Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 45

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 45
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 debt has been repaid in full from such assets. The notes will rank structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries. We advise you that there may not be sufficient assets remaining to pay amounts due on any or all the notes then outstanding.

As of June 30, 2025, we had no indebtedness. As of June 30, 2025, our subsidiaries had an aggregate principal amount of approximately $70.3 million of other liabilities (including trade payables, but excluding intercompany obligations, deferred revenue and deferred tax liabilities) to which the notes would have been structurally subordinated. As of June 30, 2025, after giving effect to the issuance of the notes (assuming no exercise of the underwriters’ over-allotment option), the outstanding principal amount of our total consolidated indebtedness for borrowed money would have been $100 million.

<div align='center'>S-26

Conversion Rights</div>

General

Holders may convert all or any portion of their notes at their option at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date.

The conversion rate for the
notes will initially be 240.3846 ordinary shares per $1,000 principal amount of notes (equivalent to an initial conversion price of $4.16
per share). Upon conversion of a note, we will satisfy our conversion obligation by paying or delivering, as the case may be, cash, ordinary
shares or a combination of cash and ordinary shares, at our election, all as set forth below under “—Settlement upon Conversion.”
If we satisfy our conversion obligation solely in cash or through payment and delivery, as the case may be, of a combination of cash and
ordinary shares, the amount of cash and ordinary shares, if any, due upon conversion will be based on a daily conversion value (as defined
below) calculated on a proportionate basis for each trading day in a 30 trading day observation period (as defined below under “—Settlement
upon Conversion”). The trustee will initially act as the conversion agent.

A holder may convert fewer than all of such holder’s notes so long as the notes converted are an integral multiple of $1,000 principal amount.

Upon conversion of your notes, you will not receive any separate cash payment for accrued and unpaid interest, if any, except as described below. Our payment and delivery, as the case may be, to you upon conversion of the cash,