Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 23

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 23
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 the last date of original issuance of the notes until the close of business on the business day immediately
preceding September 15, 2028 (other than a conversion in connection with a make-whole fundamental change). The increase in the conversion
rate per $1,000 principal amount of notes to be converted will be a number of additional ordinary shares equal to (i) the sum of the remaining
scheduled payments of interest that would have been made on $1,000 principal amount of the notes to be converted had such notes remained
outstanding from the conversion date through October 1, 2028, divided by (ii) the greater of (x) the conversion price as of the applicable
conversion date and (y) the simple average of the daily VWAP (as defined under “Description of the Notes—Settlement upon Conversion”)
of the ordinary shares for the ten consecutive trading days ending on and including the trading day immediately preceding such conversion
date, which could result in significant dilution to our shareholders.

Notwithstanding the foregoing, if in connection with a conversion of notes, the conversion rate is adjusted as described under “Description of the Notes—Adjustment to Ordinary Shares Delivered upon Conversion upon a Make-Whole Fundamental Change” or “Description of the Notes—Adjustment to Conversion Rate upon Conversion in Connection with an Optional Redemption,” then such converting holder will not receive the interest make-whole conversion rate adjustment (as defined under “Description of the Notes—Conversion Rights-Interest Make-Whole Conversion Rate Adjustment upon Certain Conversions”) with respect to such notes. See “Description of the Notes—Conversion Rights—Interest Make-Whole Conversion Rate Adjustment upon Certain Conversions.”

Upon any optional redemption of the notes or any conversion of the notes in connection with a related redemption notice, the cash comprising the redemption price, in the case of an optional redemption, or the applicable conversion rate, in the case of a conversion in connection with a redemption notice, as applicable, may not fully compensate you for future interest payments or lost time value of your notes.

On or after October 6, 2028,
we may optionally redeem for cash all or any part of the notes, at our option, if the last reported sale price of our ordinary shares
has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), during any 30
consecutive trading day period (including the last trading day of such period) ending on, and including, the trading