Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 105

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 105
---
 uncertainties exist as to the interpretation or implementation of the Measures, if the Measures require
us to obtain clearance or permissions from the CAC, we would file an application with CAC and seek to obtain the clearance or permissions
from the CAC as required, however there can be no assurance we will obtain clearance or permission which could adversely affect our business.
Compliance with the Measures, as well as additional laws, regulations and guidelines that the Chinese government promulgates in the future,
may entail significant expenses and could materially affect our business.

United States regulators may be limited in their ability to conduct investigations or inspections of our operations in Hong Kong.

The increased regulatory scrutiny of U.S.-listed
companies with operations in China could add uncertainties to our business operations, share price and reputation. Although the audit
reports of Audit Alliance LLP incorporated by reference into this report are prepared by our auditors in Singapore who are subject to
inspection by the Public Company Accounting Overnight Board (the “PCAOB”), there is no guarantee that future audit reports
will be prepared by auditors that are completely inspected by the PCAOB and, as such, future investors may be deprived of the benefit
of such complete inspections, which could result in limitations or restrictions on our ability to access the U.S. capital markets. Furthermore,
trading in our securities may be prohibited under the Holding Foreign Companies Accountable Act (the “HFCA Act”) or the Accelerating
Holding Foreign Companies Accountable Act if the SEC subsequently determines our audit work is performed by auditors that the PCAOB is
unable to inspect or investigate completely, and as a result, U.S. national securities exchanges, such as Nasdaq or the over-the-counter
market, may determine to delist our securities.

U.S. public companies that have or had a substantial
portion of their operations in China have been the subject of heightened scrutiny, criticism and negative publicity by investors, financial
commentators and regulatory agencies, such as the SEC. Much of the scrutiny, criticism and negative publicity has centered on financial
and accounting irregularities and mistakes, a lack of effective internal controls over financial accounting, inadequate corporate government
policies or a lack of adherence thereto and, in many cases, allegations of fraud.

<div align='center'>57</div>

As part of increased regulatory focus in the United
States on access to audit information, the United States enacted the Holding Foreign Companies Accountable Act, or the HFCA Act, in December
2020. The HFCA Act includes requirements