Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 405

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 405
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 Pierce, with Zhaohui Deng serving as chair of the Nominating Committee.

The Nominating and Corporate Governance Committee
will consider director candidates recommended by shareholders. Shareholders who wish to recommend to the Nominating and Corporate Governance
Committee a candidate for election to the Board should send their letters to Erke Huang, erkeh@bit-digital.com. The corporate secretary
will promptly forward all such letters to the members of the Nominating Committee.

Director Independence

Our Board has reviewed the independence of our
directors, applying the Nasdaq independence standards. Based on this review, the Board determined that each Zhaohui Deng, Ichi Shih and
Brock Pierce are “independent” within the meaning of Item 7(d)(3)(iv)(B) of Schedule 14A under the Securities Exchange Act
of 1934, as amended, and as defined by Rule 4200(a)(15) of the NASDAQ Marketplace Rules. In making this determination, our Board considered
the relationships that each of these non-employee directors has with us and all other facts and circumstances our board deemed relevant
in determining their independence.

Section 16(a) Beneficial Ownership Reporting
Compliance

Section 16(a) of the Exchange Act requires our
directors and executive officers and persons who beneficially own more than ten percent of a registered class of the Company’s equity
securities to file with the SEC initial reports of ownership and reports of changes in ownership of common stock and other equity securities
of the Company. Officers, directors and greater than ten percent beneficial shareholders are required by SEC regulations to furnish us
with copies of all Section 16(a) forms they file. The Company was a foreign private issuer in 2024 and became a domestic issuer beginning
January 1, 2025, therefore it didn’t have an obligation to comply with Section 16(a) during the year ended December 31, 2024. The
Company intends to comply with Section 16(a) for the year ending December 31, 2025.

Code of Ethics

We have adopted a code of ethics that applies
to all of our executive officers, directors and employees. The code of ethics codifies the business and ethical principles that govern
all aspects of our business. A copy of our Code of Ethics has previously been filed as an exhibit with the SEC.

110

Item 11. Executive Compensation

Summary Compensation Table

The table below summarizes all compensation awarded
to