Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 122

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 122
---
 of the Board and Chief Financial Officer provide for a preferential eight (8%)
percent ($800,000) annual dividend when and if declared by the Board. On February 7, 2023, December 8, 2023, and December 20, 2024, the
Board of Directors declared eight (8%) percent dividends on the preference shares to Geney Development Ltd., an entity beneficially owned
by the Company’s Chairman and Chief Financial Officer for the years ended December 31, 2022, 2023, and 2024. We currently plan to
retain any future earnings to cover operating costs and otherwise fund the growth of our business. We cannot assure you that we would,
at any time, generate sufficient surplus cash that would be available for distribution to the holders of our Ordinary Shares as a dividend.
As a result, capital appreciation, if any, of our Ordinary Shares will be the sole source of gain for the foreseeable future. There is
no guarantee that our Ordinary Shares will appreciate in value or even maintain the price at which a shareholder purchased such shareholder’s
shares.

We may be unable to comply with the applicable continued listing requirements of the Nasdaq Capital Market, which may adversely impact our access to capital markets and may cause us to default under certain of our agreements.

Our Ordinary Shares are
currently traded on the Nasdaq Capital Market. Nasdaq rules require us to maintain a minimum closing bid price of $1.00 per Ordinary Share.
There can be no assurance we will continue to meet the minimum bid price requirements or any other Nasdaq requirements in the future,
in which case our Ordinary Shares could be delisted.

In the event that our
Ordinary Shares are delisted from Nasdaq and are not eligible for quotation or listing on another market or exchange, trading of our Ordinary
Shares could be conducted only on the over-the-counter market or on an electronic bulletin board established for unlisted securities,
such as the OTC. In such event, it could become more difficult to dispose of, or obtain accurate price quotations for, our Ordinary Shares,
and there would likely also be a reduction in our coverage by securities analysts and the news media, which could cause the price of our
Ordinary Shares to decline further. In addition, our ability to raise additional capital may be severely impacted if our shares are delisted
from Nasdaq, which may negatively affect our business plans and the results of our operations.

If securities or industry analysts do not publish research or publish unfavorable research about our