Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 98

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 98
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 has other non-U.S. source income that enables it to claim such credit. Certain proposed U.S. Treasury Regulations would impose additional limitations on the creditability of any foreign taxes on gains from dispositions, although recent IRS notices provide temporary relief from these additional limitations. U.S. Holders are urged to consult their tax advisor regarding the tax consequences if a non-U.S. tax is imposed on a disposition of our notes, including the availability of the foreign tax credit under such U.S. Holder’s particular circumstances and their ability to claim an exemption under the provisions of an applicable treaty.

<div align='center'>S-57</div>

Conversion of the Notes

Subject to the discussion below under “—Passive Foreign Investment Company Rules,” upon conversion of a note, a U.S. Holder will receive cash, ordinary shares or a combination of cash and ordinary shares, at our election.

If a U.S. Holder receives solely cash in exchange for a note upon conversion, the U.S. Holder’s gain or loss will be determined in the same manner as if the U.S. Holder had disposed of the note in a taxable disposition described under “—Sale, Exchange, Redemption, Repurchase or Taxable Disposition of the Notes” above, subject to the discussion in the section titled “—Constructive Distributions” below regarding the possibility that an adjustment to the conversion rate of a note converted in connection with a make-whole fundamental change or during a redemption period or for which the interest make-whole provision applies may be treated as a taxable stock dividend.

If a U.S. Holder receives solely ordinary shares (and, if applicable, cash in lieu of a fractional share) in exchange for notes upon conversion, the U.S. Holder generally will not recognize gain or loss on the conversion of the notes into ordinary shares, except to the extent of cash received in lieu of a fractional share (which could give rise to capital gain or loss, as described below), subject to the discussion under “—Constructive Distributions” below regarding the possibility that an adjustment to the conversion rate of a note converted in connection with a make-whole fundamental change or during a redemption period or for which the interest make-whole provision applies may be treated as a taxable stock dividend. The U.S. Holder’s aggregate tax basis in the ordinary shares (including any fractional share deemed to be received by the U.S. Holder) will equal the U.S. Holder’s adjusted tax basis in the note that was converted. A U.S. Holder’s tax basis in a fractional