Company: BTBT
Filing Date: 2025-08-08
Form Type: 8-K
Source: 0001213900-25-073702
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Company: Bit Digital, Inc
Filing Date: 2025-08-08
Form: 8-K
Item: Item 8.01
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Item 8.01      Other Events.  

Initial Public Offering

On August 8, 2025, WhiteFiber, Inc. (“ WhiteFiber”),
a subsidiary of Bit Digital, Inc. (the “ Company”), completed its initial public offering (the “ Offering”) of 9,375,000
ordinary shares, at a public offering price of $17.00 per share. All ordinary shares in the Offering were sold by WhiteFiber. The gross
proceeds to WhiteFiber from the Offering were $159,375,000, before deducting underwriting discounts and commissions and offering expenses
payable by WhiteFiber.

Prior to the consummation of the Offering, the
Company held all of the issued and outstanding ordinary shares of WhiteFiber. After giving effect to the Offering, the Company holds approximately
74.3% of the issued and outstanding ordinary shares of WhiteFiber.

WhiteFiber granted a 30-day option to the
underwriters of the Offering to purchase up to 1,406,250 additional WhiteFiber ordinary shares. If the underwriters exercise this
option in full, the Company will hold approximately 71.5% of the issued and outstanding ordinary shares of WhiteFiber

Contribution Agreement

Prior to the consummation of the Offering, the Company
entered into a contribution agreement (the “ Contribution Agreement”) with WhiteFiber, pursuant to which the Company contributed
its HPC business through the transfer of 100% of the capital shares of its cloud services subsidiary, WhiteFiber AI, Inc. and its wholly-owned
subsidiaries WhiteFiber HPC, Inc., WhiteFiber Canada, Inc., WhiteFiber Japan G. K. and WhiteFiber Iceland, ehf, to WhiteFiber in exchange
for 27,043,749 ordinary shares of WhiteFiber (the “ Contribution”). The Contribution became effective on August 6, 2025, when
the registration statement on Form S-1, as amended (File No. No. 333-288650) (the “ Registration Statement”), of WhiteFiber
was declared effective by the Securities and Exchange Commission.

Pursuant to the Contribution the following actions
occurred:

  assets (whether tangible or intangible) primarily related to, or included on the balance sheet of, WhiteFiber and its combined subsidiaries,  

  o       customer, distribution, supply and vendor contracts (or portions thereof) to the extent they