Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 162

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 162
---
. The written plan of merger or consolidation
must be filed with the Registrar of Companies of the Cayman Islands together with, among other things, a director’s declaration
regarding matters prescribed by the Companies Act, an undertaking that a copy of the certificate of merger or consolidation will be given
to the members and creditors of each constituent company and that notification of the merger or consolidation will be published in the
Cayman Islands Gazette. Court approval is not required for a merger or consolidation which is effected in compliance with these statutory
procedures.

A merger between a Cayman
parent company and its Cayman subsidiary or subsidiaries does not require authorization by a resolution of shareholders if a copy of
the plan of merger is given to every shareholder of each subsidiary company to be merged unless that shareholder agrees otherwise. For
this purpose, a subsidiary is a company of which at least 90% of the issued shares entitled to vote are owned by the parent company.

Except in certain limited
circumstances, a dissenting shareholder of a Cayman Islands constituent company is entitled to payment of the fair value of his or her
shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting from a merger or consolidation,
provided the dissenting shareholder complies strictly with the procedures set out in the Companies Act. The exercise of such dissenter
rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she might otherwise be entitled by
virtue of holding shares, except for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

<div align='center'>13</div>

In addition, there are
statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that
the arrangement is approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made,
and who must, in addition, represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that
are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings
and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder or creditor
has the right to express to the court the view that the transaction ought not to be approved, the Grand Court can be expected to approve
the arrangement if it determines