Other payables and accrued liabilities 2,184,774 - 2,184,774 3,062,969 894,499 3,957,468 Net Cash Used in Operating Activities (7,047,513 ) (1,998,002 ) (9,045,515 ) (11,191,887 ) 3,539,450 (7,652,437 ) Cash Flows from Investing Activities: Purchases of property and equipment (19,285,625 ) - (19,285,625 ) (795,000 ) - (795,000 ) Deposits for property and equipment - - - - - - Proceeds from sales of property and equipment 1,081,075 - 1,081,075 - - - Proceeds from sales of cryptocurrencies - - - 3,539,450 (3,539,450 ) - Purchases of digital assets (1,998,002 ) 1,998,002 - - - - Proceeds from disposal of long-term investment 1,706,665 - 1,706,665 - - - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Investment in an equity security (2,000,000 ) - (2,000,000 ) - - - Net Cash Used in Investing Activities (20,555,582 ) 1,998,002 (18,557,580 ) 2,744,450 (3,539,450 ) (795,000 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of ordinary shares under private placements, net of issuance costs 21,010,000 - 21,010,000 - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Proceeds from issuance of ordinary shares under direct offering - - - 33,235,400 - 33,235,400 Repayment of borrowings to related parties - - - (12,000 ) - (12,000 ) Net Cash Provided by Financing Activities 18,790,645 - 18,790,645 34,503,400 - 34,503,400 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net (decrease) increase in cash, cash equivalents and restricted cash (8,812,450 ) - (8,812,450 ) 26,055,963 - 26,055,963 Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 33,586,078 - 33,586,078 26,461,096 - 26,461,096

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	20. SUBSEQUENT EVENTS Marsprotocol Technologies Pte. Ltd. (the “JV Company”) On March 3, 2023, in connection with a newly formed joint venture, Bit Digital Singapore Pte. Ltd. and Saving Digital Pte. Ltd. (“SDP”), a wholly owned subsidiary of Mega Matrix Corp., entered into a shareholders’ agreement (the “Shareholders Agreement”) with Marsprotocol Technologies Pte. Ltd., to provide proof-of-stake technology tools for digital assets through the staking platform “MarsProtocol”, an institutional grade non-custodial staking technology (the “Joint Venture”). Through MarsProtocol, the Joint Venture will seek to provide non-custodial staking tools whereby users’ private keys are not stored in its database to ensure the safety of its users’ digital assets. Currently the services will not be available to U.S. residents. Pursuant to the Shareholders Agreement, SDP will own 60% and Bit Digital Singapore will own 40% of the JV Company. Declaration of dividends on preferred shares On February 7, 2023, the Board of Directors declared an eight (8%) percent ($800,000) dividend on the preference shares to Geney Development Ltd. (“Geney”). Erke Huang, our Chief Financial Officer, is the President of Geney and the beneficial owner of thirty (30%) percent of the equity of Geney, with the remaining seventy (70%) percent held by Zhaohui Deng, the Company’s Chairman of the Board. As of the date of this report, the Company has fully paid the declared dividends. Investment in Auros Global Limited (“Auros”) On February 24, 2023, the Company closed an investment of $2 million in Auros, which is a leading crypto-native algorithmic trading and market making firm that delivers best-in-class liquidity for exchanges and token projects.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.
Use of estimates	Use of estimates In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include, but are not limited to, the valuation of digital assets and other current assets, useful lives of property and equipment, the recoverability of long-lived assets, provision necessary for contingent liabilities and realization of deferred tax assets. Actual results could differ from those estimates.
Fair value of financial instruments	Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 - inputs to the valuation methodology are unobservable. Fair value of digital assets is based on quoted prices in active markets. The fair value of the Company’s other financial instruments including cash and cash equivalents, restricted cash, deposits, other receivables, accounts payable, and other payables, approximate their fair values because of the short-term nature of these assets and liabilities. Warrants were measured at fair value using unobservable inputs and categorized in Level 3 of the fair value hierarchy (Note 11).
Cash and cash equivalents	Cash and cash equivalents Cash includes cash on hand and demand deposits in accounts maintained with commercial banks. The Company considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents.
USDC	USDC USD Coin (“USDC”) is accounted for as a financial instrument; USDC which can be redeemed one USDC for one U.S. dollar on demand from the issuer. While not accounted for as cash or cash equivalents, we treat our USDC holdings as a liquidity resource.
Digital assets	Digital assets Digital assets (primarily include bitcoin and ETH) are included in current assets in the accompanying consolidated balance sheets. Digital assets purchased are recorded at cost and digital assets awarded to the Company through its mining activities and staking activities are accounted for in accordance with the Company’s revenue recognition policy disclosed below. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Digital assets held are accounted for as intangible assets with indefinite useful lives and are subject to impairment losses if the fair value of digital assets decreases below the carrying value at any time during the period. The fair value is measured using the quoted price of the digital assets at the time its fair value is being measured. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. Purchases of digital assets by the Company and digital assets awarded to the Company through its mining activities and staking activities are included within operating activities on the accompanying consolidated statements of cash flows. The changes of digital assets are included within operating activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in “realized gain (loss) on exchange of digital assets” in the consolidated statements of operations and comprehensive loss. The Company accounts for its gains or losses in accordance with the first-in first-out method of accounting. ASC 820 defines “principal market” as the market with the greatest volume and level of activity for the asset or liability. The determination of the principal market (and, as a result, the market participants in the principal market) is made from the perspective of the reporting entity. The digital assets held by the Company are traded on a number of active markets globally. The Company does not use any exchanges to buy or sell of digital assets. Instead, the Company uses Amber Group’s OTC desk for selling or exchanging bitcoins for U.S. dollars or vice versa. The Company determines CoinMarketCap as its principal market, as it is one of the earliest and the most trusted sources by users, institutions, and media for comparing thousands of crypto assets and selected by the U.S. government. The Company also used hourly close price from CryptoCompare to recognize revenue from our digital asset mining activities. The Company believes the hourly close price can better reflect revenue recognized from our digital asset mining activities as compared to daily close price from CoinMarketCap.
Investment security	Investment security As of December 31, 2022, investment security represents the Company’s investment in one fund and one privately held company, over which the Company neither has control nor significant influence through investment in ordinary share. As of December 31, 2021, investment security represents the Company’s investment in one privately held company, over which the Company neither has control nor significant influence through investment in ordinary share. Investment in the fund Equity securities not accounted for using the equity method are carried at fair value with unrealized gains and losses recorded in the consolidated income statements, according to ASC 321, Investments - Equity Securities Investment in the privately held company Equity securities not accounted for using the equity method are carried at fair value with unrealized gains and losses recorded in the consolidated income statements, according to ASC 321, Investments - Equity Securities Equity investments in privately held companies accounted for using the measurement alternative are subject to periodic impairment reviews. The Company’s impairment analysis considers both qualitative and quantitative factors that may have a significant effect on the fair value of these equity securities, including consideration of the impact of the COVID-19 pandemic. In computing realized gains and losses on equity securities, the Company determines cost based on amounts paid using the average cost method. Dividend income is recognized when the right to receive the payment is established.
Deposits for property and equipment	Deposits for property and equipment The deposits for property and equipment represented advance payments for miner purchases. The Company initially recognizes deposits for property and equipment when cash is advanced to suppliers of our miners. Subsequently, the Company derecognizes and reclassifies deposits for property and equipment to property and equipment when control over these miners is transferred to and obtained by the Company. Below is the roll forward of the balance of deposits for property and equipment for the years ended December 31, 2022 and 2021, respectively. For the Years Ended 2022 2021 Opening balance $ 43,094,881 $ 1,324,963 Reclassification to property and equipment (40,500,000 ) (1,199,913 ) Addition of deposits for property and equipment - 43,094,881 Write-off of deposit - (125,050 ) Ending balance $ 2,594,881 $ 43,094,881
Property and equipment, net	Property and equipment, net Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets. The Company’s property and equipment were primarily comprised of digital asset miners with estimated useful lives of three years.
Impairment of long-lived assets	Impairment of long-lived assets Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.
Revenue recognition	Revenue recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not The Company recognizes revenue when it transfers its goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. Digital asset mining The Company has entered into digital asset mining pools by executing contracts with the mining pool operators to provide computing power to the mining pool. The contract is terminable at any time by either party with no termination penalty. Our enforceable right to compensation begins when, and lasts for as long as, we provide computing power to the mining pool operator; our performance obligation extends over the contract term given our continuous provision of computing power. This period of time corresponds with the period of service for which the mining pool operator determines compensation due to us. Given cancellation terms of the contract, and our customary business practice, the contract effectively provides the option to renew for successive contract terms daily. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed digital assets award the mining pool operator receives, for successfully adding a block to the blockchain. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. The Company is entitled to its relative share of consideration even if a block is not successfully placed. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration. ASC 606-10-32-21 requires entities to measure the estimated fair value of noncash consideration at contract inception. Because the consideration to which the Company expects to be entitled for providing computing power is entirely variable, as well as being noncash consideration, the Company assesses the estimated amount of the variable noncash consideration at contract inception and subsequently, to determine when and to what extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur once the uncertainty associated with the variable consideration is subsequently resolved. Because it is probable that a significant reversal of cumulative revenue will not occur and the Company is able to calculate the payout based on the contractual formula. This amount should be estimated and recognized in revenue upon inception, which is when hash rate is provided. For reasons of operational practicality, the Company applies an accounting convention to use the daily quoted closing U.S. dollar spot rate of digital asset each day to determine the fair value of digital asset on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. Fair value of the digital assets award received is determined using the quoted price of the related digital assets at the time of receipt. There is currently no specific definitive guidance under US GAAP or alternative accounting framework for the accounting for digital assets recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Below table presents the Company’s revenues generated from digital asset mining business by countries: For the Years Ended December 31, 2022 2021 2020 United States $ 31,132,771 $ 33,573,412 $ 307,673 Canada 1,137,918 640,554 - Hong Kong - 61,864,604 20,757,440 $ 32,270,689 $ 96,078,570 $ 21,065,113 Below table presents the Company’s revenues by mining pool operators: For the Years Ended December 31, 2022 2021 2020 Foundry USA Pool $ 32,270,689 $ 27,862,786 $ - Huobi Pool - 58,607,927 19,641,993 Antpool - 9,607,857 347,981 Poolin - - 1,075,139 $ 32,270,689 $ 96,078,570 $ 21,065,113 Note: The revenue by mining pool operator is allocation of total revenue based on the number of digital assets mined for the years ended on December 31, 2021 and 2020. ETH staking business The Company also generates revenue through ETH staking rewards. The ETH staking business is comprised of native staking and liquid staking. (a) Native staking The Company has entered into network-based smart contracts by staking ETH on nodes run by third-party operators or nodes maintained by us in 2022. Through these contracts, the Company stakes ETH on nodes for the purpose of validating transactions and adding blocks to the Ethereum blockchain network. The staked ETHs remained locked up until the Shanghai upgrade occurred on April 12, 2023. In exchange for staking the ETH and validating transactions on blockchain networks, the Company is entitled to the block rewards and transaction fees for successfully validating or adding a block to the blockchain. These rewards are received by the Company directly from the Ethereum network and are calculated approximately based on the proportion of the Company’s stake to the total ETH staked by all validators. The provision of validating blockchain transactions is an output of the Company’s ordinary activities. Each separate block creation or validation under a smart contract with a network represents a performance obligation. The transaction consideration the Company receives, the digital asset awards, is a non-cash consideration, which the Company measures at fair value on the date received. The fair value of the ETH reward received is determined using the quoted price of the ETH at the time of receipt. The satisfaction of the performance obligation for transaction verification services occurs at a point in time when confirmation is received from the network indicating that the validation is complete, and the awards are deposited to our address. At that point, revenue is recognized. The Company commenced native staking business in the year ended December 31, 2022. For the year ended December 31, 2022, the Company generated revenues of $5,722 from the native staking. (b) Liquid staking The liquid staking is similar to native staking in terms of performance obligations, determination of transaction price and revenue recognition. However liquid staking solves this illiquidity problem arising from the native staking. During the liquid staking transactions Shanghai upgrade occurred on April 12, 2023, the Company receives receipt tokens sETH-H to represent staked ETH at 1:1 ratio. The liquid staking rewards are in the form of rETH-H which could be redeemed for ETH from the liquid staking provider or exchange for ETH via OTC. The Company commenced liquid staking business in the year ended December 31, 2022. For the year ended December 31, 2022, the Company generated revenues of $20,182 from liquid staking. Disaggregation of revenues Below table presents the disaggregation of Company’s revenues by revenue streams. For the Years Ended December 31, 2022 2021 2020 Digital asset mining $ 32,270,689 $ 96,078,570 $ 21,065,113 ETH native staking 5,722 - - ETH liquid staking 20,182 - - $ 32,296,593 $ 96,078,570 $ 21,065,113
Cost of revenue	Cost of revenue The Company’s cost of revenue consists primarily of i) direct production costs related to mining operations, including electricity costs, profit-sharing fees/variable performance fees and/or other relevant costs paid to our hosting facilities, but excluding depreciation and amortization, which are separately stated in the Company’s consolidated statements of operations, and ii) direct cost related to ETH staking business, including service fees payable to the service provider, which was immaterial during the year ended December 31, 2022.
Income taxes	Income taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not be realizable. ASC Topic 740, Income Taxes, (“ASC 740”), also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period, disclosure and transition.
Loss per share	Loss per share Basic loss per share is computed by dividing net 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 shares equivalents in the weighted average shares outstanding, as they would be anti-dilutive.
Comprehensive loss	Comprehensive loss Comprehensive loss consists of two components, net loss and other comprehensive income. For the years ended December 31, 2020, the foreign currency translation gain or loss resulting from translation of the financial statements expressed in RMB to US$ is reported in other comprehensive income (loss) in the consolidated statements of operations and other comprehensive loss. For the years ended December 31, 2022 and 2021, the Company had no other comprehensive income.
Commitments and contingencies	Commitments and contingencies In the normal course of business, the Company is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a material loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the nature of the guarantee would be disclosed.
Share-based compensation	Share-based compensation Share-based awards granted are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the straight-line attribution method, net of estimated forfeitures, over the requisite service period. The fair values of restricted stock units (“RSUs”) and restricted shares are determined with reference to the fair value of the underlying shares and the fair value of share options is generally determined using the Black-Scholes valuation model. The value is recognized as an expense over the respective service period, net of estimated forfeitures. Share-based compensation expense, when recognized, is charged to the consolidated income statements with the corresponding entry to additional paid-in capital, liability or noncontrolling interests. On each measurement date, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including the fair value of the underlying shares, expected life and expected volatility. The Company recognizes the impact of any revisions to the original forfeiture rate assumptions in the consolidated income statements, with a corresponding adjustment to equity. In April 2019, the Company adopted ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting
Treasury stock	Treasury stock The Company accounts for treasury stocks using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury stocks account on the consolidated balance sheets. The Company treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as ordinary share repurchases because they reduce the number of shares that would have been issued upon vesting.
Reclassification	Reclassification Certain items in the financial statements of comparative period have been reclassified to conform to the financial statements for the current period. The reclassification has no impact on the total assets and total liabilities as of December 31, 2022 or on the statements of operations for the year ended December 31, 2022.
Recent accounting pronouncements	Recent accounting pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its consolidated financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) In 2020, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of consolidated financial statements reflect the activities	Name Background Ownership Bit Digital USA, Inc. (“BT USA”) ● A United States company 100% owned by Bit Digital, Inc. Bit Digital Canada, Inc. (“BT Canada”) ● A Canadian company 100% owned by Bit Digital, Inc. Bit Digital Hong Kong Limited (“BT HK”) ● A Hong Kong company 100% owned by Bit Digital, Inc. Bit Digital Strategies Limited (“BT Strategies”) ● A Hong Kong company 100% owned by Bit Digital, Inc. Bit Digital Singapore PTE. LTD. (“BT Singapore”) ● A Singapore company 100% owned by Bit Digital, Inc.

Restatement of Previously Iss_3

Restatement of Previously Issued Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Restatement Of Previously Issued Financial Statements Abstract
Schedule of consolidated balance sheet	As of December 31, 2021 Consolidated Balance Sheet As previously Adjustment As restated Digital assets $ 35,282,682 $ (6,242,921 ) $ 29,039,761 Total current assets $ 96,561,290 $ (6,242,921 ) $ 90,318,369 Total assets $ 179,917,981 $ (6,242,921 ) $ 173,675,060 Accumulated deficit $ (19,876,487 ) $ (6,242,921 ) $ (26,119,408 ) Total shareholders’ equity $ 171,643,727 $ (6,242,921 ) $ 165,400,806 Total liabilities and shareholders’ equity $ 179,917,981 $ (6,242,921 ) $ 173,675,060
Schedule of consolidated statement of operation	For the Year Ended Consolidated Statement of Operations As previously Adjustment As restated Realized gain on exchange of digital assets $ 7,738,557 $ 13,074,610 $ 20,813,167 Impairment of digital assets $ (9,045,007 ) $ (18,948,564 ) $ (27,993,571 ) Total operating expenses $ (84,314,394 ) $ (5,873,954 ) $ (90,188,348 ) Income from operations $ 11,764,176 $ (5,873,954 ) $ 5,890,222 Income before income taxes $ 8,720,343 $ (5,873,954 ) $ 2,846,389 Net income (loss) from continuing operations $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Net income (loss) and comprehensive income (loss) $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Weighted average number of ordinary share outstanding – diluted 57,529,895 (2,089,368 ) 55,440,527 Earnings (loss) per share – basic $ 0.09 $ (0.11 ) $ (0.02 ) Earnings (loss) per share – diluted $ 0.08 $ (0.10 ) $ (0.02 ) For the Year Ended Consolidated Statement of Operations As previously Adjustment As restated Realized gain on exchange of digital assets $ 805,557 $ 628,987 $ 1,434,544 Impairment of digital assets $ - $ (997,954 ) $ (997,954 ) Total operating expenses $ (19,138,843 ) $ (368,967 ) $ (19,507,810 ) Income from operations $ 1,926,270 $ (368,967 ) $ 1,557,303 Income before income taxes $ 1,924,346 $ (368,967 ) $ 1,555,379 Net income from continuing operations $ 1,924,346 $ (368,967 ) $ 1,555,379 Net loss $ (1,910,337 ) $ (368,967 ) $ (2,279,304 ) Comprehensive loss $ (1,810,152 ) $ (368,967 ) $ (2,179,119 ) Loss per share – basic $ (0.06 ) $ (0.01 ) $ (0.07 ) Loss per share – diluted $ (0.06 ) $ (0.01 ) $ (0.07 )
Schedule of consolidated statement of stockholders’ equity	For the Year Ended Consolidated Statement of Stockholders’ Equity Accumulated deficit Total shareholders’ Net income (as previously reported) $ 4,864,002 $ 4,864,002 Net loss (adjustment) $ (5,873,954 ) $ (5,873,954 ) Net loss (as restated) $ (1,009,952 ) $ (1,009,952 ) Balance as of December 31, 2021 (as previously reported) $ (19,876,487 ) $ 171,643,727 Balance as of December 31, 2021 (adjustment) $ (6,242,921 ) $ (6,242,921 ) Balance as of December 31, 2021 (as restated) $ (26,119,408 ) $ 165,400,806 For the Year Ended Consolidated Statement of Stockholders’ Equity Accumulated deficit Total shareholders’ Net loss (as previously reported) $ (1,910,337 ) $ (1,910,337 ) Net loss (adjustment) $ (368,967 ) $ (368,967 ) Net loss (as restated) $ (2,279,304 ) $ (2,279,304 ) Balance as of December 31, 2020 (as previously reported) $ (15,700,489 ) $ 37,999,575 Balance as of December 31, 2020 (adjustment) $ (368,967 ) $ (368,967 ) Balance as of December 31, 2020 (as restated) $ (16,069,456 ) $ 37,630,608
Schedule of consolidated statement of cash flows	For the Year Ended Consolidated Statement of Cash Flows As previously Adjustment As restated Net income (loss) $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Net income (loss) from continuing operations $ 4,864,002 $ (5,873,954 ) $ (1,009,952 ) Digital assets generated from mining $ - $ (96,078,570 ) $ (96,078,570 ) Realized gain on exchange of digital assets $ - $ (20,813,167 ) $ (20,813,167 ) Impairment of digital assets $ 9,045,007 $ 18,948,564 $ 27,993,571 Digital assets and stable coins $ (104,117,143 ) $ 109,823,933 $ 5,706,790 Other payables and accrued liabilities $ 8,695,500 $ (100,016 ) $ 8,595,484 Net Cash Used in Operating Activities $ (23,258,682 ) $ 5,906,790 $ (17,351,892 ) Proceeds from sales of digital assets $ 5,906,790 $ (5,906,790 ) $ - Net Cash Used in Investing Activities $ (40,934,430 ) $ (5,906,790 ) $ (46,841,220 ) For the Year Ended Consolidated Statement of Cash Flows As previously Adjustment As restated Net loss $ (1,910,337 ) $ (368,967 ) $ (2,279,304 ) Net income (loss) from continuing operations $ 1,924,346 $ (368,967 ) $ 1,555,379 Digital assets generated from mining $ - $ (21,065,113 ) $ (21,065,113 ) Realized gain on exchange of digital assets $ - $ (1,434,544 ) $ (1,434,544 ) Impairment of digital assets $ - $ 997,954 $ 997,954 Digital assets and stable coins $ (21,440,377 ) $ 24,297,004 $ 2,856,627 Other payables and accrued liabilities $ (207,803 ) $ 21,072 $ (186,731 ) Net Cash Used in Operating Activities $ (3,419,096 ) $ 2,447,406 $ (971,690 ) Proceeds from sales of digital assets $ 2,447,406 $ (2,447,406 ) $ - Net Cash Used in Investing Activities $ (2,046,759 ) $ (2,447,406 ) $ (4,494,165 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of balance of deposits for property and equipment	For the Years Ended 2022 2021 Opening balance $ 43,094,881 $ 1,324,963 Reclassification to property and equipment (40,500,000 ) (1,199,913 ) Addition of deposits for property and equipment - 43,094,881 Write-off of deposit - (125,050 ) Ending balance $ 2,594,881 $ 43,094,881
Schedule of company’s revenues generated from digital asset mining business by countries	For the Years Ended December 31, 2022 2021 2020 United States $ 31,132,771 $ 33,573,412 $ 307,673 Canada 1,137,918 640,554 - Hong Kong - 61,864,604 20,757,440 $ 32,270,689 $ 96,078,570 $ 21,065,113
Schedule of company’s revenues by mining pool operators	For the Years Ended December 31, 2022 2021 2020 Foundry USA Pool $ 32,270,689 $ 27,862,786 $ - Huobi Pool - 58,607,927 19,641,993 Antpool - 9,607,857 347,981 Poolin - - 1,075,139 $ 32,270,689 $ 96,078,570 $ 21,065,113
Schedule of company’s revenues by revenue streams	For the Years Ended December 31, 2022 2021 2020 Digital asset mining $ 32,270,689 $ 96,078,570 $ 21,065,113 ETH native staking 5,722 - - ETH liquid staking 20,182 - - $ 32,296,593 $ 96,078,570 $ 21,065,113

USDC (Tables)

USDC (Tables)	12 Months Ended
	Dec. 31, 2022
USDC [Abstract]
Schedule of USDC	December 31, December 31, USDC $ 626,441 $ 15,829,464
Schedule of additional information about USDC	For the Years Ended 2022 2021 2020 Opening balance $ 15,829,464 $ 56,005 $ - Collection of USDC from exchange of cash and other digital assets 1,998,002 18,201,257 - Collection of USDC from private placement - 1,179,368 - Receipt of USDC from sales of property and equipment 712,800 - - Collection of deposits of miner sales and other fees 230,000 - - Refund of deposit on property and equipment - 234,371 - Collection from borrowings from a related party - - 329,722 Sales of USDC in exchange of cash (13,450,000 ) - - Payment of USDC for transportation expenses (2,426,065 ) - - Payment of USDC for other expenses (2,267,760 ) (1,615,922 ) (273,717 ) Investment in an investment security - (1,000,000 ) - Purchases of miners - (895,893 ) - Repayment of borrowings from a related party (Note 15) - (329,722 ) - Ending balance $ 626,441 $ 15,829,464 $ 56,005

Digital Assets (Tables)

Digital Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Digital Assets [Abstract]
Schedule of digital asset holdings	December 31, December 31, (Restated) BTC $ 15,796,147 $ 28,846,587 ETH* $ 11,791,181 $ 193,174 $ 27,587,328 $ 29,039,761 * The ETH ending balance as of December 31, 2022 includes 16.3 rETH-H earned from the liquid staking activity described below.
Schedule of additional information about BTC	For the Years Ended December 31, 2022 2021 2020 (Restated) (Restated) Opening balance $ 28,846,587 $ 5,868,950 $ - Receipt of BTC from mining services 31,414,102 96,078,586 21,065,113 Sales of BTC in exchange of cash (9,837,211 ) (16,973,380 ) (2,138,159 ) Sales of BTC in exchange of ETH (12,160,450 ) - - Payment of BTC for service charges from mining facilities (1,199,380 ) (14,443,484 ) (11,049,584 ) Payment of BTC as deposits for miners - (3,527,671 ) - Payment of BTC as deposits in hosting facilities (9,292,646 ) (900,563 ) Payment of BTC for other expenses (124,405 ) (1,053,221 ) (18,380 ) Collection of BTC from a third party - 59,300 (91,523 ) Impairment of BTC (21,143,096 ) (27,869,847 ) (997,954 ) Ending balance $ 15,796,147 $ 28,846,587 $ 5,868,950 For the Years Ended December 31, 2022 2021 2020 (Restated) Opening balance $ 193,174 $ - $ - Receipt of ETH from exchange of BTC 14,368,964 - - Receipt of ETH from mining services 856,604 - - Receipt of ETH from native staking business 5,722 - - Receipt of ETH from liquid staking business* 20,182 - - Other income in the form of ETH 23,834 27,326 - Purchases of ETH - 289,668 - Payment of ETH for service charges from mining facilities (173,473 ) - - Collection (payment) of ETH for other income (expenses) 7,345 (96 ) - Impairment of ETH (3,511,171 ) (123,724 ) - Ending balance $ 11,791,181 $ 193,174 $ - * It represents 16.3 rETH-H earned from the liquid staking activity in 2022.

Other Current Assets (Tables)

Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Other Current Assets [Abstract]
Schedule of other current assets	December 31, December 31, Deposits (a) $ 400,000 $ 2,981,684 Prepaid marketing expenses 307,004 - Prepaid director and officer insurance expenses 365,350 - Prepaid consulting service expenses - - Office rental deposit 36,343 41,793 Others 325,302 27,139 $ 1,433,999 $ 3,050,616 (a) As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to one and two service providers, respectively, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due within 12 months from the effective date of the agreement.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31, December 31, Miners for Bitcoin $ 32,006,128 $ 33,268,859 Miners for ETH 211,142 5,829,019 Less: Accumulated depreciation (9,067,879 ) (6,608,720 ) Property and equipment, net $ 22,609,391 $ 32,489,158

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investment Securities [Abstract]
Schedule of investment securities	December 31, December 31, Investment in Digital Future Alliance Limited (“DFA”) (a) $ 94,534 $ 1,000,000 Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”) (b) 1,693,388 - Total $ 1,787,922 $ 1,000,000

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Other Non-Current Assets [Abstract]
Schedule of other noncurrent assets	December 31, December 31, Deposits (a) $ 8,965,160 $ 6,714,571 Others 68,040 - Total $ 9,033,200 $ 6,714,571 (a) As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due 12 months from the effective date of the agreement.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Compensation [Abstract]
Schedule of RSUs relating to ordinary shares granted	Number of RSUs Weighted Awarded and unvested as of January 1, 2021 - $ - Granted 2,426,293 $ 9.18 Vested (2,247,617 ) $ 8.82 Awarded and unvested as of December 31, 2021 178,676 $ 13.67 Granted 54,000 $ 2.26 Vested (221,368 ) $ 12.43 Awarded and unvested as of December 31, 2022 11,308 $ 15.02 Expected to vest as of December 31, 2022 11,308 $ 15.02
Schedule of share option	Number of Weighted Weighted Options outstanding on December 31, 2021 — — — Granted 355,000 $ 2.67 2.28 Forfeited (21,875 ) $ 1.13 — Expired — — — Exercised — — — Options outstanding on December 31, 2022 333,125 $ 2.77 1.51 Vested and exercisable on December 31, 2022 113,750 2.72 1.44 Vested and expected to vest on December 31, 2022 333,125 $ 2.77 1.51

Share Capital (Tables)

Share Capital (Tables)	12 Months Ended
	Dec. 31, 2022
Share Capital [Abstract]
Schedule of level 3 fair value measurements	As of Volatility 192.85 % Stock price 7.59 Expected life of the warrants to convert 3.81 Risk free rate 0.97 % Dividend yield 0.0 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Abstract]
Schedule of incurred income tax	For the Years Ended 2022 2021 2020 Federal income tax benefits (expenses) $ 642,118 $ (738,851 ) $ - State income tax benefits (expenses) 301,410 (408,295 ) - Total $ 943,528 $ (1,147,146 ) $ -
Schedule of canada federal and state income tax benefits	For the Years Ended 2022 2021 2020 Federal income tax (expenses) benefits $ (37,879 ) $ 37,879 $ - State income tax (expenses) benefits (20,202 ) 20,202 - Total $ (58,081 ) $ 58,081 $ -
Schedule of effective tax rate	For the Years Ended 2022 2021 2020 US Federal income tax rate $ 21.0 % $ 21.0 % $ 21.0 % Effect of foreign operations taxed at various rates (5.5 )% 6.0 % 0 % State income taxes, net of federal benefit 0.5 % 3.0 % 0 % Reserve on Hong Kong offshore and share-based compensation tax benefits (0.5 )% 11.5 % 0 % Excessive share-based compensation tax benefits 0 % (3.0 )% 0 % Non-deductible executives compensation 0 % 1.9 % 0 % Non-deductible impairment on digital assets (8.5 )% 3.7 % 0 % Withholding tax on intercompany interest payment (0.2 )% 0 % 0 % Non-taxable capital gain on investments 8.0 % 0 % 0 % Others 0.2 % 0.1 % 0 % Effect of change in valuation allowance (14.0 )% 0 % (21 )% Total $ 1.0 % $ 44.2 % $ -
Schedule of deferred tax assets and liabilities	December 31, December 31, Deferred tax assets: Net operating losses carry forwards $ 8,357,549 $ 4,775,905 Share-based compensation 610,298 609,933 Capital loss carryforwards 3,812,024 - Deferred tax liabilities: Depreciation (3,855,914 ) (5,696,982 ) Net deferred tax assets/(liabilities): 8,923,957 (311,144 ) Less: valuation allowance (8,923,957 ) (93,147 ) Net deferred tax assets/(liabilities) after valuation allowance $ - $ (404,291 )
Schedule of reconciliation of gross unrecognized tax benefits	For the Years Ended 2022 2021 2020 Unrecognized tax benefits at the beginning of the year $ 2,767,276 $ - $ - Increases for tax positions taken in current year $ - $ 2,767,276 $ - Increases for tax positions taken in prior years $ 276,728 $ - $ - Unrecognized tax benefits at the end of the year $ 3,044,004 $ 2,767,276 $ -

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Schedule of loss per share [Abstract]
Schedule of loss per share	For the Years Ended 2022 2021 2020 (Restated) (Restated) Net loss $ (105,296,603 ) $ (1,009,952 ) $ (2,279,304 ) Weighted average number of ordinary share outstanding Basic 78,614,174 55,440,527 30,591,122 Diluted 78,614,174 55,440,527 30,591,122 Loss per share Basic $ (1.34 ) $ (0.02 ) $ (0.07 ) Diluted $ (1.34 ) $ (0.02 ) $ (0.07 )

Disposition of Point Cattle (Ta

Disposition of Point Cattle (Tables)	12 Months Ended
	Dec. 31, 2022
Disposition of Point Cattle [Abstract]
Schedule of net loss from discontinued operations	For the Years Ended 2022 2021 2020 Discontinued Operations Turnover $ - $ - $ - Operating expenses - - - Other income, net - - - Income tax expenses - - - Impairment of net assets - - (3,734,498 ) Net gain from discontinued operations - - (100,185 ) Net loss from discontinued operations $ - $ - $ (3,834,683 )

Restatement of Previously Iss_4

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Schedule of restated condensed consolidated balance sheets (unaudited )	March 31, 2022 (unaudited) March 31, 2021 (unaudited) As Adjustments As As Adjustments As ASSETS Current Assets Cash and cash equivalents 28,086,550 - 28,086,550 227,566 - 227,566 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins - 15,768,934 15,768,934 - 217,004 217,004 Digital assets 43,899,644 (16,164,693 ) 27,734,951 29,361,599 (2,876,997 ) 26,484,602 Income tax receivable - - - - - - Other current assets 4,968,525 - 4,968,525 4,908,935 - 4,908,935 Total Current Assets 78,274,719 (395,759 ) 77,878,960 34,498,100 (2,659,993 ) 31,838,107 Investment security 333,334 - 333,334 1,000,000 - 1,000,000 Deposits for property and equipment 54,147,381 - 54,147,381 14,400,272 - 14,400,272 Property and equipment, net 28,651,298 - 28,651,298 28,193,696 - 28,193,696 Deferred tax assets 849,944 - 849,944 - - - Other noncurrent assets 7,305,223 - 7,305,223 - - - Total Assets 169,561,899 (395,759 ) 169,166,140 78,092,068 (2,659,993 ) 75,432,075 LIABILITIES AND EQUITY Current Liabilities Accounts payable 3,537,633 - 3,537,633 1,396,773 - 1,396,773 Due to related parties - - - 7,000 - 7,000 Income tax payable 348,253 - 348,253 251,919 - 251,919 Convertible notes - - - 1,280,000 - 1,280,000 Other payables and accrued liabilities 988,537 - 988,537 160,886 - 160,886 Total Current Liabilities 4,874,423 - 4,874,423 3,096,578 - 3,096,578 Deferred tax liabilities - - - 30,223 - 30,223 Long-term income tax payable 2,836,458 - 2,836,458 - - - Total Liabilities 7,710,881 - 7,710,881 3,126,801 - 3,126,801 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 - - - Common shares 696,293 - 696,293 483,059 - 483,059 Treasury shares (1,171,679 ) - (1,171,679 ) - - - Additional paid-in capital 183,332,680 - 183,332,680 54,396,373 - 54,396,373 Accumulated deficit (30,056,276 ) (395,759 ) (30,452,035 ) 20,085,835 (2,659,993 ) 17,425,842 Total Shareholders’ Equity 161,851,018 (395,759 ) 161,455,259 74,965,267 (2,659,993 ) 72,305,274 Total Liabilities and Equity 169,561,899 (395,759 ) 169,166,140 78,092,068 (2,659,993 ) 75,432,075 June 30, 2022 (unaudited) June 30, 2021 (unaudited) As previously reported Adjustments As restated As previously reported Adjustments As restated ASSETS Current Assets Cash and cash equivalents 44,295,291 - 44,295,291 28,254,066 - 28,254,066 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins - 11,355,060 11,355,060 - 154,664 154,664 Digital assets 26,945,910 (11,389,504 ) 15,556,406 20,989,096 (3,336,525 ) 17,652,571 Income tax receivable 171,362 - 171,362 - - - Other current assets 5,695,638 - 5,695,638 10,366,860 - 10,366,860 Total Current Assets 78,428,201 (34,444 ) 78,393,757 59,610,022 (3,181,861 ) 56,428,161 Investment security 333,334 - 333,334 1,000,000 - 1,000,000 Deposits for property and equipment 4,094,881 - 4,094,881 11,495,450 - 11,495,450 Property and equipment, net 89,995,943 - 89,995,943 35,953,562 - 35,953,562 Other noncurrent assets 6,112,861 - 6,112,861 - - - Total Assets 178,965,220 (34,444 ) 178,930,776 108,059,034 (3,181,861 ) 104,877,173 LIABILITIES AND EQUITY Current Liabilities Accounts payable 1,944,502 - 1,944,502 2,455,694 - 2,455,694 Income tax payable - - - 211,365 - 211,365 Other payables and accrued liabilities 2,151,858 - 2,151,858 501,854 - 501,854 Total Current Liabilities 4,096,360 - 4,096,360 3,168,913 - 3,168,913 Deferred tax liabilities - - - 47,684 - 47,684 Long-term income tax payable 2,905,640 - 2,905,640 - - - Total Liabilities 7,002,000 - 7,002,000 3,216,597 - 3,216,597 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 - - - Common shares 824,057 - 824,057 539,063 - 539,063 Treasury shares (1,171,679 ) - (1,171,679 ) - - - Additional paid-in capital 211,441,850 - 211,441,850 85,556,939 - 85,556,939 Accumulated deficit (48,181,008 ) (34,444 ) (48,215,452 ) 18,746,435 (3,181,861 ) 15,564,574 Total Shareholders’ Equity 171,963,220 (34,444 ) 171,928,776 104,842,437 (3,181,861 ) 101,660,576 Total Liabilities and Equity 178,965,220 (34,444 ) 178,930,776 108,059,034 (3,181,861 ) 104,877,173 September 30, 2022 (unaudited) September 30, 2021 (unaudited) As Adjustments As restated As Adjustments As ASSETS Current Assets Cash and cash equivalents 32,266,078 - 32,266,078 26,461,096 - 26,461,096 Restricted cash 1,320,000 - 1,320,000 - - - Stable coins 9,058,567 - 9,058,567 - 11,197,324 11,197,324 Digital assets 23,337,430 (208,518 ) 23,128,912 35,020,251 (14,738,663 ) 20,281,588 Income tax receivable 86,104 - 86,104 - - - Other current assets 2,316,803 - 2,316,803 3,144,300 - 3,144,300 Total Current Assets 68,384,982 (208,518 ) 68,176,464 64,625,647 (3,541,339 ) 61,084,308 Investment security 2,365,468 - 2,365,468 1,000,000 - 1,000,000 Deposits for property and equipment 4,094,881 - 4,094,881 7,930,061 - 7,930,061 Property and equipment, net 80,658,459 - 80,658,459 29,978,400 - 29,978,400 Other noncurrent assets 9,173,011 - 9,173,011 6,844,416 - 6,844,416 Total Assets 164,676,801 (208,518 ) 164,468,283 110,378,524 (3,541,339 ) 106,837,185 LIABILITIES AND EQUITY Current Liabilities Accounts payable 2,111,433 - 2,111,433 3,011,122 - 3,011,122 Income tax payable - - - 493,703 - 493,703 Other payables and accrued liabilities 1,348,825 - 1,348,825 154,629 - 154,629 Total Current Liabilities 3,460,258 - 3,460,258 3,659,454 - 3,659,454 Deferred tax liabilities - - - 703,924 - 703,924 Long-term income tax payable 2,974,822 - 2,974,822 - - - Total Liabilities 6,435,080 - 6,435,080 4,363,378 - 4,363,378 Commitments and Contingencies Shareholders’ Equity Preferred shares 9,050,000 - 9,050,000 9,050,000 - 9,050,000 Common shares 824,371 - 824,371 558,174 - 558,174 Treasury shares (1,171,534 ) - (1,171,534 ) - - - Additional paid-in capital 212,058,000 - 212,058,000 106,849,371 - 106,849,371 Accumulated deficit (62,519,116 ) (208,518 ) (62,727,634 ) (10,442,399 ) (3,541,339 ) (13,983,738 ) Total Shareholders’ Equity 158,241,721 (208,518 ) 158,033,203 106,015,146 (3,541,339 ) 102,473,807 Total Liabilities and Equity 164,676,801 (208,518 ) 164,468,283 110,378,524 (3,541,339 ) 106,837,185
Schedule of restated condensed consolidated statements of operations (unaudited)	For the three months ended As previously reported Adjustments As restated Revenue from cryptocurrency mining 8,573,747 - 8,573,747 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (4,268,251 ) - (4,268,251 ) Depreciation and amortization expenses (3,799,629 ) - (3,799,629 ) General and administrative expenses (4,272,695 ) - (4,272,695 ) Realized gain on exchange of digital assets 1,637,023 427,257 2,064,280 Impairment of digital assets (10,045,603 ) 5,419,905 (4,625,698 ) Total operating expenses (20,749,155 ) 5,847,162 (14,901,993 ) Loss from Operations (12,175,408 ) 5,847,162 (6,328,246 ) Gain from disposal of property and equipment 174,568 - 174,568 Gain from sale of investment security 1,039,999 - 1,039,999 Other expenses (570,890 ) - (570,890 ) Net loss from continuing operations before income taxes (11,531,731 ) 5,847,162 (5,684,569 ) Income tax expenses 1,351,942 - 1,351,942 Net loss (10,179,789 ) 5,847,162 (4,332,627 ) Weighted average number of ordinary share outstanding Basic and Diluted 69,627,314 - 69,627,314 Loss per share Basic and Diluted (0.15 ) 0.09 (0.06 ) For the three months ended For the six months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 6,815,000 - 6,815,000 15,388,747 - 15,388,747 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (3,584,145 ) - (3,584,145 ) (7,852,396 ) - (7,852,396 ) Depreciation and amortization expenses (5,322,120 ) - (5,322,120 ) (9,121,749 ) - (9,121,749 ) General and administrative expenses (4,598,238 ) - (4,598,238 ) (8,870,933 ) - (8,870,933 ) Realized gain on exchange of digital assets 2,115,301 86,335 2,201,636 3,752,324 513,592 4,265,916 Impairment of digital assets (13,639,386 ) 274,980 (13,364,406 ) (23,684,989 ) 5,694,885 (17,990,104 ) Total operating expenses (25,028,588 ) 361,315 (24,667,273 ) (45,777,743 ) 6,208,477 (39,569,266 ) Loss from Operations (18,213,588 ) 361,315 (17,852,273 ) (30,388,996 ) 6,208,477 (24,180,519 ) Gain from disposal of property and equipment 1,280,328 - 1,280,328 1,454,896 - 1,454,896 Gain from sale of investment security - - - 1,039,999 - 1,039,999 Other expenses (20,179 ) - (20,179 ) (591,069 ) - (591,069 ) Net loss from continuing operations before income taxes (16,953,439 ) 361,315 (16,592,124 ) (28,485,170 ) 6,208,477 (22,276,693 ) Income tax expenses (1,171,293 ) - (1,171,293 ) 180,649 - 180,649 Net loss (18,124,732 ) 361,315 (17,763,417 ) (28,304,521 ) 6,208,477 (22,096,044 ) Weighted average number of ordinary share outstanding Basic and Diluted 49,737,336 - 49,737,336 74,695,686 - 74,695,686 Loss per share Basic and Diluted (0.36 ) - (0.36 ) (0.38 ) 0.08 (0.30 ) For the three months ended For the nine months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 9,130,961 - 9,130,961 24,519,708 - 24,519,708 Operating Costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (6,500,483 ) - (6,500,483 ) (14,352,879 ) - (14,352,879 ) Depreciation and amortization expenses (9,312,176 ) - (9,312,176 ) (18,433,925 ) - (18,433,925 ) General and administrative expenses (6,231,658 ) - (6,231,658 ) (15,102,591 ) - (15,102,591 ) Realized gain on exchange of digital assets 1,049,110 178,958 1,228,068 4,801,434 692,550 5,493,984 Impairment of digital assets (2,365,132 ) (353,032 ) (2,718,164 ) (26,050,121 ) 5,341,853 (20,708,268 ) Total operating expenses (23,360,339 ) (174,074 ) (23,534,413 ) (69,138,082 ) 6,034,403 (63,103,679 ) Loss from Operations (14,229,378 ) (174,074 ) (14,403,452 ) (44,618,374 ) 6,034,403 (38,583,971 ) Gain from disposal of property and equipment 60,701 - 60,701 1,515,597 - 1,515,597 Gain from sale of investment security - - - 1,039,999 - 1,039,999 Other expenses 26,098 - 26,098 (564,971 ) - (564,971 ) Net loss from continuing operations before income taxes (14,142,579 ) (174,074 ) (14,316,653 ) (42,627,749 ) 6,034,403 (36,593,346 ) Income tax expenses (195,529 ) - (195,529 ) (14,880 ) - (14,880 ) Net loss (14,338,108 ) (174,074 ) (14,512,182 ) (42,642,629 ) 6,034,403 (36,608,226 ) Weighted average number of ordinary share outstanding Basic and Diluted 54,675,621 - 54,675,621 77,296,373 - 77,296,373 Loss per share Basic and Diluted (0.26 ) (0.01 ) (0.27 ) (0.55 ) 0.08 (0.47 ) For the three months ended As Adjustments As restated Revenue from cryptocurrency mining 43,953,050 - 43,953,050 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (12,467,728 ) - (12,467,728 ) Depreciation and amortization expenses (3,650,374 ) - (3,650,374 ) General and administrative expenses (2,225,170 ) - (2,225,170 ) Realized gain on exchange of digital assets 10,456,497 2,838,187 13,294,684 Impairment of digital assets - (5,129,213 ) (5,129,213 ) Total operating expenses (7,886,775 ) (2,291,026 ) (10,177,801 ) Income from Operations 36,066,275 (2,291,026 ) 33,775,249 Other income, net 2,191 - 2,191 Net income from continuing operations before income taxes 36,068,466 (2,291,026 ) 33,777,440 Income tax expenses (282,142 ) - (282,142 ) Net income 35,786,324 (2,291,026 ) 33,495,298 Weighted average number of ordinary share outstanding Basic and Diluted 48,291,310 - 48,291,310 Earnings per share Basic and Diluted 0.74 (0.05 ) 0.69 For the three months ended For the six months ended As previously reported Adjustments As restated As previously reported Adjustments As restated Revenue from cryptocurrency mining 28,342,694 - 28,342,694 72,295,744 - 72,295,744 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (10,883,650 ) - (10,883,650 ) (23,351,378 ) - (23,351,378 ) Depreciation and amortization expenses (2,348,657 ) - (2,348,657 ) (5,999,031 ) - (5,999,031 ) General and administrative expenses (4,335,983 ) - (4,335,983 ) (6,561,153 ) - (6,561,153 ) Realized gain on exchange of digital assets (3,503,845 ) 8,649,435 5,145,590 6,952,652 11,487,622 18,440,274 Impairment of digital assets (9,045,007 ) (9,171,303 ) (18,216,310 ) (9,045,007 ) (14,300,516 ) (23,345,523 ) Total operating expenses (30,117,142 ) (521,868 ) (30,639,010 ) (38,003,917 ) (2,812,894 ) (40,816,811 ) (Loss) Income from Operations (1,774,448 ) (521,868 ) (2,296,316 ) 34,291,827 (2,812,894 ) 31,478,933 Gain from disposal of property and equipment 43,436 - 43,436 43,436 - 43,436 Other income, net 493,519 - 493,519 495,710 - 495,710 Net (loss) income from continuing operations before income taxes (1,237,493 ) (521,868 ) (1,759,361 ) 34,830,973 (2,812,894 ) 32,018,079 Income tax expenses (101,907 ) - (101,907 ) (384,049 ) - (384,049 ) Net (loss) income (1,339,400 ) (521,868 ) (1,861,268 ) 34,446,924 (2,812,894 ) 31,634,030 Weighted average number of ordinary share outstanding Basic and Diluted 49,737,336 - 49,737,336 49,018,317 - 49,018,317 (Loss) earnings per share Basic and Diluted (0.03 ) (0.01 ) (0.04 ) 0.70 (0.05 ) 0.65 For the three months ended For the nine months ended As Adjustments As As Adjustments As Revenue from cryptocurrency mining 10,395,894 - 10,395,894 82,691,638 - 82,691,638 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown below) (2,607,945 ) - (2,607,945 ) (25,959,323 ) - (25,959,323 ) Depreciation and amortization expenses (3,796,672 ) - (3,796,672 ) (9,795,703 ) - (9,795,703 ) General and administrative expenses (19,545,639 ) - (19,545,639 ) (26,106,792 ) - (26,106,792 ) Realized gain on exchange of digital assets 129,935 1,286,681 1,416,616 7,082,587 12,774,303 19,856,890 Impairment of digital assets - (1,646,159 ) (1,646,159 ) (9,045,007 ) (15,946,675 ) (24,991,682 ) Total operating expenses (25,820,321 ) (359,478 ) (26,179,799 ) (63,824,238 ) (3,172,372 ) (66,996,610 ) (Loss) Income from Operations (15,424,427 ) (359,478 ) (15,783,905 ) 18,867,400 (3,172,372 ) 15,695,028 Gain from disposal of property and equipment (3,789,683 ) - (3,789,683 ) (3,746,247 ) - (3,746,247 ) Other income, net 3,854 - 3,854 499,564 - 499,564 Net (loss) income from continuing operations before income taxes (19,210,256 ) (359,478 ) (19,569,734 ) 15,620,717 (3,172,372 ) 12,448,345 Income tax expenses (938,578 ) - (938,578 ) (1,322,627 ) - (1,322,627 ) Net (loss) income (20,148,834 ) (359,478 ) (20,508,312 ) 14,298,090 (3,172,372 ) 11,125,718 Weighted average number of ordinary share outstanding Basic and Diluted 54,675,621 - 54,675,621 50,921,037 - 50,921,037 (Loss) earnings per share Basic and Diluted (0.37 ) (0.01 ) (0.38 ) 0.28 (0.06 ) 0.22
Schedule of restated condensed consolidated statements of cash flow (unaudited)	For the three months ended For the three months ended As Adjustments As restated As Adjustments As restated Cash Flows from Operating Activities: Net (loss) income (10,179,789 ) 5,847,162 (4,332,627 ) 35,786,324 (2,291,026 ) 33,495,298 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (10,179,789 ) 5,847,162 (4,332,627 ) 35,786,324 (2,291,026 ) 33,495,298 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 3,799,629 - 3,799,629 3,650,374 - 3,650,374 Gain from disposal of property and equipment (174,568 ) - (174,568 ) - - - Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 463,900 - 463,900 - - - Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining - (8,573,747 ) (8,573,747 ) - (43,953,050 ) (43,953,050 ) Realized gain on exchange of digital assets (1,637,023 ) (427,257 ) (2,064,280 ) - (13,294,684 ) (13,294,684 ) Impairment of digital assets 10,045,603 (5,419,905 ) 4,625,698 - 5,129,213 5,129,213 Deferred tax expenses (1,254,235 ) - (1,254,235 ) 30,223 - 30,223 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in operating assets and liabilities: Stable coins - 199,800 199,800 - - - Digital assets (8,573,730 ) 15,376,930 6,803,200 (53,646,868 ) 55,413,818 1,766,950 Other current assets (223,745 ) - (223,745 ) (1,336,681 ) - (1,336,681 ) Other noncurrent assets (590,652 ) - (590,652 ) - - - Accounts payable 1,420,280 - 1,420,280 12,757,378 - 12,757,378 Income tax payable (211,471 ) - (211,471 ) 251,919 - 251,919 Long-term income tax payable 69,182 - 69,182 - - - Other payables and accrued liabilities 856,218 17 856,235 (30,648 ) 762,679 732,031 Net Cash (Used in) Provided by Operating Activities (6,663,428 ) 7,003,000 339,572 (2,537,979 ) 1,766,950 (771,029 ) Cash Flows from Investing Activities: Purchases of property and equipment - - - (686,538 ) - (686,538 ) Deposits for property and equipment (11,052,500 ) - (11,052,500 ) - - - Proceeds from sales of cryptocurrencies 7,003,000 (7,003,000 ) - 1,766,950 (1,766,950 ) - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Net Cash Used in Investing Activities (4,109,195 ) (7,003,000 ) (11,112,195 ) 1,080,412 (1,766,950 ) (686,538 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Net Cash (Used in) Provided by Financing Activities (2,219,355 ) - (2,219,355 ) 1,280,000 - 1,280,000 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net decrease in cash, cash equivalents and restricted cash (12,991,978 ) - (12,991,978 ) (177,567 ) - (177,567 ) Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 29,406,550 - 29,406,550 227,566 - 227,566 For the six months ended For the six months ended As Adjustments As As Adjustments As Cash Flows from Operating Activities: Net (loss) income (28,304,521 ) 6,208,477 (22,096,044 ) 34,446,924 (2,812,894 ) 31,634,030 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (28,304,521 ) 6,208,477 (22,096,044 ) 34,446,924 (2,812,894 ) 31,634,030 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 9,121,749 - 9,121,749 5,999,031 - 5,999,031 Gain from disposal of property and equipment (1,454,896 ) - (1,454,896 ) (43,436 ) - (43,436 ) Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 1,057,313 - 1,057,313 509,794 - 509,794 Share based compensation expenses in connection with issuance of ordinary shares - - - 933,098 - 933,098 Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining - (15,388,747 ) (15,388,747 ) - (72,295,744 ) (72,295,744 ) Realized gain on exchange of digital assets (3,752,324 ) (513,592 ) (4,265,916 ) - (18,440,274 ) (18,440,274 ) Impairment of digital assets 23,684,989 (5,694,885 ) 17,990,104 9,045,007 14,300,516 23,345,523 Deferred tax expenses (404,291 ) - (404,291 ) 47,684 - 47,684 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in fair value of investment security - - - - - - Changes in operating assets and liabilities: Stable coins - 3,501,802 3,501,802 - - - Digital assets (15,388,743 ) 29,141,443 13,752,700 (78,531,704 ) 82,071,154 3,539,450 Other current assets (740,858 ) - (740,858 ) (1,750,324 ) - (1,750,324 ) Other noncurrent assets 601,710 - 601,710 - - - Accounts payable 697,185 - 697,185 22,985,200 - 22,985,200 Income tax payable (731,092 ) - (731,092 ) 211,365 - 211,365 Long-term income tax payable 138,364 - 138,364 - - - Other payables and accrued liabilities 682,095 - 682,095 1,325,382 716,692 2,042,074 Net Cash (Used in) Provided by Operating Activities (15,266,347 ) 17,254,498 1,988,151 (4,821,979 ) 3,539,450 (1,282,529 ) Cash Flows from Investing Activities: Purchases of property and equipment (19,310,398 ) - (19,310,398 ) (686,538 ) - (686,538 ) Deposits for property and equipment - - - - - - Proceeds from sales of property and equipment 958,060 - 958,060 - - - Proceeds from sales of cryptocurrencies 19,252,500 (19,252,500 ) - 3,539,450 (3,539,450 ) - Purchases of digital assets (1,998,002 ) 1,998,002 - - - - Proceeds from disposal of long-term investment 850,000 - 850,000 - - - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Investment in an equity security - - - - - - Net Cash (Used in) Provided by Investing Activities (307,535 ) (17,254,498 ) (17,562,033 ) 2,852,912 (3,539,450 ) (686,538 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of ordinary shares under private placements, net of issuance costs 21,010,000 - 21,010,000 - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Proceeds from issuance of ordinary shares under direct offering - - - 28,550,000 - 28,550,000 Repayment of borrowings to related parties - - - (12,000 ) - (12,000 ) Net Cash Provided by Financing Activities 18,790,645 - 18,790,645 29,818,000 - 29,818,000 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net increase in cash, cash equivalents and restricted cash 3,216,763 - 3,216,763 27,848,933 - 27,848,933 Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 45,615,291 - 45,615,291 28,254,066 - 28,254,066 For the nine months ended For the nine months ended As Adjustments As restated As Adjustments As restated Cash Flows from Operating Activities: Net (loss) income (42,642,629 ) 6,034,403 (36,608,226 ) 14,298,090 (3,172,372 ) 11,125,718 Less: Net loss from discontinued operations - - - - - - Net (loss) income from continuing operations (42,642,629 ) 6,034,403 (36,608,226 ) 14,298,090 (3,172,372 ) 11,125,718 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation of property and equipment 18,433,925 - 18,433,925 9,795,703 - 9,795,703 Gain from disposal of property and equipment (1,515,597 ) - (1,515,597 ) 3,746,247 - 3,746,247 Gain from sale of investment security (1,039,999 ) - (1,039,999 ) - - - Share-based compensation expenses with employees 1,673,948 - 1,673,948 16,576,615 - 16,576,615 Share based compensation expenses in connection with issuance of ordinary shares - - - 1,446,098 - 1,446,098 Liquidated damage expenses 619,355 - 619,355 - - - Digital assets generated from mining (24,543,543 ) - (24,543,543 ) - (82,691,638 ) (82,691,638 ) Realized gain on exchange of digital assets (4,801,434 ) (692,550 ) (5,493,984 ) - (19,856,890 ) (19,856,890 ) Impairment of digital assets 26,050,121 (5,341,853 ) 20,708,268 9,045,007 15,946,675 24,991,682 Deferred tax expenses (404,294 ) - (404,294 ) 703,924 - 703,924 Gain from divestiture of a subsidiary (52,383 ) - (52,383 ) - - - Changes in fair value of investment security (32,134 ) - (32,134 ) - - - Changes in operating assets and liabilities: Stable coins - 3,496,298 3,496,298 - (200,000 ) (200,000 ) Digital assets 19,252,500 (5,494,300 ) 13,758,200 (89,079,726 ) 92,619,176 3,539,450 Other current assets 1,719,544 - 1,719,544 (117,048 ) - (117,048 ) Other noncurrent assets (2,458,440 ) - (2,458,440 ) (6,844,416 ) - (6,844,416 ) Accounts payable 947,055 - 947,055 25,680,947 - 25,680,947 Income tax payable (645,828 ) - (645,828 ) 493,703 - 493,703 Long-term income tax payable 207,546 - 207,546 - - - Other payables and accrued liabilities 2,184,774 - 2,184,774 3,062,969 894,499 3,957,468 Net Cash Used in Operating Activities (7,047,513 ) (1,998,002 ) (9,045,515 ) (11,191,887 ) 3,539,450 (7,652,437 ) Cash Flows from Investing Activities: Purchases of property and equipment (19,285,625 ) - (19,285,625 ) (795,000 ) - (795,000 ) Deposits for property and equipment - - - - - - Proceeds from sales of property and equipment 1,081,075 - 1,081,075 - - - Proceeds from sales of cryptocurrencies - - - 3,539,450 (3,539,450 ) - Purchases of digital assets (1,998,002 ) 1,998,002 - - - - Proceeds from disposal of long-term investment 1,706,665 - 1,706,665 - - - Loss of cash in connection with divestiture of a subsidiary (59,695 ) - (59,695 ) - - - Investment in an equity security (2,000,000 ) - (2,000,000 ) - - - Net Cash Used in Investing Activities (20,555,582 ) 1,998,002 (18,557,580 ) 2,744,450 (3,539,450 ) (795,000 ) Cash Flows from Financing Activities: Payment of liquidated damages related to private placement transactions (2,219,355 ) - (2,219,355 ) - - - Proceeds from issuance of ordinary shares under private placements, net of issuance costs 21,010,000 - 21,010,000 - - - Proceeds from issuance of convertible notes, net of issuance costs - - - 1,280,000 - 1,280,000 Proceeds from issuance of ordinary shares under direct offering - - - 33,235,400 - 33,235,400 Repayment of borrowings to related parties - - - (12,000 ) - (12,000 ) Net Cash Provided by Financing Activities 18,790,645 - 18,790,645 34,503,400 - 34,503,400 Effect of exchange rate changes on cash and cash equivalents - - - - - - Net (decrease) increase in cash, cash equivalents and restricted cash (8,812,450 ) - (8,812,450 ) 26,055,963 - 26,055,963 Cash, cash equivalents and restricted cash at beginning of period 42,398,528 - 42,398,528 405,133 - 405,133 Cash, cash equivalents and restricted cash at end of period 33,586,078 - 33,586,078 26,461,096 - 26,461,096

Organization and Principal Ac_3

Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities	12 Months Ended
	Dec. 31, 2022
Bit Digital USA, Inc. [Member]
Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities [Line Items]
Name	Bit Digital USA, Inc. (“BT USA”)
Background	● A United States company ● Incorporated on September 1, 2020 ● Engaged in digital asset mining business
Ownership	100% owned by Bit Digital, Inc.
Bit Digital Canada, Inc. [Member]
Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities [Line Items]
Name	Bit Digital Canada, Inc. (“BT Canada”)
Background	● A Canadian company ● Incorporated on February 23, 2021 ● Engaged in digital asset mining business
Ownership	100% owned by Bit Digital, Inc.
Bit Digital Hong Kong Limited [Member]
Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities [Line Items]
Name	Bit Digital Hong Kong Limited (“BT HK”)
Background	● A Hong Kong company ● Acquired on April 8, 2020 ● Engaged in digital asset mining related business
Ownership	100% owned by Bit Digital, Inc.
Bit Digital Strategies Limited [Member]
Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities [Line Items]
Name	Bit Digital Strategies Limited (“BT Strategies”)
Background	● A Hong Kong company ● Incorporated on June 1, 2021 ● Engaged in treasury management activities
Ownership	100% owned by Bit Digital, Inc.
Bit Digital Singapore PTE. LTD. [Member]
Organization and Principal Activities (Details) - Schedule of consolidated financial statements reflect the activities [Line Items]
Name	Bit Digital Singapore PTE. LTD. (“BT Singapore”)
Background	● A Singapore company ● Incorporated on July 1, 2021 ● Engaged in digital asset staking activities
Ownership	100% owned by Bit Digital, Inc.

Restatement of Previously Iss_5

Restatement of Previously Issued Financial Statements (Details) - Schedule of consolidated balance sheet - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
As Previously Reported [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Digital assets	$ 23,337,430	$ 26,945,910	$ 43,899,644	$ 35,282,682	$ 35,020,251	$ 20,989,096	$ 29,361,599
Total current assets	68,384,982	78,428,201	78,274,719	96,561,290	64,625,647	59,610,022	34,498,100
Total assets	164,676,801	178,965,220	169,561,899	179,917,981	110,378,524	108,059,034	78,092,068
Accumulated deficit	(62,519,116)	(48,181,008)	(30,056,276)	(19,876,487)	(10,442,399)	18,746,435	20,085,835
Total shareholders’ equity	158,241,721	171,963,220	161,851,018	171,643,727	106,015,146	104,842,437	74,965,267	$ 37,999,575
Total liabilities and shareholders’ equity	164,676,801	178,965,220	169,561,899	179,917,981	110,378,524	108,059,034	78,092,068
Adjustment [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Digital assets	(208,518)	(11,389,504)	(16,164,693)	(6,242,921)	(14,738,663)	(3,336,525)	(2,876,997)
Total current assets	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Total assets	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Accumulated deficit	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Total shareholders’ equity	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)	(368,967)
Total liabilities and shareholders’ equity	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
As restated [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Digital assets	23,128,912	15,556,406	27,734,951	29,039,761	20,281,588	17,652,571	26,484,602
Total current assets	68,176,464	78,393,757	77,878,960	90,318,369	61,084,308	56,428,161	31,838,107
Total assets	164,468,283	178,930,776	169,166,140	173,675,060	106,837,185	104,877,173	75,432,075
Accumulated deficit	(62,727,634)	(48,215,452)	(30,452,035)	(26,119,408)	(13,983,738)	15,564,574	17,425,842
Total shareholders’ equity	158,033,203	171,928,776	161,455,259	165,400,806	102,473,807	101,660,576	72,305,274	$ 37,630,608
Total liabilities and shareholders’ equity	$ 164,468,283	$ 178,930,776	$ 169,166,140	$ 173,675,060	$ 106,837,185	$ 104,877,173	$ 75,432,075

Restatement of Previously Iss_6

Restatement of Previously Issued Financial Statements (Details) - Schedule of consolidated statement of operation - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
As Previously Reported [Member]
Condensed Income Statements, Captions [Line Items]
Realized gain on exchange of digital assets			$ 1,637,023				$ 3,752,324		$ 4,801,434		$ 7,738,557	$ 805,557
Impairment of digital assets	$ 2,365,132	$ 13,639,386	10,045,603		$ 9,045,007		23,684,989	9,045,007	26,050,121	9,045,007	(9,045,007)
Total operating expenses											(84,314,394)	(19,138,843)
Income from operations	$ (14,229,378)	$ (18,213,588)	(12,175,408)	$ (15,424,427)	$ (1,774,448)	36,066,275	(30,388,996)	34,291,827	(44,618,374)	18,867,400	11,764,176	1,926,270
Income before income taxes											8,720,343	1,924,346
Net income (loss) from continuing operations			$ 10,179,789			$ (35,786,324)	$ 28,304,521	$ (34,446,924)	$ 42,642,629	$ (14,298,090)	4,864,002	1,924,346
Net loss												(1,910,337)
Comprehensive loss												$ (1,810,152)
Net income (loss) and comprehensive income (loss)											$ 4,864,002
Weighted average number of ordinary share outstanding – diluted (in Shares)	54,675,621	49,737,336	69,627,314	54,675,621	49,737,336	48,291,310	74,695,686	49,018,317	77,296,373	50,921,037	57,529,895
Earnings (loss) per share – basic (in Dollars per share)	$ (0.26)	$ (0.36)	$ (0.15)	$ (0.37)	$ (0.03)	$ 0.74	$ (0.38)	$ 0.7	$ (0.55)	$ 0.28	$ 0.09	$ (0.06)
Earnings (loss) per share – diluted (in Dollars per share)											$ 0.08	$ (0.06)
Adjustment [Member]
Condensed Income Statements, Captions [Line Items]
Realized gain on exchange of digital assets			$ 427,257			$ 13,294,684	$ 513,592	$ 18,440,274	$ 692,550	$ 19,856,890	$ 13,074,610	$ 628,987
Impairment of digital assets	$ 353,032	$ (274,980)	(5,419,905)	$ 1,646,159	$ 9,171,303	5,129,213	(5,694,885)	14,300,516	(5,341,853)	15,946,675	(18,948,564)	(997,954)
Total operating expenses											(5,873,954)	(368,967)
Income from operations	$ (174,074)	$ 361,315	5,847,162	$ (359,478)	$ (521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	(5,873,954)	(368,967)
Income before income taxes											(5,873,954)	(368,967)
Net income (loss) from continuing operations			$ (5,847,162)			$ 2,291,026	$ (6,208,477)	$ 2,812,894	$ (6,034,403)	$ 3,172,372	(5,873,954)	(368,967)
Net loss												(368,967)
Comprehensive loss												$ (368,967)
Net income (loss) and comprehensive income (loss)											$ (5,873,954)
Weighted average number of ordinary share outstanding – diluted (in Shares)											(2,089,368)
Earnings (loss) per share – basic (in Dollars per share)	$ (0.01)		$ 0.09	$ (0.01)	$ (0.01)	$ (0.05)	$ 0.08	$ (0.05)	$ 0.08	$ (0.06)	$ (0.11)	$ (0.01)
Earnings (loss) per share – diluted (in Dollars per share)											$ (0.1)	$ (0.01)
As restated [Member]
Condensed Income Statements, Captions [Line Items]
Realized gain on exchange of digital assets			$ 2,064,280			$ 13,294,684	$ 4,265,916	$ 18,440,274	$ 5,493,984	$ 19,856,890	$ 20,813,167	$ 1,434,544
Impairment of digital assets	$ 2,718,164	$ 13,364,406	4,625,698	$ 1,646,159	$ 18,216,310	5,129,213	17,990,104	23,345,523	20,708,268	24,991,682	(27,993,571)	(997,954)
Total operating expenses											(90,188,348)	(19,507,810)
Income from operations	$ (14,403,452)	$ (17,852,273)	(6,328,246)	$ (15,783,905)	$ (2,296,316)	33,775,249	(24,180,519)	31,478,933	(38,583,971)	15,695,028	5,890,222	1,557,303
Income before income taxes											2,846,389	1,555,379
Net income (loss) from continuing operations			$ 4,332,627			$ (33,495,298)	$ 22,096,044	$ (31,634,030)	$ 36,608,226	$ (11,125,718)	(1,009,952)	1,555,379
Net loss												(2,279,304)
Comprehensive loss												$ (2,179,119)
Net income (loss) and comprehensive income (loss)											$ (1,009,952)
Weighted average number of ordinary share outstanding – diluted (in Shares)	54,675,621	49,737,336	69,627,314	54,675,621	49,737,336	48,291,310	74,695,686	49,018,317	77,296,373	50,921,037	55,440,527
Earnings (loss) per share – basic (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.06)	$ (0.38)	$ (0.04)	$ 0.69	$ (0.3)	$ 0.65	$ (0.47)	$ 0.22	$ (0.02)	$ (0.07)
Earnings (loss) per share – diluted (in Dollars per share)											$ (0.02)	$ (0.07)

Restatement of Previously Iss_7

Restatement of Previously Issued Financial Statements (Details) - Schedule of consolidated statement of stockholders’ equity - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
As Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ (14,338,108)	$ (18,124,732)	$ (10,179,789)	$ (20,148,834)	$ (1,339,400)	$ 35,786,324	$ (28,304,521)	$ 34,446,924	$ (42,642,629)	$ 14,298,090	$ 4,864,002	$ (1,910,337)
Balance	158,241,721	171,963,220	161,851,018	106,015,146	104,842,437	74,965,267	171,963,220	104,842,437	158,241,721	106,015,146	171,643,727	37,999,575
As Previously Reported [Member] | Accumulated deficit [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)											4,864,002	(1,910,337)
Balance											(19,876,487)	(15,700,489)
Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	(5,873,954)	(368,967)
Balance	(208,518)	(34,444)	(395,759)	(3,541,339)	(3,181,861)	(2,659,993)	(34,444)	(3,181,861)	(208,518)	(3,541,339)	(6,242,921)	(368,967)
Adjustment [Member] | Accumulated deficit [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)											(5,873,954)	(368,967)
Balance											(6,242,921)	(368,967)
As restated [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	(14,512,182)	(17,763,417)	(4,332,627)	(20,508,312)	(1,861,268)	33,495,298	(22,096,044)	31,634,030	(36,608,226)	11,125,718	(1,009,952)	(2,279,304)
Balance	$ 158,033,203	$ 171,928,776	$ 161,455,259	$ 102,473,807	$ 101,660,576	$ 72,305,274	$ 171,928,776	$ 101,660,576	$ 158,033,203	$ 102,473,807	165,400,806	37,630,608
As restated [Member] | Accumulated deficit [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)											(1,009,952)	(2,279,304)
Balance											$ (26,119,408)	$ (16,069,456)

Restatement of Previously Iss_8

Restatement of Previously Issued Financial Statements (Details) - Schedule of consolidated statement of cash flows - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
As Previously Reported [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	$ (14,338,108)	$ (18,124,732)	$ (10,179,789)	$ (20,148,834)	$ (1,339,400)	$ 35,786,324	$ (28,304,521)	$ 34,446,924	$ (42,642,629)	$ 14,298,090	$ 4,864,002	$ (1,910,337)
Net income (loss) from continuing operations			10,179,789			(35,786,324)	28,304,521	(34,446,924)	42,642,629	(14,298,090)	4,864,002	1,924,346
Digital assets generated from mining									24,543,543
Realized gain on exchange of digital assets
Impairment of digital assets											9,045,007
Digital assets and stable coins											(104,117,143)	(21,440,377)
Other payables and accrued liabilities											8,695,500	(207,803)
Net Cash Used in Operating Activities			(6,663,428)			(2,537,979)	(15,266,347)	(4,821,979)	(7,047,513)	(11,191,887)	(23,258,682)	(3,419,096)
Proceeds from sales of digital assets											5,906,790	2,447,406
Net Cash Used in Investing Activities			(4,109,195)			1,080,412	(307,535)	2,852,912	(20,555,582)	2,744,450	(40,934,430)	(2,046,759)
Adjustment [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	(5,873,954)	(368,967)
Net income (loss) from continuing operations			(5,847,162)			2,291,026	(6,208,477)	2,812,894	(6,034,403)	3,172,372	(5,873,954)	(368,967)
Digital assets generated from mining			8,573,747			43,953,050	15,388,747	72,295,744		82,691,638	(96,078,570)	(21,065,113)
Realized gain on exchange of digital assets											(20,813,167)	(1,434,544)
Impairment of digital assets											18,948,564	997,954
Digital assets and stable coins											109,823,933	24,297,004
Other payables and accrued liabilities											(100,016)	21,072
Net Cash Used in Operating Activities			7,003,000			1,766,950	17,254,498	3,539,450	(1,998,002)	3,539,450	5,906,790	2,447,406
Proceeds from sales of digital assets											(5,906,790)	(2,447,406)
Net Cash Used in Investing Activities			(7,003,000)			(1,766,950)	(17,254,498)	(3,539,450)	1,998,002	(3,539,450)	(5,906,790)	(2,447,406)
As Restated [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net income (loss)	$ (14,512,182)	$ (17,763,417)	(4,332,627)	$ (20,508,312)	$ (1,861,268)	33,495,298	(22,096,044)	31,634,030	(36,608,226)	11,125,718	(1,009,952)	(2,279,304)
Net income (loss) from continuing operations			4,332,627			(33,495,298)	22,096,044	(31,634,030)	36,608,226	(11,125,718)	(1,009,952)	1,555,379
Digital assets generated from mining			8,573,747			43,953,050	15,388,747	72,295,744	24,543,543	82,691,638	(96,078,570)	(21,065,113)
Realized gain on exchange of digital assets											(20,813,167)	(1,434,544)
Impairment of digital assets											27,993,571	997,954
Digital assets and stable coins											5,706,790	2,856,627
Other payables and accrued liabilities											8,595,484	(186,731)
Net Cash Used in Operating Activities			339,572			(771,029)	1,988,151	(1,282,529)	(9,045,515)	(7,652,437)	(17,351,892)	(971,690)
Proceeds from sales of digital assets
Net Cash Used in Investing Activities			$ (11,112,195)			$ (686,538)	$ (17,562,033)	$ (686,538)	$ (18,557,580)	$ (795,000)	$ (46,841,220)	$ (4,494,165)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Summary of Significant Accounting Policies [Abstract]
Digital asset miners with estimated useful lives	3 years
Native Staking [Member]
Summary of Significant Accounting Policies [Abstract]
Company generated revenues	$ 5,722
Liquid Staking [Member]
Summary of Significant Accounting Policies [Abstract]
Company generated revenues	$ 20,182

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of balance of deposits for property and equipment - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of the Balance of Deposits for Property and Equipment for the Years Ended [Abstract]
Opening balance	$ 43,094,881	$ 1,324,963
Ending balance	2,594,881	43,094,881
Reclassification to property and equipment	(40,500,000)	(1,199,913)
Addition of deposits for property and equipment		43,094,881
Write-off of deposit		$ (125,050)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues generated from digital asset mining business by countries - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues generated from digital asset mining business by countries [Line Items]
Total	$ 32,270,689	$ 96,078,570	$ 21,065,113
United States [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues generated from digital asset mining business by countries [Line Items]
Total	31,132,771	33,573,412	307,673
Canada [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues generated from digital asset mining business by countries [Line Items]
Total	1,137,918	640,554
Hong Kong [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues generated from digital asset mining business by countries [Line Items]
Total		$ 61,864,604	$ 20,757,440

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators [Line Items]
Total mining pool operators	$ 32,270,689	$ 96,078,570	$ 21,065,113
Foundry USA Pool [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators [Line Items]
Total mining pool operators	32,270,689	27,862,786
Huobi Pool [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators [Line Items]
Total mining pool operators		58,607,927	19,641,993
Antpool [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators [Line Items]
Total mining pool operators		9,607,857	347,981
Poolin [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by mining pool operators [Line Items]
Total mining pool operators			$ 1,075,139

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of company’s revenues by revenue streams - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue streams	$ 32,296,593	$ 96,078,570	$ 21,065,113
Digital Asset Mining [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue streams	32,270,689	96,078,570	21,065,113
ETH Native Staking [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue streams	5,722
ETH Liquid Staking [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenue streams	$ 20,182

USDC (Details) - Schedule of US

USDC (Details) - Schedule of USDC - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Usdc [Abstract]
USDC	$ 626,441	$ 15,829,464

USDC (Details) - Schedule of ad

USDC (Details) - Schedule of additional information about USDC - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Additional Information About Usdc [Abstract]
Opening balance	$ 15,829,464	$ 56,005
Collection of USDC from exchange of cash and other digital assets	1,998,002	18,201,257
Collection of USDC from private placement		1,179,368
Receipt of USDC from sales of property and equipment	712,800
Collection of deposits of miner sales and other fees	230,000
Refund of deposit on property and equipment		234,371
Collection from borrowings from a related party			$ 329,722
Sales of USDC in exchange of cash	(13,450,000)
Payment of USDC for transportation expenses	(2,426,065)
Payment of USDC for other expenses	(2,267,760)	(1,615,922)	(273,717)
Investment in an investment security		(1,000,000)
Purchases of miners		(895,893)
Repayment of borrowings from a related party		(329,722)
Ending balance	$ 626,441	$ 15,829,464	$ 56,005

Digital Assets (Details)

Digital Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Digital Assets [Abstract]
Impairment loss	$ 24,654,267
BTC	21,143,096
ETH	$ 3,511,171
Impairment of bitcoins		$ 27,993,571	$ 997,954
Impairment of against ETH		$ 27,869,847
Additional information about investment description	the Company has native staked 160 ETH and 96 ETH, respectively, on the Ethereum blockchain. The Company was not able to withdraw the stake until the Shanghai upgrade occurred on April 12, 2023. In addition, the Company staked 2,004 ETH in a liquid staking protocol with an unaffiliated third party and received receipt tokens which could be redeemed for ETH from the liquid staking provider or exchanged for cash via OTC. For the years ended December 31, 2022, the Company earned 19.9 ETH from such staking activities and recognized the ETH staking rewards as revenues.

Digital Assets (Details) - Sche

Digital Assets (Details) - Schedule of digital asset holdings - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Digital Assets (Details) - Schedule of digital asset holdings [Line Items]
Total		$ 27,587,328	$ 29,039,761
BTC [Member]
Digital Assets (Details) - Schedule of digital asset holdings [Line Items]
Total		15,796,147	28,846,587
ETH [Member]
Digital Assets (Details) - Schedule of digital asset holdings [Line Items]
Total	[1]	$ 11,791,181	$ 193,174
[1]The ETH ending balance as of December 31, 2022 includes 16.3 rETH-H earned from the liquid staking activity described below.

Digital Assets (Details) - Sc_2

Digital Assets (Details) - Schedule of additional information about BTC - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Additional Information About Btc Abstract
Opening balance		$ 28,846,587	$ 5,868,950
Ending balance		15,796,147	28,846,587	5,868,950
Opening balance		193,174
Ending balance		11,791,181	193,174
Receipt of BTC from mining services		31,414,102	96,078,586	21,065,113
Sales of BTC in exchange of cash		(9,837,211)	(16,973,380)	(2,138,159)
Sales of BTC in exchange of ETH		(12,160,450)
Payment of BTC for service charges from mining facilities		(1,199,380)	(14,443,484)	(11,049,584)
Payment of BTC as deposits for miners			(3,527,671)
Payment of BTC as deposits in hosting facilities			(9,292,646)	(900,563)
Payment of BTC for other expenses		(124,405)	(1,053,221)	(18,380)
Collection of BTC from a third party			59,300	(91,523)
Impairment of BTC		(21,143,096)	(27,869,847)	(997,954)
Receipt of ETH from exchange of BTC		14,368,964
Receipt of ETH from mining services		856,604
Receipt of ETH from native staking business		5,722
Receipt of ETH from liquid staking business	[1]	20,182
Other income in the form of ETH		23,834	27,326
Purchases of ETH			289,668
Payment of ETH for service charges from mining facilities		(173,473)
Collection (payment) of ETH for other income (expenses)		7,345	(96)
Impairment of ETH		$ (3,511,171)	$ (123,724)
[1]It represents 16.3 rETH-H earned from the liquid staking activity in 2022.

Other Current Assets (Details)

Other Current Assets (Details) - Schedule of other current assets - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Schedule Of Other Current Assets Abstract
Deposits	[1]	$ 400,000	$ 2,981,684
Prepaid marketing expenses		307,004
Prepaid director and officer insurance expenses		365,350
Prepaid consulting service expenses
Office rental deposit		36,343	41,793
Others		325,302	27,139
Total		$ 1,433,999	$ 3,050,616
[1] As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to one and two service providers, respectively, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due within 12 months from the effective date of the agreement.

Property and Equipment, Net (De

Property and Equipment, Net (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Property and Equipment, Net (Details) [Line Items]
Depreciation expenses	$ 27,829,730	$ 13,113,964	$ 3,342,655
Impairment amount	$ 24,654,267	$ 27,993,571	$ 997,954
sold to miners	1,115	15,808
Bitcoins total consideration	$ 1,816,870
Total original cost	571,681
Accumulated depreciation	276,610
Gain on sales of property and equipment	1,521,799
Total consideration	1,056,775	$ 9,441,561
Cost consideration	712,800
Disposed of miners		1,779
Three Third Party [Member]
Property and Equipment, Net (Details) [Line Items]
sold to miners		15,808
BTC [Member]
Property and Equipment, Net (Details) [Line Items]
Impairment amount	46,369,095
ETH [Member]
Property and Equipment, Net (Details) [Line Items]
Impairment amount	3,669,555
Ethereum [Member]
Property and Equipment, Net (Details) [Line Items]
Total consideration	168,500
15,808 Miners [Member]
Property and Equipment, Net (Details) [Line Items]
Gain on sales of property and equipment		$ 610,520
15,808 Miners [Member] | Maximum [Member]
Property and Equipment, Net (Details) [Line Items]
Accumulated depreciation		11,044,804
15,808 Miners [Member] | Minimum [Member]
Property and Equipment, Net (Details) [Line Items]
Accumulated depreciation		$ 2,213,763
1,779 Miners [Member]
Property and Equipment, Net (Details) [Line Items]
Disposed of miners		1,779
Incurred loss	$ 4,356,767
1,779 Miners [Member] | Maximum [Member]
Property and Equipment, Net (Details) [Line Items]
Accumulated depreciation		$ 5,307,790
1,779 Miners [Member] | Minimum [Member]
Property and Equipment, Net (Details) [Line Items]
Accumulated depreciation		$ 951,024

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (9,067,879)	$ (6,608,720)
Property and equipment, net	22,609,391	32,489,158
Miners for Bitcoins [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	32,006,128	33,268,859
Miners for ETH [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 211,142	$ 5,829,019

Investment Securities (Details)

Investment Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Aug. 01, 2022
Investment Securities [Abstract]
Investment amount		$ 1,000,000	$ 2
Investment for consideration		1,706,665
Gain of sale of investment		$ 1,039,999
Downward adjustments investment	$ 238,800
Downward adjustments	$ 306,612

Investment Securities (Detail_2

Investment Securities (Details) - Schedule of investment securities - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investment Securities [Abstract]
Investment in Digital Future Alliance Limited (“DFA”) (a)	$ 94,534	$ 1,000,000
Investment in Nine Blocks Offshore Feeder Fund (“Nine Blocks”) (b)	1,693,388
Total	$ 1,787,922	$ 1,000,000

Other Non-Current Assets (Detai

Other Non-Current Assets (Details) - Schedule of other noncurrent assets - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Schedule of Other Noncurrent Assets [Abstract]
Deposits	[1]	$ 8,965,160	$ 6,714,571
Others		68,040
Total		$ 9,033,200	$ 6,714,571
[1]As of December 31, 2022 and 2021, the balance of deposits represented the deposits made to service providers, who paid utility charges in mining facilities on behalf of the Company. The deposits are refundable upon expiration of the agreement between the Company and the service provider, which may be due 12 months from the effective date of the agreement.

Share-Based Compensation (Detai

Share-Based Compensation (Details)				1 Months Ended			12 Months Ended
	Jul. 02, 2022 $ / shares shares	Apr. 02, 2022 $ / shares shares	Oct. 13, 2021 shares	Oct. 28, 2022	Dec. 30, 2021 shares	Oct. 29, 2021 shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Apr. 30, 2022 USD ($) shares	Apr. 01, 2022 shares	Mar. 16, 2022 $ / shares shares	Oct. 30, 2021 shares	Jul. 31, 2021 shares	Jul. 29, 2021 shares	May 31, 2021 shares	Mar. 31, 2021 shares	Feb. 01, 2021 shares
Share-Based Compensation (Details) [Line Items]
Aggregate shares granted							2,415,293
Ordinary shares reserved							5,000,000
Share options							355,000
Shares granted	5,000		18,400		11,000	10,000				24,000	225,000	20,000		1,954,400		120,768	15,000
Shares immediately vested														1,920,000
Number of consultants			2	30,000			1
Restricted stock units						140,963
Number of employees	1				2
Unvested RSUs							221,368	2,247,617
Unrecognized compensation costs (in Dollars) | $							$ 4,873
Weighted average period							1 month 13 days
Share-based compensation expense (in Dollars) | $							$ 326,743	$ 20,461,318
Number of employees											3
Exercise price (in Dollars per share) | $ / shares	$ 1.36										$ 3.17
Unrecognized compensation cost (in Dollars) | $							595,812
Ordinary shares issued									245,098
Other share-based compensation expense (in Dollars) | $									$ 1,000,000
Ordinary shares issued													100,000		80,232
Share Based Compensation [Member]
Share-Based Compensation (Details) [Line Items]
Share-based compensation expense (in Dollars) | $							$ 1,446,098
Second Plan [Member]
Share-Based Compensation (Details) [Line Items]
Shares outstanding							65,000
2021 Second Plan [Member]
Share-Based Compensation (Details) [Line Items]
Shares granted	25,000	100,000
Number of consultants		1
Number of employees	1
Exercise price (in Dollars per share) | $ / shares	$ 1.36	$ 3.6
RSU [Member]
Share-Based Compensation (Details) [Line Items]
Unvested RSUs							11,308
RSU [Member]
Share-Based Compensation (Details) [Line Items]
Share-based compensation expense (in Dollars) | $							$ 1,935,948

Share-Based Compensation (Det_2

Share-Based Compensation (Details) - Schedule of RSUs relating to ordinary shares granted - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of RSUs Relating to Ordinary Shares Granted [Abstract]
Number of RSUs Awarded and unvested beginning balance	178,676
Weighted average grant date fair value Awarded and unvested beginning balance	$ 13.67
Number of RSUs Granted	54,000	2,426,293
Weighted average grant date fair value Granted	$ 2.26	$ 9.18
Number of RSUs Vested	(221,368)	(2,247,617)
Weighted average grant date fair value Vested	$ 12.43	$ 8.82
Number of RSUs Awarded and unvested ending balance	11,308	178,676
Weighted average grant date fair value Awarded and unvested ending balance	$ 15.02	$ 13.67
Number of RSUs Expected to vest	11,308
Weighted average grant date fair value Expected to vest	$ 15.02

Share-Based Compensation (Det_3

Share-Based Compensation (Details) - Schedule of share option - Weighted Average Remaining Contract Life (in years)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-Based Compensation (Details) - Schedule of share option [Line Items]
Number of Options outstanding beginning balance | shares
Weighted Average Grant Date Fair value Options outstanding beginning balance | $ / shares
Weighted Average Remaining Contract Life (in years) Options outstanding beginning balance
Number of Options outstanding ending balance | shares	333,125
Weighted Average Grant Date Fair value Options outstanding ending balance | $ / shares	$ 2.77
Weighted Average Remaining Contract Life (in years) ending balance	1 year 6 months 3 days
Number of Options Granted | shares	355,000
Weighted Average Grant Date Fair value Granted | $ / shares	$ 2.67
Weighted Average Remaining Contract Life (in years) Granted	2 years 3 months 10 days
Number of Options Forfeited | shares	(21,875)
Weighted Average Grant Date Fair value Forfeited | $ / shares	$ 1.13
Weighted Average Remaining Contract Life (in years) Forfeited
Number of Options Expired | shares
Weighted Average Grant Date Fair value Expired | $ / shares
Weighted Average Remaining Contract Life (in years) Expired
Number of Options Exercised | shares
Weighted Average Grant Date Fair value Exercised | $ / shares
Weighted Average Remaining Contract Life (in years) Exercised
Number of Options Vested and exercisable | shares	113,750
Weighted Average Grant Date Fair value Vested and exercisable | $ / shares	$ 2.72
Weighted Average Remaining Contract Life (in years) Vested and exercisable	1 year 5 months 8 days
Number of Options Vested and expected to vest | shares	333,125
Weighted Average Grant Date Fair value Vested and expected to vest | $ / shares	$ 2.77
Weighted Average Remaining Contract Life (in years) Vested and expected to vest	1 year 6 months 3 days

Share Capital (Details)

Share Capital (Details) - USD ($)			1 Months Ended		12 Months Ended
	Apr. 30, 2022	Oct. 04, 2021	May 12, 2022	Sep. 29, 2021	Dec. 31, 2022	Dec. 31, 2021
Share Capital [Abstract]
Finance gross proceeds (in Dollars)			$ 22,000,000
Company accrued liquidated damages (in Dollars)					$ 619,355	$ 4,800,000
Company paid liquidated damages (in Dollars)					2,219,355	3,200,000
Outstanding accrued liquidated damages (in Dollars)						$ 1,600,000
Common shares, issued					82,485,583	69,591,389
Common shares, outstanding					82,485,583	69,591,389
Ordinary shares issued	245,098
Fair value amount (in Dollars)	$ 1,000,000
Fair value purchase (in Dollars)	$ 5,600,000
Aggregate of ordinary share			10,990,327
Net proceeds (in Dollars)					$ 21
Preferred shares issued					1,000,000	1,000,000
Preferred shares outstanding					1,000,000	1,000,000
Preferred stock, voting rights description					The preference shares are entitled to the following preference features: 1) an annual dividend of 8% when and if declared by the Board of Directors; 2) a liquidation preference of $10.00 per share; 3) convert on a one for one basis for ordinary shares, subject to a 4.99% conversion limitation; 4) rank senior to ordinary shares in insolvency; and 5) solely for voting purposes vote 50 ordinary shares, for each preference share.
Purchase of aggregate ordinary share					14,472
Restricted stock vesting (in Dollars)					$ 76,820
Treasury stock (in Dollars)					$ 1,094,859	$ 1,171,679
Purchase an aggregate					10,118,046
Warrant [Member]
Share Capital [Abstract]
Exercise price per ordinary share. (in Dollars per share)					$ 7.91
Fair value of warrant (in Dollars)					$ 33,300,000
Ordinary Shares [Member]
Share Capital [Abstract]
Common shares, issued						69,591,389
Common shares, outstanding						69,591,389
Ordinary shares issued	1,487,473				161,768
Withheld shares					14,472
Preferred shares [Member]
Share Capital [Abstract]
Preferred shares issued					1,000,000	1,000,000
Preferred shares outstanding					1,000,000	1,000,000
Ordinary Shares [Member]
Share Capital [Abstract]
Gross proceeds, percentage		2%
Finance gross proceeds (in Dollars)		$ 1,600,000
Ordinary Shares [Member] | Warrant [Member]
Share Capital [Abstract]
Aggregate of securities (in Dollars)				$ 10,118,046
Ordinary shares, par value (in Dollars per share)				$ 5.93
Exercise price per ordinary share. (in Dollars per share)				$ 7.91
Ordinary Shares [Member] | Private Placement [Member]
Share Capital [Abstract]
Aggregate of securities (in Dollars)				$ 80,000,017
Ordinary shares				13,490,728
Ordinary shares, par value (in Dollars per share)				$ 0.01
2021 Second Plan [Member]
Share Capital [Abstract]
Ordinary shares issued					24,000
Purchase Agreement [Member]
Share Capital [Abstract]
Private placement warrants outstanding					10,118,046	10,118,046

Share Capital (Details) - Sched

Share Capital (Details) - Schedule of level 3 fair value measurements	Oct. 04, 2021 $ / shares
Schedule Of Level3 Fair Value Measurements Abstract
Volatility	192.85%
Stock price (in Dollars per share)	$ 7.59
Expected life of the warrants to convert	3 years 9 months 21 days
Risk free rate	0.97%
Dividend yield	0%

Income Taxes (Details)

Income Taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Income Taxes (Details) [Line Items]
Estimated percentage	4.84%	4.84%
Tax profit rate, percentage	8.25%	8.25%
Tax profit rate (in Dollars)		$ 2
Remaining tax rate, percentage	16.50%	16.50%
Current income tax expense	$ 192,940		$ 15,918
Current income tax liability due
Unrecognized tax benefits	3,044,004		2,767,276
Tax expense incremental penalty accrued	276,728
Tax expense uncertain tax position	$ 2,767,276		2,767,276
US federal tax rate	21%	21%
pre-tax losses	3 years	3 years
Unrecognized tax benefit	$ 276,728		2,767,275
Unrecognized tax benefits	12 months	12 months
HONG KONG [Member]
Income Taxes (Details) [Line Items]
Unrecognized tax benefits	$ 276,728		2,767,276
Singapore [Member]
Income Taxes (Details) [Line Items]
Income tax expenses	1,712,435
BT Strategies [Member]
Income Taxes (Details) [Line Items]
Income tax expenses	$ 3,547,902

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of incurred income tax - United States of America [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes (Details) - Schedule of incurred income tax [Line Items]
Federal income tax benefits (expenses)	$ 642,118	$ (738,851)
State income tax benefits (expenses)	301,410	(408,295)
Total	$ 943,528	$ (1,147,146)

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of canada federal and state income tax benefits - Canada [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes (Details) - Schedule of canada federal and state income tax benefits [Line Items]
Federal income tax (expenses) benefits	$ (37,879)	$ 37,879
State income tax (expenses) benefits	(20,202)	20,202
Total	$ (58,081)	$ 58,081

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of effective tax rate	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Effective Tax Rate [Abstract]
US Federal income tax rate	21%	21%	21%
Effect of foreign operations taxed at various rates	(5.50%)	6%	0%
State income taxes, net of federal benefit	0.50%	3%	0%
Reserve on Hong Kong offshore and share-based compensation tax benefits	(0.50%)	11.50%	0%
Excessive share-based compensation tax benefits	0%	(3.00%)	0%
Non-deductible executives compensation	0%	1.90%	0%
Non-deductible impairment on digital assets	(8.50%)	3.70%	0%
Withholding tax on intercompany interest payment	(0.20%)	0%	0%
Non-taxable capital gain on investments	8%	0%	0%
Others	0.20%	0.10%	0%
Effect of change in valuation allowance	(14.00%)	0%	(21.00%)
Total	1%	44.20%

Income Taxes (Details) - Sche_4

Income Taxes (Details) - Schedule of deferred tax assets and liabilities - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating losses carryforwards	$ 8,357,549	$ 4,775,905
Share-based compensation	610,298	609,933
Deferred tax liabilities:
Depreciation	(3,855,914)	(5,696,982)
Net deferred tax assets/(liabilities):	8,923,957	(311,144)
Less: valuation allowance	(8,923,957)	(93,147)
Net deferred tax assets/(liabilities) after valuation allowance		$ (404,291)

Income Taxes (Details) - Sche_5

Income Taxes (Details) - Schedule of reconciliation of gross unrecognized tax benefits - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Reconciliation Of Gross Unrecognized Tax Benefits Abstract
Unrecognized tax benefits at the beginning of the year	$ 2,767,276
Unrecognized tax benefits at the end of the year	3,044,004	2,767,276
Increases for tax positions taken in current year		2,767,276
Increases for tax positions taken in prior years	$ 276,728

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of loss per share - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of loss per share [Abstract]
Net loss	$ (105,296,603)	$ (1,009,952)	$ (2,279,304)
Weighted average number of ordinary share outstanding
Basic	78,614,174	55,440,527	30,591,122
Diluted	78,614,174	55,440,527	30,591,122
Loss per share
Basic	$ (1.34)	$ (0.02)	$ (0.07)
Diluted	$ (1.34)	$ (0.02)	$ (0.07)

Employee Benefit Plans (Details

Employee Benefit Plans (Details)	Apr. 01, 2022
Employee Benefit Plans [Abstract]
Percentage of employee’s contributions	100%
Percentage of employee’s eligible earnings	4%

Related Parties (Details)

Related Parties (Details) - USD ($)	May 26, 2021	Mar. 21, 2022	Dec. 31, 2021
Related Parties (Details) [Line Items]
Exchange of shares description	Under the SEA, Geney exchanged 1,000,000 ordinary shares for 1,000,000 Preference Shares.
Preference share vote, description	Each Preference Share provides for: (i) an eight (8%) percent annual dividend when and if declared by the Board; (ii) a liquidation preference of $10 per share (an aggregate of $10 million) senior to ordinary shares; (iii) converts on a one-for-one basis, subject to a 4.99% blocker; and (iv) fifty (50) votes per Preference Share in order for management to carry out its intended business plan.
Settled amount		$ 500,000
Geney Development Limited [Member]
Related Parties (Details) [Line Items]
Owned percentage	70%
Erke Huang [Member]
Related Parties (Details) [Line Items]
Owned percentage	30%
Erke Huang [Member]
Related Parties (Details) [Line Items]
Borrowed funds			$ 329,722
USDC [Member]
Related Parties (Details) [Line Items]
Repaid balance			$ 7,000

Contingencies (Details)

Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contingencies [Abstract]
Settlement paying amount	$ 2,100,000
Accrued litigation settlement cost	$ 2,100,000

Disposition of Golden Bull USA

Disposition of Golden Bull USA (Details) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 16, 2022	Dec. 31, 2022
Disposition of Golden Bull USA [Abstract]
Consideration amount		$ 10
Total assets	$ 72,196
Total liabilities	124,569
Negative net assets	$ 52,373
Percentage of absolute value	0.03%
Other income net			$ 52,383

Disposition of Point Cattle (De

Disposition of Point Cattle (Details)	Sep. 08, 2020 USD ($)
Disposition of Point Cattle [Abstract]
Nominal value	$ 10

Disposition of Point Cattle (_2

Disposition of Point Cattle (Details) - Schedule of net loss from discontinued operations - Discontinued Operations [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Discontinued Operations
Turnover
Operating expenses
Other income, net
Income tax expenses
Impairment of net assets			(3,734,498)
Net gain from discontinued operations			(100,185)
Net loss from discontinued operations			$ (3,834,683)

Restatement of Previously Iss_9

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated balance sheets (unaudited ) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Previously Reported [Member]
Current Assets
Cash and cash equivalents	$ 32,266,078	$ 44,295,291	$ 28,086,550		$ 26,461,096	$ 28,254,066	$ 227,566
Restricted cash	1,320,000	1,320,000	1,320,000
Stable coins	9,058,567
Digital assets	23,337,430	26,945,910	43,899,644	$ 35,282,682	35,020,251	20,989,096	29,361,599
Income tax receivable	86,104	171,362
Other current assets	2,316,803	5,695,638	4,968,525		3,144,300	10,366,860	4,908,935
Total Current Assets	68,384,982	78,428,201	78,274,719	96,561,290	64,625,647	59,610,022	34,498,100
Investment security	2,365,468	333,334	333,334		1,000,000	1,000,000	1,000,000
Deposits for plant and equipment	4,094,881	4,094,881	54,147,381		7,930,061	11,495,450	14,400,272
Property and equipment, net	80,658,459	89,995,943	28,651,298		29,978,400	35,953,562	28,193,696
Deferred tax assets			849,944
Other noncurrent assets	9,173,011	6,112,861	7,305,223		6,844,416
Total Assets	164,676,801	178,965,220	169,561,899	179,917,981	110,378,524	108,059,034	78,092,068
Current Liabilities
Accounts payable	2,111,433	1,944,502	3,537,633		3,011,122	2,455,694	1,396,773
Due to related parties							7,000
Income tax payable			348,253		493,703	211,365	251,919
Convertible notes							1,280,000
Other payables and accrued liabilities	1,348,825	2,151,858	988,537		154,629	501,854	160,886
Total Current Liabilities	3,460,258	4,096,360	4,874,423		3,659,454	3,168,913	3,096,578
Deferred tax liabilities					703,924	47,684	30,223
Long-term income tax payable	2,974,822	2,905,640	2,836,458
Total Liabilities	$ 6,435,080	$ 7,002,000	$ 7,710,881		$ 4,363,378	$ 3,216,597	$ 3,126,801
Shareholders’ Equity
Preferred shares (in Shares)	9,050,000	9,050,000	9,050,000		9,050,000
Common shares	$ 824,371	$ 824,057	$ 696,293		$ 558,174	$ 539,063	$ 483,059
Treasury shares	(1,171,534)	(1,171,679)	(1,171,679)
Additional paid-in capital	212,058,000	211,441,850	183,332,680		106,849,371	85,556,939	54,396,373
Accumulated deficit	(62,519,116)	(48,181,008)	(30,056,276)	(19,876,487)	(10,442,399)	18,746,435	20,085,835
Total Shareholders’ Equity	158,241,721	171,963,220	161,851,018	171,643,727	106,015,146	104,842,437	74,965,267	$ 37,999,575
Total Liabilities and Equity	164,676,801	178,965,220	169,561,899	179,917,981	110,378,524	108,059,034	78,092,068
Revision of Prior Period, Adjustment [Member]
Current Assets
Cash and cash equivalents
Restricted cash
Stable coins		11,355,060	15,768,934		11,197,324	154,664	217,004
Digital assets	(208,518)	(11,389,504)	(16,164,693)	(6,242,921)	(14,738,663)	(3,336,525)	(2,876,997)
Income tax receivable
Other current assets
Total Current Assets	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Investment security
Deposits for plant and equipment
Property and equipment, net
Deferred tax assets
Other noncurrent assets
Total Assets	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Current Liabilities
Accounts payable
Due to related parties
Income tax payable
Convertible notes
Other payables and accrued liabilities
Total Current Liabilities
Deferred tax liabilities
Long-term income tax payable
Total Liabilities
Shareholders’ Equity
Preferred shares (in Shares)
Common shares
Treasury shares
Additional paid-in capital
Accumulated deficit	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
Total Shareholders’ Equity	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)	(368,967)
Total Liabilities and Equity	(208,518)	(34,444)	(395,759)	(6,242,921)	(3,541,339)	(3,181,861)	(2,659,993)
As restated [Member]
Current Assets
Cash and cash equivalents	32,266,078	44,295,291	28,086,550		26,461,096	28,254,066	227,566
Restricted cash	1,320,000	1,320,000	1,320,000
Stable coins	9,058,567	11,355,060	15,768,934		11,197,324	154,664	217,004
Digital assets	23,128,912	15,556,406	27,734,951	29,039,761	20,281,588	17,652,571	26,484,602
Income tax receivable	86,104	171,362
Other current assets	2,316,803	5,695,638	4,968,525		3,144,300	10,366,860	4,908,935
Total Current Assets	68,176,464	78,393,757	77,878,960	90,318,369	61,084,308	56,428,161	31,838,107
Investment security	2,365,468	333,334	333,334		1,000,000	1,000,000	1,000,000
Deposits for plant and equipment	4,094,881	4,094,881	54,147,381		7,930,061	11,495,450	14,400,272
Property and equipment, net	80,658,459	89,995,943	28,651,298		29,978,400	35,953,562	28,193,696
Deferred tax assets			849,944
Other noncurrent assets	9,173,011	6,112,861	7,305,223		6,844,416
Total Assets	164,468,283	178,930,776	169,166,140	173,675,060	106,837,185	104,877,173	75,432,075
Current Liabilities
Accounts payable	2,111,433	1,944,502	3,537,633		3,011,122	2,455,694	1,396,773
Due to related parties							7,000
Income tax payable			348,253		493,703	211,365	251,919
Convertible notes							1,280,000
Other payables and accrued liabilities	1,348,825	2,151,858	988,537		154,629	501,854	160,886
Total Current Liabilities	3,460,258	4,096,360	4,874,423		3,659,454	3,168,913	3,096,578
Deferred tax liabilities					703,924	47,684	30,223
Long-term income tax payable	2,974,822	2,905,640	2,836,458
Total Liabilities	$ 6,435,080	$ 7,002,000	$ 7,710,881		$ 4,363,378	$ 3,216,597	$ 3,126,801
Shareholders’ Equity
Preferred shares (in Shares)	9,050,000	9,050,000	9,050,000		9,050,000
Common shares	$ 824,371	$ 824,057	$ 696,293		$ 558,174	$ 539,063	$ 483,059
Treasury shares	(1,171,534)	(1,171,679)	(1,171,679)
Additional paid-in capital	212,058,000	211,441,850	183,332,680		106,849,371	85,556,939	54,396,373
Accumulated deficit	(62,727,634)	(48,215,452)	(30,452,035)	(26,119,408)	(13,983,738)	15,564,574	17,425,842
Total Shareholders’ Equity	158,033,203	171,928,776	161,455,259	165,400,806	102,473,807	101,660,576	72,305,274	$ 37,630,608
Total Liabilities and Equity	$ 164,468,283	$ 178,930,776	$ 169,166,140	$ 173,675,060	$ 106,837,185	$ 104,877,173	$ 75,432,075

Restatement of Previously Is_10

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of operations (unaudited) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Previously Reported [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of operations (unaudited) [Line Items]
Revenue from cryptocurrency mining	$ 9,130,961	$ 6,815,000	$ 8,573,747	$ 10,395,894	$ 28,342,694	$ 43,953,050	$ 15,388,747	$ 72,295,744	$ 24,519,708	$ 82,691,638
Cost of revenues (exclusive of depreciation and amortization shown below)	(6,500,483)	(3,584,145)	(4,268,251)	(2,607,945)	(10,883,650)	(12,467,728)	(7,852,396)	(23,351,378)	(14,352,879)	(25,959,323)
Depreciation and amortization expenses	(9,312,176)	(5,322,120)	(3,799,629)	(3,796,672)	(2,348,657)	(3,650,374)	(9,121,749)	(5,999,031)	(18,433,925)	(9,795,703)
General and administrative expenses	(6,231,658)	(4,598,238)	(4,272,695)	(19,545,639)	(4,335,983)	(2,225,170)	(8,870,933)	(6,561,153)	(15,102,591)	(26,106,792)
Realized gain on exchange of digital assets	1,049,110	2,115,301	1,637,023	129,935	(3,503,845)	10,456,497	3,752,324	6,952,652	4,801,434	7,082,587
Impairment of digital assets	(2,365,132)	(13,639,386)	(10,045,603)		(9,045,007)		(23,684,989)	(9,045,007)	(26,050,121)	(9,045,007)	$ 9,045,007
Total operating expenses	(23,360,339)	(25,028,588)	(20,749,155)	(25,820,321)	(30,117,142)	(7,886,775)	(45,777,743)	(38,003,917)	(69,138,082)	(63,824,238)
Loss from Operations	(14,229,378)	(18,213,588)	(12,175,408)	(15,424,427)	(1,774,448)	36,066,275	(30,388,996)	34,291,827	(44,618,374)	18,867,400	11,764,176	1,926,270
Gain from disposal of property and equipment	60,701	1,280,328	174,568	(3,789,683)	43,436		1,454,896	43,436	1,515,597	(3,746,247)
Gain from sale of investment security			1,039,999				1,039,999		1,039,999
Other income (expense), net	26,098	(20,179)	(570,890)	3,854	493,519	2,191	(591,069)	495,710	(564,971)	499,564
Net loss from continuing operations before income taxes	(14,142,579)	(16,953,439)	(11,531,731)	(19,210,256)	(1,237,493)	36,068,466	(28,485,170)	34,830,973	(42,627,749)	15,620,717
Income tax expenses	(195,529)	(1,171,293)	1,351,942	(938,578)	(101,907)	(282,142)	180,649	(384,049)	(14,880)	(1,322,627)
Net (loss) income	$ (14,338,108)	$ (18,124,732)	$ (10,179,789)	$ (20,148,834)	$ (1,339,400)	$ 35,786,324	$ (28,304,521)	$ 34,446,924	$ (42,642,629)	$ 14,298,090	$ 4,864,002	$ (1,910,337)
Basic and Diluted (in Shares)	54,675,621	49,737,336	69,627,314	54,675,621	49,737,336	48,291,310	74,695,686	49,018,317	77,296,373	50,921,037	57,529,895
Basic and Diluted (in Dollars per share)	$ (0.26)	$ (0.36)	$ (0.15)	$ (0.37)	$ (0.03)	$ 0.74	$ (0.38)	$ 0.7	$ (0.55)	$ 0.28	$ 0.09	$ (0.06)
Revision of Prior Period, Adjustment [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of operations (unaudited) [Line Items]
Revenue from cryptocurrency mining
Cost of revenues (exclusive of depreciation and amortization shown below)
Depreciation and amortization expenses
General and administrative expenses
Realized gain on exchange of digital assets	178,958	86,335	427,257	1,286,681	8,649,435	2,838,187	513,592	11,487,622	692,550	12,774,303
Impairment of digital assets	(353,032)	274,980	5,419,905	(1,646,159)	(9,171,303)	(5,129,213)	5,694,885	(14,300,516)	5,341,853	(15,946,675)	$ 18,948,564	$ 997,954
Total operating expenses	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)
Loss from Operations	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	(5,873,954)	(368,967)
Gain from disposal of property and equipment
Gain from sale of investment security
Other income (expense), net
Net loss from continuing operations before income taxes	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)
Income tax expenses
Net (loss) income	$ (174,074)	$ 361,315	$ 5,847,162	$ (359,478)	$ (521,868)	$ (2,291,026)	$ 6,208,477	$ (2,812,894)	$ 6,034,403	$ (3,172,372)	$ (5,873,954)	$ (368,967)
Basic and Diluted (in Shares)											(2,089,368)
Basic and Diluted (in Dollars per share)	$ (0.01)		$ 0.09	$ (0.01)	$ (0.01)	$ (0.05)	$ 0.08	$ (0.05)	$ 0.08	$ (0.06)	$ (0.11)	$ (0.01)
As restated [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of operations (unaudited) [Line Items]
Revenue from cryptocurrency mining	$ 9,130,961	$ 6,815,000	$ 8,573,747	$ 10,395,894	$ 28,342,694	$ 43,953,050	$ 15,388,747	$ 72,295,744	$ 24,519,708	$ 82,691,638
Cost of revenues (exclusive of depreciation and amortization shown below)	(6,500,483)	(3,584,145)	(4,268,251)	(2,607,945)	(10,883,650)	(12,467,728)	(7,852,396)	(23,351,378)	(14,352,879)	(25,959,323)
Depreciation and amortization expenses	(9,312,176)	(5,322,120)	(3,799,629)	(3,796,672)	(2,348,657)	(3,650,374)	(9,121,749)	(5,999,031)	(18,433,925)	(9,795,703)
General and administrative expenses	(6,231,658)	(4,598,238)	(4,272,695)	(19,545,639)	(4,335,983)	(2,225,170)	(8,870,933)	(6,561,153)	(15,102,591)	(26,106,792)
Realized gain on exchange of digital assets	1,228,068	2,201,636	2,064,280	1,416,616	5,145,590	13,294,684	4,265,916	18,440,274	5,493,984	19,856,890
Impairment of digital assets	(2,718,164)	(13,364,406)	(4,625,698)	(1,646,159)	(18,216,310)	(5,129,213)	(17,990,104)	(23,345,523)	(20,708,268)	(24,991,682)	$ 27,993,571	$ 997,954
Total operating expenses	(23,534,413)	(24,667,273)	(14,901,993)	(26,179,799)	(30,639,010)	(10,177,801)	(39,569,266)	(40,816,811)	(63,103,679)	(66,996,610)
Loss from Operations	(14,403,452)	(17,852,273)	(6,328,246)	(15,783,905)	(2,296,316)	33,775,249	(24,180,519)	31,478,933	(38,583,971)	15,695,028	5,890,222	1,557,303
Gain from disposal of property and equipment	60,701	1,280,328	174,568	(3,789,683)	43,436		1,454,896	43,436	1,515,597	(3,746,247)
Gain from sale of investment security			1,039,999				1,039,999		1,039,999
Other income (expense), net	26,098	(20,179)	(570,890)	3,854	493,519	2,191	(591,069)	495,710	(564,971)	499,564
Net loss from continuing operations before income taxes	(14,316,653)	(16,592,124)	(5,684,569)	(19,569,734)	(1,759,361)	33,777,440	(22,276,693)	32,018,079	(36,593,346)	12,448,345
Income tax expenses	(195,529)	(1,171,293)	1,351,942	(938,578)	(101,907)	(282,142)	180,649	(384,049)	(14,880)	(1,322,627)
Net (loss) income	$ (14,512,182)	$ (17,763,417)	$ (4,332,627)	$ (20,508,312)	$ (1,861,268)	$ 33,495,298	$ (22,096,044)	$ 31,634,030	$ (36,608,226)	$ 11,125,718	$ (1,009,952)	$ (2,279,304)
Basic and Diluted (in Shares)	54,675,621	49,737,336	69,627,314	54,675,621	49,737,336	48,291,310	74,695,686	49,018,317	77,296,373	50,921,037	55,440,527
Basic and Diluted (in Dollars per share)	$ (0.27)	$ (0.36)	$ (0.06)	$ (0.38)	$ (0.04)	$ 0.69	$ (0.3)	$ 0.65	$ (0.47)	$ 0.22	$ (0.02)	$ (0.07)

Restatement of Previously Is_11

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of cash flow (unaudited) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Previously Reported [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of cash flow (unaudited) [Line Items]
Net (loss) income	$ (14,338,108)	$ (18,124,732)	$ (10,179,789)	$ (20,148,834)	$ (1,339,400)	$ 35,786,324	$ (28,304,521)	$ 34,446,924	$ (42,642,629)	$ 14,298,090	$ 4,864,002	$ (1,910,337)
Less: Net loss from discontinued operations
Net loss from continuing operations			(10,179,789)			35,786,324	(28,304,521)	34,446,924	(42,642,629)	14,298,090	(4,864,002)	(1,924,346)
Depreciation of property and equipment			3,799,629			3,650,374	9,121,749	5,999,031	18,433,925	9,795,703
Gain from disposal of property and equipment			(174,568)				(1,454,896)	(43,436)	(1,515,597)	3,746,247
Gain from sale of investment security			(1,039,999)				(1,039,999)		(1,039,999)
Share-based compensation expenses with employees			463,900				1,057,313	509,794	1,673,948	16,576,615
Liquidation damage expenses			619,355				619,355		619,355
Digital assets generated from mining									(24,543,543)
Realized gain on exchange of digital assets			(1,637,023)				(3,752,324)		(4,801,434)		(7,738,557)	(805,557)
Impairment of digital assets			10,045,603				23,684,989	9,045,007	26,050,121	9,045,007
Deferred tax expenses			(1,254,235)			30,223	(404,291)	47,684	(404,294)	703,924
Gain from divestiture of a subsidiary			(52,383)				(52,383)		(52,383)
Stable coins
Digital assets			(8,573,730)			(53,646,868)	(15,388,743)	(78,531,704)	19,252,500	(89,079,726)
Other current assets			(223,745)			(1,336,681)	(740,858)	(1,750,324)	1,719,544	(117,048)
Other noncurrent assets			(590,652)				601,710		(2,458,440)	(6,844,416)
Accounts payable			1,420,280			12,757,378	697,185	22,985,200	947,055	25,680,947
Income tax payable			(211,471)			251,919	(731,092)	211,365	(645,828)	493,703
Long-term income tax payable			69,182				138,364		207,546
Other payables and accrued liabilities			856,218			(30,648)	682,095	1,325,382	2,184,774	3,062,969
Net Cash Used in Operating Activities			(6,663,428)			(2,537,979)	(15,266,347)	(4,821,979)	(7,047,513)	(11,191,887)	(23,258,682)	(3,419,096)
Cash Flows from Investing Activities:
Proceeds from sales of property and equipment							958,060		1,081,075
Purchases of digital assets							(1,998,002)		(1,998,002)
Proceeds from disposal of long-term investment							850,000		1,706,665
Investment in an equity security									(2,000,000)
Purchases of property and equipment						(686,538)	(19,310,398)	(686,538)	(19,285,625)	(795,000)
Deposits for property and equipment			(11,052,500)
Proceeds from sales of cryptocurrencies			7,003,000			1,766,950	19,252,500	3,539,450		3,539,450
Loss of cash in connection with divestiture of a subsidiary			(59,695)				(59,695)		(59,695)
Net Cash Used in Investing Activities			(4,109,195)			1,080,412	(307,535)	2,852,912	(20,555,582)	2,744,450	(40,934,430)	(2,046,759)
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares under private placements, net of issuance costs							21,010,000		21,010,000
Proceeds from issuance of ordinary shares under direct offering								28,550,000		33,235,400
Repayment of borrowings to related parties								(12,000)		(12,000)
Payment of liquidated damages related to private placement transactions			(2,219,355)				(2,219,355)		(2,219,355)
Proceeds from issuance of convertible notes, net of issuance costs						1,280,000		1,280,000		1,280,000
Net Cash Provided by Financing Activities			(2,219,355)			1,280,000	18,790,645	29,818,000	18,790,645	34,503,400
Net increase (decrease) in cash, cash equivalents and restricted cash			(12,991,978)			(177,567)	3,216,763	27,848,933	(8,812,450)	26,055,963
Cash, cash equivalents and restricted cash at beginning of period	45,615,291	29,406,550	42,398,528	28,254,066	227,566	405,133	42,398,528	405,133	42,398,528	405,133	405,133
Cash, cash equivalents and restricted cash at end of period	33,586,078	45,615,291	29,406,550	26,461,096	28,254,066	227,566	45,615,291	28,254,066	33,586,078	26,461,096	42,398,528	405,133
Cash Flows from Operating Activities:
Share based compensation expenses in connection with issuance of ordinary shares								933,098		1,446,098
Changes in fair value of investment security									(32,134)
Revision of Prior Period, Adjustment [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of cash flow (unaudited) [Line Items]
Net (loss) income	(174,074)	361,315	5,847,162	(359,478)	(521,868)	(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	(5,873,954)	(368,967)
Less: Net loss from discontinued operations
Net loss from continuing operations			5,847,162			(2,291,026)	6,208,477	(2,812,894)	6,034,403	(3,172,372)	5,873,954	368,967
Depreciation of property and equipment
Gain from disposal of property and equipment
Gain from sale of investment security
Share-based compensation expenses with employees
Liquidation damage expenses
Digital assets generated from mining			(8,573,747)			(43,953,050)	(15,388,747)	(72,295,744)		(82,691,638)	96,078,570	21,065,113
Realized gain on exchange of digital assets			(427,257)			(13,294,684)	(513,592)	(18,440,274)	(692,550)	(19,856,890)	(13,074,610)	(628,987)
Impairment of digital assets			(5,419,905)			5,129,213	(5,694,885)	14,300,516	(5,341,853)	15,946,675
Deferred tax expenses
Gain from divestiture of a subsidiary
Stable coins			199,800				3,501,802		3,496,298	(200,000)
Digital assets			15,376,930			55,413,818	29,141,443	82,071,154	(5,494,300)	92,619,176
Other current assets
Other noncurrent assets
Accounts payable
Income tax payable
Long-term income tax payable
Other payables and accrued liabilities			17			762,679		716,692		894,499
Net Cash Used in Operating Activities			7,003,000			1,766,950	17,254,498	3,539,450	(1,998,002)	3,539,450	5,906,790	2,447,406
Cash Flows from Investing Activities:
Proceeds from sales of property and equipment
Purchases of digital assets							1,998,002		1,998,002
Proceeds from disposal of long-term investment
Investment in an equity security
Purchases of property and equipment
Deposits for property and equipment
Proceeds from sales of cryptocurrencies			(7,003,000)			(1,766,950)	(19,252,500)	(3,539,450)		(3,539,450)
Loss of cash in connection with divestiture of a subsidiary
Net Cash Used in Investing Activities			(7,003,000)			(1,766,950)	(17,254,498)	(3,539,450)	1,998,002	(3,539,450)	(5,906,790)	(2,447,406)
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares under private placements, net of issuance costs
Proceeds from issuance of ordinary shares under direct offering
Repayment of borrowings to related parties
Payment of liquidated damages related to private placement transactions
Proceeds from issuance of convertible notes, net of issuance costs
Net Cash Provided by Financing Activities
Net increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period
Cash, cash equivalents and restricted cash at end of period
Cash Flows from Operating Activities:
Share based compensation expenses in connection with issuance of ordinary shares
Changes in fair value of investment security
As restated [Member]
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements (Details) - Schedule of restated condensed consolidated statements of cash flow (unaudited) [Line Items]
Net (loss) income	(14,512,182)	(17,763,417)	(4,332,627)	(20,508,312)	(1,861,268)	33,495,298	(22,096,044)	31,634,030	(36,608,226)	11,125,718	(1,009,952)	(2,279,304)
Less: Net loss from discontinued operations
Net loss from continuing operations			(4,332,627)			33,495,298	(22,096,044)	31,634,030	(36,608,226)	11,125,718	1,009,952	(1,555,379)
Depreciation of property and equipment			3,799,629			3,650,374	9,121,749	5,999,031	18,433,925	9,795,703
Gain from disposal of property and equipment			(174,568)				(1,454,896)	(43,436)	(1,515,597)	3,746,247
Gain from sale of investment security			(1,039,999)				(1,039,999)		(1,039,999)
Share-based compensation expenses with employees			463,900				1,057,313	509,794	1,673,948	16,576,615
Liquidation damage expenses			619,355				619,355		619,355
Digital assets generated from mining			(8,573,747)			(43,953,050)	(15,388,747)	(72,295,744)	(24,543,543)	(82,691,638)	96,078,570	21,065,113
Realized gain on exchange of digital assets			(2,064,280)			(13,294,684)	(4,265,916)	(18,440,274)	(5,493,984)	(19,856,890)	(20,813,167)	(1,434,544)
Impairment of digital assets			4,625,698			5,129,213	17,990,104	23,345,523	20,708,268	24,991,682
Deferred tax expenses			(1,254,235)			30,223	(404,291)	47,684	(404,294)	703,924
Gain from divestiture of a subsidiary			(52,383)				(52,383)		(52,383)
Stable coins			199,800				3,501,802		3,496,298	(200,000)
Digital assets			6,803,200			1,766,950	13,752,700	3,539,450	13,758,200	3,539,450
Other current assets			(223,745)			(1,336,681)	(740,858)	(1,750,324)	1,719,544	(117,048)
Other noncurrent assets			(590,652)				601,710		(2,458,440)	(6,844,416)
Accounts payable			1,420,280			12,757,378	697,185	22,985,200	947,055	25,680,947
Income tax payable			(211,471)			251,919	(731,092)	211,365	(645,828)	493,703
Long-term income tax payable			69,182				138,364		207,546
Other payables and accrued liabilities			856,235			732,031	682,095	2,042,074	2,184,774	3,957,468
Net Cash Used in Operating Activities			339,572			(771,029)	1,988,151	(1,282,529)	(9,045,515)	(7,652,437)	(17,351,892)	(971,690)
Cash Flows from Investing Activities:
Proceeds from sales of property and equipment							958,060		1,081,075
Purchases of digital assets
Proceeds from disposal of long-term investment							850,000		1,706,665
Investment in an equity security									(2,000,000)
Purchases of property and equipment						(686,538)	(19,310,398)	(686,538)	(19,285,625)	(795,000)
Deposits for property and equipment			(11,052,500)
Proceeds from sales of cryptocurrencies
Loss of cash in connection with divestiture of a subsidiary			(59,695)				(59,695)		(59,695)
Net Cash Used in Investing Activities			(11,112,195)			(686,538)	(17,562,033)	(686,538)	(18,557,580)	(795,000)	(46,841,220)	(4,494,165)
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares under private placements, net of issuance costs							21,010,000		21,010,000
Proceeds from issuance of ordinary shares under direct offering								28,550,000		33,235,400
Repayment of borrowings to related parties								(12,000)		(12,000)
Payment of liquidated damages related to private placement transactions			(2,219,355)				(2,219,355)		(2,219,355)
Proceeds from issuance of convertible notes, net of issuance costs						1,280,000		1,280,000		1,280,000
Net Cash Provided by Financing Activities			(2,219,355)			1,280,000	18,790,645	29,818,000	18,790,645	34,503,400
Net increase (decrease) in cash, cash equivalents and restricted cash			(12,991,978)			(177,567)	3,216,763	27,848,933	(8,812,450)	26,055,963
Cash, cash equivalents and restricted cash at beginning of period	45,615,291	29,406,550	42,398,528	28,254,066	227,566	405,133	42,398,528	405,133	42,398,528	405,133	405,133
Cash, cash equivalents and restricted cash at end of period	$ 33,586,078	$ 45,615,291	$ 29,406,550	$ 26,461,096	$ 28,254,066	$ 227,566	45,615,291	28,254,066	33,586,078	26,461,096	$ 42,398,528	$ 405,133
Cash Flows from Operating Activities:
Share based compensation expenses in connection with issuance of ordinary shares								933,098		1,446,098
Changes in fair value of investment security									$ (32,134)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	Feb. 07, 2023	Mar. 03, 2023	Feb. 24, 2023
Subsequent Events (Details) [Line Items]
Dividend rate	8%
Dividend (in Dollars)	$ 800,000
Investment amount (in Dollars)			$ 2,000,000
Chief Financial Officer [Member] | Ownership [Member]
Subsequent Events (Details) [Line Items]
Ownership percentage	30%
Zhao Hui Deng [Member] | Ownership [Member]
Subsequent Events (Details) [Line Items]
Ownership percentage	70%
SDP [Member]
Subsequent Events (Details) [Line Items]
Pursuant to shareholders agreement, percenatge		60%
Bit Digital Singapore [Member]
Subsequent Events (Details) [Line Items]
Pursuant to shareholders agreement, percenatge		40%