Company: BTBT
Filing Date: 2025-10-02
Form Type: 8-K
Source: 0001213900-25-095533
Chunk: 1

Company: Bit Digital, Inc
Filing Date: 2025-10-02
Form: 8-K
Item: Item 1.01
Chunk 1
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 2, 2025, between the Company and the Trustee.

The Notes will be the Company’s general senior, unsecured obligations
and will rank (i) senior in right of payment to all of the Company’s indebtedness that is expressly subordinated in right of payment
to the Notes; (ii) equal in right of payment with all of the Company’s liabilities that are not so subordinated; (iii) effectively
junior to any of the Company’s future secured indebtedness to the extent of the value of the assets securing such indebtedness;
and (iv) structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries.

The Notes will bear interest at a rate of 4.00% per year. Interest
on the Notes will accrue from October 2, 2025 and will be payable semi-annually in arrears on April 1 and October 1 of each year, beginning
on April 1, 2026. The Notes will mature on October 1, 2030, unless earlier converted, redeemed or repurchased.

Holders may convert their Notes at their option prior to the close
of business on the second scheduled trading day immediately preceding the maturity date, in integral multiples of $1,000 principal amount.
The initial conversion rate for the Notes is 240.3846 ordinary shares of the Company per $1,000 principal amount of Notes, which is equivalent
to an initial conversion price of approximately $4.16 per ordinary share.

The conversion rate will be subject to adjustment in some events but
will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity
date or following the Company’s delivery of a notice of optional redemption, the Company will, in certain circumstances, increase
the conversion rate for a holder who elects to convert its Notes in connection with such a corporate event or convert its Notes called
(or deemed called) for redemption in connection with such notice of optional redemption, as the case may be. The Company will also increase
the conversion rate for a holder who elects to convert its Notes during the period from, and including, the date that is six months after
the last date of original issuance of the Notes until the close of business on the business day immediately preceding September 15, 2028
(other than a conversion in connection with a make-whole fundamental change).

The Notes will be redeemable for cash,