Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 69

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 69
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 As a result, any
mine we establish can only be successful if we can obtain sufficient electrical power for that mine on a cost-effective basis, and our
establishment of new mines requires us to find locations where that is the case. There may be significant competition for suitable mine
locations, and government regulators may potentially restrict the ability of electricity suppliers to provide electricity to mining operations
in times of electricity shortage or may otherwise potentially restrict or prohibit the provision or electricity to mining operations.

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Any shortage of electricity supply or increase
in electricity cost in a jurisdiction may negatively impact the viability and the expected economic return for bitcoin mining activities
in that jurisdiction. In addition, the significant consumption of electricity may have a negative environmental impact, including contribution
to climate change, which may give rise to public opinion against allowing the use of electricity for bitcoin mining activities or government
measures restricting or prohibiting the use of electricity for bitcoin mining activities.

We may not adequately respond to price fluctuations and rapidly changing technology, which may negatively affect our business.

Competitive conditions within the digital asset
industry require that we use sophisticated technology in the operation of our business. The industry for blockchain technology is characterized
by rapid technological changes, new product introductions, enhancements and evolving industry standards. New technologies, techniques
or products could emerge that might offer better performance than the software and other technologies we currently utilize, and we may
have to manage transitions to these new technologies to remain competitive. We may not be successful, generally or relative to our competitors
in the digital asset industry, in timely implementing new technology into our systems, or doing so in a cost-effective manner. During
the course of implementing any such new technology into our operations, we may experience system interruptions and failures during such
implementation. Furthermore, there can be no assurances that we will recognize, in a timely manner or at all, the benefits that we may
expect as a result of our implementing new technology into our operations. As a result, our business and operations may suffer, and there
may be adverse effects on the price of our Ordinary Shares.

The value of stable coins that we hold may be subject to volatility and risk of loss

As of March 31, 2025, we held approximately $1.036
million in USD Coin, a stablecoin issued by Circle Internet Financial Public Limited Company (“Circle”) that is backed by
dollar denominated assets held by the issuer in segregated accounts with U.S. regulated financial institutions. Stablecoins such