Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 66

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 66
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 based in part
upon any form of holder election), the reference property into which the notes will be convertible will be deemed to be the weighted
average of the types and amounts of consideration actually received by the holders of the ordinary shares. We will provide written notification
to holders, the trustee and the conversion agent (if other than the trustee) of the weighted average as soon as practicable after such
determination is made.

If the reference property
in respect of any such share exchange event includes, in whole or in part, shares of common equity or depositary receipts (or other interests)
in respect thereof, the supplemental indenture providing that the notes will be convertible into reference property will also provide
for anti-dilution and other adjustments that are as nearly equivalent as practicable to the adjustments described under “—Conversion
Rate Adjustments” above (it being understood that no such adjustments shall be required with respect to any portion of the reference
property that does not consist of shares of common equity (however evidenced) or depositary receipts (or other interests) in respect thereof).
If the reference property in respect of any such share exchange event or event includes shares of stock, securities or other property
or assets (other than cash and/or cash equivalents) of a company other than us or the successor or purchasing company, as the case may
be, in such share exchange event or event, such other company, if an affiliate of us or the successor or acquiring company, will also
execute such supplemental indenture, and such supplemental indenture will contain such additional provisions to protect the interests
of the holders, including the right of holders to require us to repurchase their notes upon a fundamental change as described under “—Repurchase
upon Fundamental Change” below, as we in good faith reasonably consider necessary by reason of the foregoing. We will agree in the
indenture not to become a party to any such share exchange event unless its terms are consistent with the foregoing.

<div align='center'>S-39</div>

Adjustments of Prices

Whenever any provision of
the indenture requires us to calculate the last reported sale prices, the daily VWAPs, the daily conversion values or the daily settlement
amounts the “ordinary share price” for purposes of a make-whole fundamental change or the “redemption reference price”
for purposes of an optional redemption over a span of multiple days, we will make appropriate adjustments in good faith and in a commercially
reasonable manner to each to account for any adjustment to the conversion rate