Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 58

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 58
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 such distribution; and                                                |
| FMV | = | the fair market value (as determined by us in good faith) of the shares of capital stock, evidences of indebtedness, assets, property, rights, options or warrants distributed with respect to each outstanding ordinary share on the ex-dividend date for such distribution. |

<div align='center'>S-34</div>

Any increase made under the
portion of this clause (3) above will become effective immediately after the open of business on the ex-dividend date for such distribution.
To the extent such distribution is not so paid or made, the conversion rate shall be decreased to be the conversion rate that would then
be in effect had the adjustment been made on the basis of only the distribution, if any, actually made or paid. Notwithstanding the foregoing,
if “FMV” (as defined above) is equal to or greater than “SP” (as defined above), in lieu of the foregoing
increase, each holder of a note shall receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same
terms as holders of the ordinary shares, the amount and kind of our capital stock, evidences of our indebtedness, other assets or property
of ours or rights, options or warrants to acquire our capital stock or other securities that such holder would have received if such holder
owned a number of ordinary shares equal to the conversion rate in effect on the ex-dividend date for the distribution.

With respect to an adjustment
pursuant to this clause (3) where there has been a payment of a dividend or other distribution on the ordinary shares of shares of capital
stock of any class or series, or similar equity interest, of or relating to a subsidiary or other business unit of ours, that are, or,
when issued, will be, listed or admitted for trading on a U.S. national securities exchange, which we refer to as a “spin-off,”
the conversion rate will be increased based on the following formula:

where,

| CR0  | = | the conversion rate in effect immediately prior to the end of the valuation period (as defined below);                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| CR1  | = | the conversion rate in effect immediately after the end of the valuation period;                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| FMV0 | = | the average of the last reported sale prices of the capital stock or similar equity interest distributed to holders of the ordinary shares applicable to one ordinary share (determined by