Company: BTBT
Filing Date: 2025-07-15
Form Type: 424B5
Source: 0001213900-25-063950
Chunk: 9

Company: Bit Digital, Inc
Filing Date: 2025-07-15
Form: 424B5
Chunk 9
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 this offering is based on 297,575,103 ordinary shares outstanding as of July 11, 2025 and, except as otherwise indicated, all information in this prospectus supplement does not include the number of shares reserved for future exercise or vesting of awards under our equity incentive plans, and 3,769,914, 10,118,046 and 360,000 shares issuable upon exercise of outstanding RSUs, private warrants and options, respectively.

<div align='center'>S-3

Risk Factors</div>

An investment in our ordinary shares involves a high degree of risk. You should carefully consider and evaluate all of the information included and incorporated by reference in this prospectus, including the risk factors below, in the 2024 Form 10-K (which is incorporated by reference into this prospectus supplement), and other filings we make with the SEC, which are incorporated by reference into this prospectus supplement. It is possible that our business, financial condition, liquidity or results of operations could be materially adversely affected by any of these risks.

We intend to use the proceeds of this offering to purchase Ethereum, the price of which has been, and may continue to be, subject to significant volatility.

We intend use the net proceeds
from this offering to purchase Ethereum. Ethereum is subject to significant volatility. In addition, there is no guarantee that we will
be able to sell our ETH at prices quoted on various cryptocurrency trading platforms or at all if it determines to do so. The supply of
ETH is currently controlled by the source code of the Ethereum platform, and there is a risk that the developers of the code and the participants
in the Ethereum network could develop and/or adopt new versions of the Ethereum software that significantly increase the supply of ETH
in circulation, negatively impacting the trading price of ETH. Future fluctuations in Ethereum trading prices may result in our converting
Ethereum purchased with the net proceeds from this offering into cash with a value substantially below the net proceeds from this offering.
Further, any significant decrease in the price of ETH may materially and adversely affect the value of our securities and, in turn, our
business and financial condition.

Our preliminary financial information represents management’s current reconciliation and are subject to change.

The preliminary estimated
financial results contained in “Prospectus Supplement Summary—Recent Developments— Preliminary Financial Results for
the Three Months Ended June 30, 2025” represents only preliminary financial results and is based on information available to management
as of the date of this prospectus supplement