Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 110

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 110
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 face uncertainties as to the reporting and
other implications of certain past and future transactions where PRC taxable assets are involved, such as offshore restructuring, sale
of the shares in our offshore subsidiaries and investments. Our Company may be subject to filing obligations or taxed if our company is
transferor in such transactions and may be subject to withholding obligations if our company is transferee in such transactions, under
Circular 7 and/or SAT Circular 37. For transfer of shares in our Company by investors who are non-PRC resident enterprises, our former
PRC subsidiaries may be requested to assist in the filing under SAT Circular 7 and/or Circular 37. As a result, we may be required to
expend valuable resources to comply with SAT Circular 7 and/or Circular 37 or to request the relevant transferors from whom we purchase
taxable assets to comply with these circulars, or to establish that our Company should not be taxed under these circulars, which may have
a material adverse effect on our financial condition and results of operations.

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Risks Related to Singapore Government Regulations

Regulations on Payment Services in Singapore

Staking activities will be performed by one of
our subsidiaries, Bit Digital Singapore Pte. Ltd. (“BTSG”) which is incorporated under the laws of the Republic of Singapore
and currently does not possess any financial regulatory licenses.

BTSG intends to use its own proprietary assets
to trade and stake ETH, which is defined as a digital payment token (“DPT”) (as defined under the Payment Services Act 2019
of Singapore (“PS Act”) with licensed or otherwise exempt third party service providers under applicable laws (including the
PS Act or the Securities and Futures Act 2001 of Singapore (“SFA”)). BTSG’s current business practices in Singapore
are subject to the following regulatory risks, as described herein.

The Monetary Authority of Singapore (“MAS”)
regulates the provision of payment services in Singapore under the PS Act. Unless excluded or exempt, an entity must obtain the relevant
license to carry on a business in providing regulated payment services under the PS Act, which include account issuance service, e-money
issuance service, domestic money transfer service, cross-border money transfer service, merchant acquisition service, digital payment
token service, and money-changing service.

Under the PS Act, licensees may be subject to
obligations relating to general approval requirements for changes of control, appointment and removal of CEOs and directors, general notification