Company: BTBT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076608
Chunk: 130

Company: Bit Digital, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 130
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 for the year ended December 31, 2024 (Annual Report) that, notwithstanding the fact
that Bit Digital, Inc. has not conducted operations in the PRC since September 30, 2021, we have previously disclosed under Risk Factors
in our Annual Report. “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. 

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

None. Previously reported on Form 8-K.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

During the three months ended June 30, 2025, no
director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading
arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

74

Item 6. Exhibits.

(a) Exhibits.

    Exhibit No.
     
    Document Description

    2.1*
     
    Section 351 Contribution Agreement, dated July 30, 2025, between WhiteFiber, Inc. and Bit Digital, Inc.

    10.1
     
    MTL-3 Lease Agreement dated April 10, 2025 (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on April 15, 2025).

    10.2
     
    Purchase Agreement, dated as of April 10, 2025, by and between Enovum Data Centers Corp. and Unifi Manufacturing, Inc. Certain portions of the exhibit that include immaterial and confidential information have been omitted and are available upon request of the SEC (Incorporated by reference to Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on April 16, 2025).