Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 546

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1A
Chunk 546
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 market acceptance of blockchain and bitcoin and other digital assets;

●actions
by our competitors, such as new business initiatives, acquisitions and divestitures;

●strategic
transactions undertaken by us;

●additions
or departures of key personnel;

●prevailing
economic conditions;

●disputes
concerning our intellectual property or other proprietary rights;

●sales
of our Ordinary Shares by our officers, directors or significant shareholders;

●other
actions taken by our shareholders;

●future
sales or issuances of equity or debt securities by us;

●business
disruptions caused by earthquakes, tornadoes or other natural disasters;

●issuance
of new or changed securities analysts’ reports or recommendations regarding us;

●legal
proceedings involving our company, our industry or both;

●changes
in market valuations of companies similar to ours;

●the
prospects of the industry in which we operate;

●speculation
or reports by the press or investment community with respect to us or our industry in general;

●the
level of short interest in our shares; and

●other
risks, uncertainties and factors described in our Annual Report for the year ended December 31, 2024 on Form 10-K.

68

In addition, the stock
markets in general have experienced extreme volatility that has often been unrelated to the operating performance of issuers. These broad
market fluctuations may negatively impact the price or liquidity of our Ordinary Shares. When the price of a stock has been volatile,
holders of that stock have sometimes instituted securities class action litigation against the issuer, and we have been impacted in that
way. See the risk factor below titled “We defended and settled a securities class action litigation which resulted in significant
costs for the Company.” The pending lawsuit has required significant management time and attention, resulting in significant
legal expenses and potential damages.

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 fifty (50) votes, which equals approximately 27.4% of the voting power of our 182,435,019 outstanding Ordinary Shares
as of March 7, 2025 or approximately 21.5% of all votes cast on an as-converted basis. The Board authorized the exchange by Messrs. Huang