Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 21

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 21
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 research and development costs across our businesses. As a result, our
ability to realize significant operating efficiencies by modifying our existing or new data centers utilizing these technologies and our
ability to serve all our customers could be jeopardized, which could materially adversely affect our business, results of operations and
future prospects.

The loss of any member of our management team, our inability to execute an effective succession plan, or our inability to attract and retain qualified personnel could adversely affect our business.

Our success and future growth
will depend to a significant degree on the skills and services of our management team, including Mr. Sam Tabar, our Chief Executive Officer,
and Mr. Erke Huang, our Chief Financial Officer. We have recently hired several key members of senior management of Enovum, including
Billy Krassakopoulos, CEO of Enovum, who is President of WhiteFiber and Thomas Sanfilippo, Chief Technology Officer of Enovum, in order
to grow WhiteFiber’s business. We will need to continue to grow our management in order to alleviate pressure on our existing team
and in order to continue to develop our business. If our management team, including any new hires that we may make, fails to work together
effectively and to execute our plans and strategies on a timely basis, our business could be harmed. Furthermore, if we fail to execute
an effective contingency or succession plan with the loss of any member of management, the loss of such management personnel may significantly
disrupt our business.

The loss of key members of
management could inhibit our growth prospects. Our future success also depends in large part on our ability to attract, retain and motivate
key management and operating personnel. As we continue to develop and expand our operations, we may require personnel with different skills
and experiences who have a sound understanding of our business. The market for highly qualified personnel in our industry is very competitive,
and we may be unable to attract or retain such personnel. If we are unable to attract or retain such personnel, our business could be
harmed.

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Our operations may be negatively affected if it is unable to obtain, develop and retain key personnel and skilled labor forces.

WhiteFiber must attract, develop
and retain executive officers and other professional, technical and labor forces with the skills and experience necessary to successfully
manage, operate and grow. We have recently hired certain key personnel for WhiteFiber, as well as the management team of Enovum. However,
competition for