Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 26

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 26
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Shares on order of payment preference. We may be required to accept terms that restrict or limit our ability to, among other things:

| ● | Pay cash dividends to our shareholders, 
 subject to certain limited exceptions;  |

| ● | Redeem or repurchase our Ordinary 
 Shares or other equity;           |

| ● | Incur additional indebtedness; |

| ● | Permit liens on assets; |

| ● | Make certain investments (including                                                                                                       
 through the acquisition of stock, shares, partnership or limited liability company interests, any loan, advance or capital contribution); |

| ● | Sell, lease, license, lend                                               
 or otherwise convey an interest in a material portion of our assets; and |

| ● | Sell or otherwise issue Ordinary                                     
 Shares or other share capital subject to certain limited exceptions. |

These restrictions may limit
our ability to obtain additional financing, withstand downturns in our business or take advantage of business opportunities.

<div align='center'>11</div>

Our business has and is expected to continue to have significant customer concentration.

We
generate a large portion of our revenue from a small number of customers. There are inherent risks whenever a large percentage of total
revenue is concentrated with a limited number of customers. If we were to lose one or more of our customers, our operating results could
be materially adversely affected.

WhiteFiber Data Centers

Enovum’s
data center in Montreal is currently serving 14 customers. No one customer has accounted for in excess of 50% of revenue in the three
months ended March 31, 2025 or the 12 months ended December 31, 2024. During fiscal year 2023, 12 customers accounted for 100% of Enovum’s
revenue.

Cloud Service Business

During
2024, our HPC data center in Iceland had contracts with three customers. Our Initial Customer has accounted for approximately 75% of our
revenue during the three months ended March 31, 2025 and 43% of our revenues through December 31, 2024.

We
expect that the limited number of customers will continue to account for a high percentage of our revenue for the foreseeable future.
In addition, demand for our services generated by these customers may fluctuate significantly from quarter to quarter. The concentration
of our customer base increases risks related to the financial condition of our customers, and the deterioration in financial condition
of a single customer or the failure of a single customer to perform its obligations