Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 548

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1A
Chunk 548
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. Any analysts that do cover us may make adverse recommendations regarding our shares, adversely change
their recommendations from time to time and/or provide more favorable relative recommendations about our competitors. If analysts who
may cover us in the future were to cease coverage of our company or fail to regularly publish reports on us, or if analysts fail to cover
us or publish reports about us at all, we could lose (or never gain) visibility in the financial markets, which in turn could cause the
share price of our Ordinary Shares or trading volume to decline. Moreover, if our operating results do not meet the expectations of the
investor community, one or more of the analysts who cover our Company may change their recommendations regarding our Company, and our
share price could decline.

69

Our Ordinary Shares
may be thinly traded, and you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money or
otherwise desire to liquidate your shares.

Our Ordinary Shares may
become “thinly-traded”, meaning that the number of persons interested in purchasing our Ordinary Shares at or near bid prices
at any given time may be relatively small or non-existent. This situation may be attributable to a number of factors, including the fact
that we may not be well-known to stock analysts, stock brokers, institutional investors and others in the investment community that generate
or influence sales volume, and that, even if we came to the attention of such persons, they tend to be risk-averse and might be reluctant
to follow a relatively unknown company such as ours or purchase or recommend the purchase of our shares until such time as we became more
seasoned. As a consequence, there may be periods of several days or more when trading activity in our shares is minimal or non-existent,
as compared to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales
without an adverse effect on share price. A broad or active public trading market for our Ordinary Shares may not develop or be sustained.

We defended and
settled a securities class action litigation which resulted in significant costs for the Company.

The market for our Ordinary
Shares may have, when compared to seasoned issuers, significant price volatility, and we expect that our share price may continue to be
more volatile than that of a seasoned issuer for the indefinite future. In the past, plaintiffs have often initiated securities class
action litigation against a company following periods of volatility in the market price of its securities. On