Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 2159

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 2159
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 to successfully mine digital currency on
the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital
currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; issues
in the development and use of AI; regulations that target AI, and governmental regulations and other legal obligations and other legal
obligations related to data privacy, data protection and information security, and other related risks as more fully set forth under “Risk
Factors” and elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2024 and other documents disclosed under
the Company’s filings at www.sec.gov.

Notwithstanding the fact that Bit Digital Inc.
has not conducted operations in the PRC since September 30, 2021 we have disclosed under Risk Factors in our Annual Report on Form 10-K
for the year ended December 31,2024: “We may be subject to fines and penalties for any noncompliance with or any liabilities in
our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former
business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the authority may still find
its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five
years.

The forward-looking information in this report
reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
In connection with the forward-looking information contained in this report, the Company has made assumptions about: the current profitability
in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets
going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital
currencies and the ability of the Company to mine digital currencies on the cloud will be consistent with historical prices; and there
will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant
events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in
the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue
reliance should not be put on such information due to the inherent