Company: BTBT
Filing Date: 2025-06-26
Form Type: 424B5
Source: 0001213900-25-058407
Chunk: 51

Company: Bit Digital, Inc
Filing Date: 2025-06-26
Form: 424B5
Chunk 51
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 maintained by Blockbreakers Inc. (“Blockbreakers”) to Soluna
and Coinmint after our service agreement expired in November 2024. From time to time, the Company may change partnerships with hosting
facilities to recalibrate its bitcoin mining operations. These terminations are strategic, targeting reduced operational costs, enhanced
energy efficiency for a smaller carbon footprint, increased flexibility in operational control, and minimized geopolitical risks. While
a short-term decrease in mining output might occur, we expect these changes to yield long-term operational improvements.

We are a sustainability-focused digital asset
mining company. On June 24, 2021, we signed the Crypto Climate Accord, a private sector-led initiative that aims to decarbonize the crypto
and blockchain sectors. On December 7, 2021, we became a member of the Bitcoin Mining Council (“BMC”), joining MicroStrategy
and other founding members to promote transparency, share best practices, and educate the public on the benefits of bitcoin and bitcoin
mining.

ETH Staking Business

In the fourth quarter of 2022, we formally commenced
Ethereum staking operations. We intend to delegate or stake our ETH holdings to an Ethereum validator node to help secure and strengthen
the blockchain network. Stakers are compensated for this commitment in the form of a reward of the native network token.

Our native staking operations are enhanced by
a partnership with Blockdaemon, the leading institutional-grade blockchain infrastructure company for node management and staking. In
the fourth quarter of 2022, following a similar mechanism to native Ethereum staking, we also participated in liquid staking via Portara
protocol (formerly known as Harbour), the liquid staking protocol developed by Blockdaemon and StakeWise and the first of its kind tailored
to institutions. With the introduction of staked ETH withdrawals in April 2023, we have reassessed our Ethereum network staking approaches,
weighing the advantages of traditional staking against liquid staking solutions. The withdrawal feature in native staking, coupled with
yields that are on par with those of liquid staking, has encouraged us to expand our collaborations with other service providers in this
domain. As a result, we terminated all liquid staking activities with StakeWise in the third quarter of 2023, reclaiming all staked Ethereum
along with the accumulated rewards. In the fourth quarter of 2023, the Company terminated the native staking activities and reclaimed
all staked Ethereum with Blockdaemon.

Our native