Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 125

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 125
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2) original actions brought against us or other persons predicated upon the Securities Act. There is also uncertainty with
regard to Cayman Islands law relating to whether a judgment obtained from the U.S. courts under civil liability provisions of the securities
laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. A Cayman Islands Court may stay enforcement
proceedings if concurrent proceedings are being brought elsewhere.

As a result of all of
the above, our shareholders may have more difficulty in protecting their interests through actions against us or our officers, directors
or major shareholders than would shareholders of a corporation incorporated in a jurisdiction in the United States.

You may experience difficulties in effecting service of legal process and enforcing judgments against us and our management, and the ability of U.S. authorities to bring actions abroad.

Currently, a substantial
portion of our operations and personnel are located outside the United States, in Canada and Iceland. All but one member of our Board
of Directors are nationals or residents of jurisdictions other than the United States, and a substantial portion, if not all, of their
assets are located outside the United States. As a result, it may be difficult for a shareholder to effect service of process within the
United States upon these persons, or to enforce against us or them judgments obtained in U.S. courts, including judgments predicated upon
the civil liability provisions of the securities laws of the United States or any state in the United States. Foreign countries may have
no arrangement for the reciprocal enforcement of judgments with the United States. As a result, recognition and enforcement in a foreign
country of judgments of a court in the United States and any of the other jurisdictions in relation to any matter not subject to a binding
arbitration provision may be difficult or impossible. Even if you sue successfully in a U.S. court or any other jurisdictions, you may
not be able to collect on such judgment against us or our directors and officers. In addition, the SEC, the U.S. Department of Justice
and other U.S. authorities may also have difficulties in bringing and enforcing actions against us or our directors or officers outside
the United States.

Potential of Our Being Classified as a Passive Foreign Investment Company

Generally, if for any
taxable year 75% or more of the Company’s gross income is passive income, or at least 50% of the average quarterly value of the
Company’s assets are held for the production of, or produce, passive income, the Company