Company: BTBT
Filing Date: 2025-04-30
Form Type: S-3
Source: 0001213900-25-037166
Chunk: 35

Company: Bit Digital, Inc
Filing Date: 2025-04-30
Form: S-3
Chunk 35
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 afforded by the Delaware business combination
statute. However, although Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does
provide that such transactions must be entered into bona fide in the best interests of the company and not with the effect of constituting
a fraud on the minority shareholders.

Dissolution; Winding up.Under the Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must
be approved by shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board
of directors may it be approved by a simple majority of the corporation’s outstanding shares. Delaware law allows a Delaware corporation
to include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.
Under Cayman Islands law, a company may be wound up by either an order of the courts of the Cayman Islands or by a special resolution
of its members or, if the company is unable to pay its debts as they come due, by an ordinary resolution of its members. The court has
authority to order winding up of a company in a number of specified circumstances, including where it is, in the opinion of the court,
just and equitable to do so. Under the Companies Act and our current articles of association, our company may be dissolved, liquidated
or wound up by a special resolution of our shareholders.

Variation of Rights of Shares. Under the Delaware General Corporation Law, a corporation may vary the rights of a class of shares with
the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation provides otherwise.
Under Cayman Islands law and our current articles of association, if our capital is divided into different classes of shares, the
rights attaching to any class of share (unless otherwise provided by the terms of issue of the shares of that class) may be varied
with the consent in writing of the holders of three-fourths of the issued shares of that class or with the sanction of a resolution
passed by not less than three-fourths of such holders of the shares of that class as may be present in person or by proxy at a
separate general meeting of the holders of the shares of that class. Unless the terms on which a class of shares was issued state
otherwise, the rights conferred on the shareholder holding shares of any class shall not be deemed to be varied by the creation or
issue of further shares ranking pari passu with