Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 40

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 40
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 grow our business. In addition, our data centers may be susceptible to power shortages and planned or
unplanned power outages caused by these shortages. Power outages may last beyond our backup and alternative power arrangements, which
would harm our customers and our business. Any loss of services or equipment damage could adversely affect both our ability to generate
revenues and our operating results, harm our reputation and potentially lead to customer disputes or litigation.

A curtailment or disruption in energy supply in Iceland, Canada or the U.S. due to regulations and policies implemented by their respective governments, which prioritize energy supply, may cause a substantial disruption or discontinuance of our data center operations based in Iceland, Canada, or prospectively in the U.S. and therefore impair our financial condition or results of operations.

Through WhiteFiber Iceland ehf, the Company has
established and has been operating its colocation data center in Northern Iceland developing a fleet of 256 servers since November 2023.
Through WhiteFiber’s subsidiary Enovum which was acquired in October 2024, we have been operating our HPC data center located in
Montreal Canada (MTL-1), and expect to commence operations in the fourth quarter of 2025 at MTL-2 and MTL-3. In May 2025, we purchased
a former industrial manufacturing building and land outside of Greensboro, NC which we expect to be operational in March 2026.

In order to maintain its
HPC data centers operational, we will need to acquire sufficient supplies of electricity generated by hydroelectric and geothermal energy.
In addition, our colocation facilities need also to maintain reliable and adequate infrastructure and cooling systems to ensure optimal
performance.

Currently,
Icelandic and Canadian-based data centers and similar facilities, including the ones contracted with the Company, may face significant
risks of energy disruption, curtailment or discontinuance due to low water level in Icelandic reservoirs utilized by hydropower plants,
which provide hydro-generated energy in the country. In the event of a water shortage, and therefore a shortage of hydro-generated energy,
the prioritization framework for Icelandic energy favors residential and certain business uses over data centers and similar facilities.
In addition, volcanic eruptions might interrupt the generation of electricity from geothermal energy, as occurred several times in 2023.

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In
addition, we may be subject to risks and unanticipated costs associated with obtaining power from various utility companies.