Company: BTBT
Filing Date: 2025-06-11
Form Type: S-3/A
Source: 0001213900-25-053489
Chunk: 19

Company: Bit Digital, Inc
Filing Date: 2025-06-11
Form: S-3/A
Chunk 19
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 will set forth in a prospectus supplement relating to a specific offering any intended use for the net
proceeds received from the sale of securities in that offering. We will have significant discretion in the use of any net proceeds. Investors
will be relying on the judgment of our management regarding the application of the proceeds of any sale of securities. We may invest the
net proceeds temporarily until we use them for their stated purpose, as applicable.

<div align='center'>ENFORCEABILITY OF CIVIL LIABILITIES</div>

We were incorporated in the Cayman Islands in
order to enjoy the following benefits:

| ● | political and economic stability;                             |
| ● | an effective judicial system;                                 |
| ● | a favorable tax system;                                       |
| ● | the absence of exchange control or currency restrictions; and |
| ● | the availability of professional and support services.        |

Our corporate affairs are governed by our
amended and restated memorandum and articles of association and by the Companies Act (Revised) of the Cayman Islands and common law
of the Cayman Islands. The rights of shareholders to take legal action against our directors and us, actions by minority
shareholders and the fiduciary responsibilities of our directors to us under Cayman Islands law are to a large extent governed by
the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial
precedent in the Cayman Islands as well as from English common law. Appeals from the Cayman Islands Courts to the Privy Council
(which is the final court of appeal for British overseas territories, such as the Cayman Islands) are binding on courts in the
Cayman Islands. Decisions of the English courts, and particularly the Supreme Court of the United Kingdom and the Court of Appeal
are generally of persuasive authority but are not binding on the courts of the Cayman Islands. Decisions of courts in other Commonwealth jurisdictions are similarly
of persuasive but not binding authority. The rights of our shareholders and
the fiduciary responsibilities of our directors under Cayman Islands law are not as clearly established as they would be under
statutes or judicial precedents in the United States. In particular, the Cayman Islands has a different body of securities laws as
compared to the United States and provide less protection to investors. In addition, Cayman Islands companies may not have standing
to initiate a shareholder derivative action before the U.S. federal courts. The Cayman Islands courts