Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 856

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 856
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 2024, the Company entered into a one-year service agreement
with a consultant by, in relation to this agreement, granted the 300,000 RSUs, all of which vested immediately. Over the duration of the
service agreement, the Company will recognize share-based compensation expenses aggregating $1.2 million based upon the closing price
of the Company’s common stock on date of agreement.

In December 2024, the Company entered into a one-year service agreement
with a consultant by, in relation to this agreement, granted the firm 8,000 RSUs, all of which vested immediately. Over the duration of
the service agreement, the Company will recognize share-based compensation expenses aggregating $26,640 based upon the closing price of
the Company’s common stock on date of agreement.

F-35

13. SHARE CAPITAL

Ordinary shares

As of December 31, 2023, there were 107,421,813
ordinary shares issued and 107,291,827 ordinary shares outstanding.

During the year ended December 31, 2024, 4,581,750
ordinary shares were issued to the Company’s employees, non-executive directors, and consulting firms in settlement of an equal
number of fully vested restricted stock units awarded to such individuals and companies by the Company pursuant to grants made under the
Company’s 2021 Second Plan and 2023 Plan.

On October 11, 2024, the Company issued exchangeable
shares amounted to $4,840,710 for the acquisition of Enovum Data Centers Corp. Please refer to Note 4. Acquisitions for further
information.

In December 2024, an employee exercised 5,000 options to purchase the
Company’s ordinary shares, with an aggregate exercise price of $15,850 and 5,000 ordinary shares were issued.

In May of 2022, the Company entered into an at-the-market
offering with H.C. Wainwright & Co., LLC relating to shares of its common stock. In accordance with the terms of the sales agreement,
the Company may offer and sell shares of our common stock having an aggregate offering price of up to $500,000,000. During the year ended
December 31, 2024, the Company sold 67,246,628 shares of common stock for an aggregate purchase price of $242.9 million net of offering
costs pursuant to this at-the-market offering.

As of December 31,