Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 21

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 21
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 notes will be determined by reference to the volume-weighted average price of our ordinary shares for each trading day in a 30-trading-day observation period described under “Description of the Notes—Conversion Rights—Settlement upon Conversion.” Accordingly, if the price of our ordinary shares decreases during this period, the amount and/or value of consideration you receive will be adversely affected. In addition, if the market price of our ordinary shares at the end of such period is below the average volume-weighted average price of our ordinary shares during such period, the value of any ordinary shares that you will receive in satisfaction of our conversion obligation will be less than the value used to determine the number of ordinary shares that you will receive.

If we elect to satisfy our conversion obligation solely in ordinary shares upon conversion of the notes, we will be required to deliver ordinary shares, together with cash for any fractional share, as described in “Description of the Notes—Conversion Rights—Settlement upon Conversion.” Accordingly, if the price of the ordinary shares decreases prior to our delivery of ordinary shares to you, the value of our ordinary shares that you receive will be adversely affected and would be less than the conversion value of the notes on the conversion date.

The notes are not protected by restrictive covenants.

The indenture governing the notes will not contain any financial or operating covenants or restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by us or any of our subsidiaries. The indenture will not contain any covenants or other provisions to afford protection to holders of the notes in the event of a fundamental change or other corporate transaction involving us except to the extent described under “Description of the Notes—Repurchase upon Fundamental Change,” “Description of the Notes—Conversion Rights—Adjustment to Ordinary Shares Delivered upon Conversion upon a Make—Whole Fundamental Change” and “Description of the Notes—Consolidation, Merger and Sale of Assets.”

The adjustment to the conversion rate for notes converted in connection with a make-whole fundamental change or an optional redemption may not adequately compensate you for any lost value of your notes as a result of such transaction or redemption.

If a make-whole fundamental
change occurs prior to the maturity date or we elect to call the notes for an optional redemption, under certain circumstances, we will
increase the conversion rate by a number of additional ordinary shares for notes converted in connection with such make-whole fundamental
change or such redemption. The increase in the conversion rate will be determined based on