Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 59

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 59
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 reference to the definition of last reported sale price set forth under “—Optional Redemption” as if references therein to the ordinary shares were to such capital stock or similar equity interest) over the first 10 consecutive trading day period after, and including, the ex-dividend date of the spin-off (the “valuation period”); and |
| MP0  | = | the average of the last reported sale prices of the ordinary shares over the valuation period.                                                                                                                                                                                                                                                                                                                                                                                                                                             |

The increase to the conversion
rate under the preceding paragraph will occur at the close of business on the last trading day of the valuation period; provided that
(x) in respect of any conversion of notes for which physical settlement is applicable, if the relevant conversion date occurs during the
valuation period, the reference to “10” in the preceding paragraph shall be deemed replaced with such lesser number of trading
days as have elapsed from, and including, the ex-dividend date for such spin-off to, and including, such conversion date in determining
the conversion rate and (y) in respect of any conversion of notes for which cash settlement or combination settlement is applicable, for
any trading day that falls within the relevant observation period for such conversion and within the valuation period, the reference to
“10” in the preceding paragraph shall be deemed replaced with such lesser number of trading days as have elapsed from, and
including, the ex-dividend date for such spin-off to, and including, such trading day in determining the conversion rate as of such trading
day. If the dividend or other distribution constituting the spin-off is declared but not so paid or made, the conversion rate shall be
decreased, effective as of the date our board of directors or a committee thereof determines not to make or pay such dividend or other
distribution, to the conversation rate that would be in effect if such dividend or distribution had not been declared or announced.

<div align='center'>S-35</div>

| 4. | If any cash dividend or distribution is made to all or substantially all holders of the ordinary shares, 
 the conversion rate will be adjusted based on the following formula:                                     |

where,

| CR0 | = | the conversion rate in effect immediately prior to the open of business on the ex-dividend date for such dividend or distribution;                       |
| CR1 | = | the conversion rate in effect immediately after the open of business on such ex-dividend date for such dividend or distribution;                         |
| SP0 | = | the last reported sale