Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 66

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 66
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-type transaction to convert
currencies between the two forks. Additionally, it may be unclear following a fork which fork represents the original asset and which
is the new asset. Different metrics adopted by industry participants to determine which is the original asset include: referring to the
wishes of the core developers of bitcoin, blockchains with the greatest amount of hashing power contributed by miners or validators; or
blockchains with the longest chain. A fork in the network of a particular bitcoin could adversely affect an investment in our Company
or our ability to operate.

We may not be able to realize the economic benefit
of a fork, either immediately or ever, which could adversely affect an investment in our securities. If we hold a bitcoin at the time
of a hard fork into two digital assets, industry standards would dictate that we would be expected to hold an equivalent amount of the
old and new assets following the fork. However, we may not be able, or it may not be practical, to secure or realize the economic benefit
of the new asset for various reasons. For instance, we may determine that there is no safe or practical way to custody the new asset,
that trying to do so may pose an unacceptable risk to our holdings in the old asset, or that the costs of taking possession and/or maintaining
ownership of the new bitcoin exceed the benefits of owning the new bitcoin. Additionally, laws, regulation or other factors may prevent
us from benefitting from the new asset even if there is a safe and practical way to custody and secure the new asset.

There is a possibility of bitcoin mining algorithms transitioning to proof of stake validation and other mining related risks, which could make us less competitive and ultimately adversely affect our business and the value of our shares.

The protocol pursuant to which transactions are
confirmed automatically on the bitcoin blockchain through mining is known as proof-of-work (or PoW). Proof-of-stake (or PoS) is an alternative
method in validating digital asset transactions, such as Ethereum. The shift from a proof-of-work validation method to a PoS method, mining
requires less energy and may render any company that maintains advantages in the current climate (for example, from lower priced electricity,
processing, real estate, or hosting) less competitive. We, as a result of our efforts to optimize and improve the efficiency of our bitcoin
mining operations, may be exposed to the risk in the future of losing the benefit of our capital investments and the competitive advantage
we hope to gain from this as a result, and may