Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 107

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 107
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 completely registered public accounting firms headquartered in mainland
China and in Hong Kong because of the positions taken by authorities in mainland China and Hong Kong. The PCAOB issued a Determination
Report on December 15, 2022, determining that the PCAOB secured complete access to inspect and investigate registered public accounting
firms headquartered in mainland China and Hong Kong, and vacating the 2021 Determinations to the contrary. However, the PCAOB further
noted that it will act immediately to consider the need to issue a new determination if the PRC authorities obstruct or otherwise fail
to facilitate the PCAOB’s access. While the audit report of Audit Alliance LLP included in this report was prepared by auditors
based in Singapore who are subject to inspection and investigation by the PCAOB, there can be no assurance that our auditor or we will
be able to comply with these and other requirements imposed by U.S. regulators in the future. The market prices of our Ordinary Shares
and/or other securities could be adversely affected as a result of possible negative impacts of the HFCA Act and other similar rules and
regulations.

Our Hong Kong subsidiaries could become subject to certain PRC laws if such laws are applied to Hong Kong.

The national laws of the PRC, including, but not
limited to the Cybersecurity Review Measures that became effective on February 15, 2022, do not currently apply to our Hong Kong subsidiaries,
except for those listed in the Basic Law of Hong Kong. However, due to changes in laws, regulations or policies, including how those laws,
regulations or policies would be interpreted or implemented, and the national laws applicable in Hong Kong, the Basic Law might be revised
in the future and our Hong Kong subsidiaries may be subject to certain PRC laws.

<div align='center'>58</div>

Pursuant to Article 18 of the Basic Law of the
Hong Kong Special Administrative Region of the PRC (the “Basic Law”), the laws in force in the Hong Kong Special Administrative
Region shall be the Basic Law, the laws previously in force in Hong Kong as provided for in Article 8 of this Law, and the laws enacted
by the legislature of the Region. National laws shall not be applied in the Hong Kong Special Administrative Region except for those listed
in Annex III to the Basic Law. The laws listed therein shall be applied locally by way of promulgation or legislation by the Region. Also,
regarding the Annex III and several Instruments of the Basic Law, National Laws