Company: BTBT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110383
Chunk: 332

Company: Bit Digital, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 3
Chunk 332
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2029 and other growth strategies. Market disruptions may increase the cost of borrowing
or adversely affect WhiteFiber’s ability to access one or more financial markets. Such market disruptions could include:

    ●
    a significant economic
    downturn;

    ●
    the financial distress
    of unrelated industry leaders in the same line of business;

    ●
    deterioration in capital
    market conditions;

    ●
    turmoil in the financial
    services industry;

    ●
    volatility in GPU prices;

    ●
    terrorist attacks;

    ●
    war; or

    ●
    cyberattacks.

If
we raise additional equity financing, our shareholders may experience significant dilution of their ownership interests, and the per
share value of our ordinary shares could decline. Furthermore, if we engage in debt financing, the holders of debt will have priority
over the holders of our ordinary shares on order of payment preference. We may be required to accept terms that restrict or limit our
ability to, among other things:

    ●
    pay cash dividends to our
    shareholders, subject to certain limited exceptions;

    ●
    redeem or repurchase our
    ordinary shares or other equity;

    ●
    incur additional indebtedness;

    ●
    permit liens on assets;

    ●
    make certain investments
    (including through the acquisition of stock, shares, partnership or limited liability company interests, any loan, advance or capital
    contribution);

    ●
    sell, lease, license, lend
    or otherwise convey an interest in a material portion of our assets; and

    ●
    sell or otherwise issue
    ordinary shares or other share capital subject to certain limited exceptions.

These
restrictions may limit our ability to obtain additional financing, withstand downturns in our business or take advantage of business
opportunities.

If
one of our customers were to obtain exclusive rights to open source technologies that we employ across our businesses, our ability
to realize significant operating efficiencies could be jeopardized.

Our
business model leverages our ability to share significant open source technological innovations across cloud services, our data centers
and customers. If one of our customers were to obtain exclusive rights to what are now open source technologies we employ across our
businesses, we could be limited in obtaining essential supplies at competitive costs and sharing research and development costs across
our businesses. As a result, our ability to realize significant operating efficiencies by modifying our existing or new data centers
utilizing these technologies and