Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 119

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 119
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.The
holders of our preference shares are entitled to receive, when, if and as paid or declared by the Directors, out of assets legally available
therefor, prior and in preference to any declaration or payment of any dividend on our ordinary shares, dividends at the annual rate of
eight percent (8%) of the original purchase price per preference share, as adjusted for any share combinations or subdivisions, bonus
issues and similar recapitalization events ("Recapitalization Events"). The right to dividends on preference shares is not cumulative,
and no right accrues to holders of preference shares by reason of the fact that dividends on said shares are not declared in any period,
nor shall any undeclared or unpaid dividend bear or accrue interest.

Liquidation / Insolvency Preference. On a liquidation of the Company, the holder of any preference shares shall have the right to receive in preference to
the holders of the ordinary shares, the greater of (A) the original purchase price of that preference share (adjusted for any Recapitalization
Events) plus any declared but unpaid dividends thereon, but with no right to share in the distribution of any surplus assets of the Company,
or (B) that amount that such preference share would have received had it been converted into an ordinary share pursuant to the conversion
provisions in our Articles (as summarized below) on the day immediately prior to the date on which the Company entered liquidation. On
an insolvency, liquidation or winding up of the Company, the holder of our preference shares shall be repaid in priority to the holders
of our ordinary shares.

Conversion. Subject
to the limitations summarized out below, the holder of any preference share may convert any preference shares held by them into ordinary
shares of the Company on a one-for-one basis. The holder of any preference shares shall not be permitted to convert its preference shares
into ordinary shares if such conversion would result in such holder being the registered owner of more than 4.99% of the issued ordinary
shares of the Company.

Enhanced voting rights.
For all matters relating to the Company requiring the votes of shareholder by a poll or by proxy, each preference share shall carry the
equivalent number of votes as 50 ordinary shares.

Our Chief Financial Officer and Chairman currently have voting power to control all significant corporate actions.

Erke Huang, our Chief
Financial Officer and a director, and Zhaohui Deng, our Chairman of the Board, collectively beneficially own 1,000,000 preferred shares,
each having