Company: BTBT
Filing Date: 2025-10-31
Form Type: S-3ASR
Source: 0001213900-25-104745
Chunk: 60

Company: Bit Digital, Inc
Filing Date: 2025-10-31
Form: S-3ASR
Chunk 60
---
 PFIC status is determined
annually, and whether the Company will be a PFIC for the current taxable year or any future taxable year is uncertain. Moreover, the Company
is not committing to determine whether it is or is not a PFIC on an annual basis.

If we are (or are treated with respect to a U.S.
investor as) a PFIC for any taxable year during which a U.S. investor owns our ordinary shares, the U.S. investor generally will be subject
to adverse U.S. federal income tax consequences, including increased tax liability on disposition gains and certain “excess distributions”
and additional reporting requirements. Prospective U.S. investors of the notes should consult their tax advisers regarding the application
of the PFIC rules in their particular circumstances. See “Taxation—Certain Material United States Federal Income Tax Considerations.”

<div align='center'>S-8

USE OF PROCEEDS</div>

We may issue and sell our ordinary shares having
aggregate sales proceeds of up to $2.5 billion from time to time. Because there is no minimum offering amount required as a condition
of this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time.
There can be no assurance that we will sell any shares under or fully utilize the Sales Agreement as a source of financing.

We currently intend to use the net proceeds from
this offering, if any, primarily to purchase Ethereum and may use the net proceeds for general corporate purposes, including potential
investments, acquisitions and other business opportunities relating to digital assets.

Pending the use of the net proceeds described
above, we may invest the net proceeds from this offering in a variety of capital preservation investments, including money market funds,
short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed
obligations of the U.S. government.

<div align='center'>DIVIDEND POLICY</div>

We have never declared or paid any cash dividends
on our ordinary shares. We have no present plan to declare and pay any dividends on our ordinary shares in the near future. We currently
intend to retain most, if not all, of our available funds and any future earnings to operate and expand our business. Any future determination
to pay dividends will be at the discretion of our board of directors, subject to applicable laws, and will depend on our financial condition,
results of operations, capital requirements, general business conditions and other