Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 68

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 68
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 change is composed
entirely of cash, for any conversion of notes following the effective date of such make-whole fundamental change, the conversion obligation
will be calculated based solely on the “ordinary share price” (as defined below) for the transaction and will be deemed to
be an amount of cash per $1,000 principal amount of converted notes equal to the conversion rate (including any increase as described
in this section), multiplied by such ordinary share price. In such event, the conversion obligation will be determined
and paid to holders in cash on the second business day following the conversion date.

The number of additional ordinary
shares, if any, by which the conversion rate will be increased will be determined by reference to the table below, based on the date on
which the make-whole fundamental change occurs or becomes effective (the “effective date”) and the price (the “ordinary
share price”) paid (or deemed to be paid) per ordinary shares in the make-whole fundamental change. If the holders of the ordinary
shares receive in exchange for their ordinary shares only cash in a make-whole fundamental change described in clause (2) of the definition
of fundamental change, the ordinary share price shall be the cash amount paid per ordinary share. Otherwise, the ordinary share price
shall be the average of the last reported sale prices of the ordinary shares over the five consecutive trading day period ending on, and
including, the trading day immediately preceding the effective date of the make-whole fundamental change.

The ordinary share prices
set forth in the column headings of the table below will be adjusted as of any date on which the conversion rate of the notes is otherwise
adjusted. The adjusted ordinary share prices will equal the ordinary share prices immediately prior to such adjustment, multiplied by
a fraction, the numerator of which is the conversion rate immediately prior to the adjustment giving rise to the ordinary share price
adjustment and the denominator of which is the conversion rate as so adjusted. The number of additional ordinary shares will be adjusted
in the same manner and at the same time as the conversion rate as set forth under “— Conversion Rate Adjustments.”

<div align='center'>S-40</div>

The following table sets forth
the number of additional ordinary shares by which the conversion rate will be increased per $1,000 principal amount of the notes for each
ordinary share price and effective date set forth below:

|                      |     | Ordinary Share price |   |     |   |     |   |     |   |