Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1117

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 2
Chunk 1117
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at Skógarhlíð 12, 105 Reykjavík, Iceland. The lease is for a term ending December 31, 2025, with a monthly rental
of approximately $620.

We believe that we will be able to obtain adequate
facilities, principally through leasing, to accommodate our future expansion plans. We believe that our current property rights are sufficient
for our current operations.

Item 3. Legal Proceedings 

Except as set forth herein, we are not currently
a party to any material legal or administrative proceedings.

On June 3, 2024, the Company filed suit in Delaware
Superior Court against Blockfusion, Inc. (“Blockfusion”) alleging claims for breach of contract, conversion, and related claims
in connection with, among other things, certain deposits and advances paid to Blockfusion, the return of which is owed to Bit Digital.
Bit Digital is seeking in excess of $4.3 million. On October 22, 2024, Blockfusion denied the Company’s claims and brought reciprocal
breach of contract and related counterclaims. Blockfusion is seeking at least $158,000 in damages. A bench trial has been scheduled for
June 29, 2026. The litigation is at an early stage and a reasonably possible range of loss or recovery cannot be estimated.

Item 4. Mine Safety Disclosures

None.

75

PART II

Item 5. Market for Registrant’s Common
Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information

We listed our Ordinary Shares on the Nasdaq Capital
Market under the former name of Golden Bull Limited and the symbol “DNJR” on March 19, 2018. On August 7, 2020, the Company
changed its Nasdaq trading symbol to “BTBT”. On September 10, 2020, we officially changed the Company’s name to “Bit
Digital, Inc.”

Holders of Our Common Stock

As of March 7, 2025, we had 182,435,019 ordinary
shares issued and outstanding, held by 124 stockholders of record and in excess of 67,000 additional holders of ordinary shares held in
“street name” by various broker-dealers and registered clearing agencies.

Dividends

We currently intend to retain all future earnings
to finance our operations and to expand our business. The 1,000,000 preference shares beneficially held by an officer and a