Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 246

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 246
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 that it will act immediately to consider the need to issue a new determination
if the PRC authorities obstruct or otherwise fail to facilitate the PCAOB’s access. While the audit report of Audit Alliance LLP
included in this report was prepared by auditors based in Singapore who are subject to inspection and investigation by the PCAOB, there
can be no assurance that our auditor or we will be able to comply with these and other requirements imposed by U.S. regulators in the
future. The market prices of our Ordinary Shares and/or other securities could be adversely affected as a result of possible negative
impacts of the HFCA Act and other similar rules and regulations.

Our Hong Kong subsidiaries
could become subject to certain PRC laws if such laws are applied to Hong Kong.

The national laws of
the PRC, including, but not limited to the Cybersecurity Review Measures that became effective on February 15, 2022, do not currently
apply to our Hong Kong subsidiaries, except for those listed in the Basic Law of Hong Kong. However, due to changes in laws, regulations
or policies, including how those laws, regulations or policies would be interpreted or implemented, and the national laws applicable in
Hong Kong, the Basic Law might be revised in the future and our Hong Kong subsidiaries may be subject to certain PRC laws.

Pursuant to Article 18
of the Basic Law of the Hong Kong Special Administrative Region of the PRC (the “Basic Law”), the laws in force in the Hong
Kong Special Administrative Region shall be the Basic Law, the laws previously in force in Hong Kong as provided for in Article 8 of this
Law, and the laws enacted by the legislature of the Region. National laws shall not be applied in the Hong Kong Special Administrative
Region except for those listed in Annex III to the Basic Law. The laws listed therein shall be applied locally by way of promulgation
or legislation by the Region. Also, regarding the Annex III and several Instruments of the Basic Law, National Laws, which have applied
in Hong Kong until now are as following:

63

“Resolution on
the Capital, Calendar, National Anthem and National Flag of the PRC; Resolution on the National Day of the PRC; Declaration of the Government
of the PRC on the Territorial Sea; Nationality Law of the PRC; Regulations of the PRC Concerning Diplomatic Privileges and Immunities;
Law of the PRC on the National Flag; Regulations of the PRC Concern