Company: BTBT
Filing Date: 2025-10-02
Form Type: 8-K
Source: 0001213900-25-095533
Chunk: 3

Company: Bit Digital, Inc
Filing Date: 2025-10-02
Form: 8-K
Item: Item 1.01
Chunk 3
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 to convert the Notes in accordance with the indenture                              

  failure by the Company to give a fundamental change notice or notice of a make-whole fundamental change                                

  failure by the Company to comply with its obligations under the Indenture in respect of certain merger,  

  failure by the Company for 60 days after written notice from the Trustee or by the Trustee at the request                                      

  default by the Company or any of its “significant subsidiaries,” with respect to any mortgage,                                              

  certain events of bankruptcy, insolvency, or reorganization of the Company or any of its significant subsidiaries.  

If an event of default (other than an event of default involving certain
events of bankruptcy, insolvency or reorganization of the Company or any of its significant subsidiaries) occurs and is continuing, the
Trustee by written notice to the Company may, or the holders of at least 25% in principal amount of the outstanding Notes by notice to
the Company and the Trustee may, and the Trustee at the request of such holders accompanied by security and/or indemnity satisfactory
to the Trustee and otherwise subject to the limitations set forth in the Indenture shall, declare 100% of the principal of and accrued
and unpaid interest on all the outstanding Notes to be due and payable. In case of certain events of bankruptcy, insolvency or reorganization
involving the Company or any of its significant subsidiaries, 100% of the principal of and accrued and unpaid interest on the Notes will
automatically become due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company elects, the
sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture
will, for the first 365 days after the occurrence of such an event of default, consist exclusively of the right of holders to receive
additional interest on the Notes.

The Indenture provides that the Company shall not consolidate with
or merge with or into, or sell, convey, transfer or lease all or substantially all of the Company’s properties and assets to another
person (other than any such sale, conveyance, transfer or lease to one or more of the Company’s direct or indirect wholly owned
subsidiaries) unless: (1) the resulting, surviving or transferee person (if not the Company) is a “qualified successor entity”
(as defined in the Indenture) (such qualified