Company: BTBT
Filing Date: 2025-04-30
Form Type: S-3
Source: 0001213900-25-037166
Chunk: 68

Company: Bit Digital, Inc
Filing Date: 2025-04-30
Form: S-3
Chunk 68
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 years, and (B) the risk factor titled “If we are classified as a passive foreign investment company (“PFIC”) U.S. taxpayers who own our ordinary shares may have adverse United States federal income tax consequences” has been modified to the extent that Management has obtained a third party analysis for 2024 and does not believe that Bit Digital should be classified as a PFIC for 2024. If any of the risks or uncertainties described in our SEC filings actually occurs, our business, financial condition, results of operations or cash flow could be materially and adversely affected. This could cause the trading price of our ordinary shares to decline, resulting in a loss of all or part of your investment. The risks and uncertainties we have described are not the only ones facing our company. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business operations.

Risks Associated with this Offering

You will suffer immediate and substantial dilution in the net tangible book value per share of the ordinary shares that you purchase in this offering.

The ordinary shares sold in this offering, if
any, will be sold from time to time at various prices; however, the assumed public offering price of our ordinary shares is higher than
the as adjusted net tangible book value per ordinary share. Therefore, investors purchasing shares of ordinary shares in this offering
will pay a price per ordinary share that substantially exceeds the as adjusted net tangible book value per share after this offering.
Assuming that an aggregate of 284,090,909 ordinary shares are sold at an assumed public offering price of $1.76 per share, the last reported
sale price of our ordinary shares on the Nasdaq Capital Market on April 22, 2025, for aggregate gross proceeds of approximately $500 million,
and after deducting commissions and estimated offering expenses payable by us, new investors in this offering will experience immediate
dilution of $0.13 per ordinary share, representing the difference between the assumed public offering price and our as adjusted net tangible
book value per ordinary share after giving effect to this offering. See “Dilution” for a more detailed discussion of the dilution
you would incur if you purchase ordinary shares in this offering.

We have broad discretion in the use of the net proceeds of this offering and may not use them effectively.

We intend to use the net proceeds from this offering
for working capital and general corporate purposes, including, but not limited to, the purchase of computer miners. However, our management
will have