Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 61

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 61
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<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 price of the ordinary shares on the trading day immediately preceding the ex-dividend date for such dividend or distribution; and |
| C   | = | the amount in cash per ordinary share we distribute to all or substantially all holders of the ordinary shares.                                          |

Any increase made under this
clause (4) shall become effective immediately after the open of business on the ex-dividend date for such dividend or distribution. To
the extent such dividend or distribution is not so paid, 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 distribution, to be the conversion rate that would then
be in effect had the adjustment been made on the basis of only the dividend or distribution, if any, actually made or paid.

Notwithstanding the foregoing,
if “C” (as defined above) is equal to or greater than “SP” (as defined above), in lieu of the foregoing
increase, each holder of a note shall receive, for each $1,000 principal amount of notes, at the same time and upon the same terms as
holders of the ordinary shares, the amount of cash that such holder would have received if such holder owned a number of ordinary shares
equal to the conversion rate on the ex-dividend date for the ordinary shares for such cash dividend or distribution.

| 5. | If we or any of our subsidiaries make a payment in respect of a tender or exchange offer for the ordinary                                     
 shares that is subject to the then applicable tender offer rules under the Exchange Act (other than any odd lot tender offer), to the         
 extent that the cash and value of any other consideration included in the payment per ordinary share exceeds the average of the last reported 
 sale prices of the ordinary shares over the 10 consecutive trading day period commencing on, and including, the trading day next succeeding   
 the date