Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 51

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 51
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 York. Based
on the historical miner model hosted by Digihost, we calculated our loss at Digihost (based on a hash rate of 60 TH/s and power consumption
of 3000W) to be non-material in 2022. In 2023, we did not operate any miners at the Digihost’s North Tonawanda facility.

As a result of the bankruptcy filing by Compute
North on September 22, 2022, as described above, we have experienced service disruptions.

If we are unable to secure sufficient power supply
from the current hosting service providers, or if the current hosting service providers are unable to supply sufficient electric power,
we may be forced to seek out alternative mining facilities. Should this occur, our operations may be disrupted, which may have a material
adverse effect on our operations.

The development and acceptance of cryptographic and algorithmic protocols governing the issuance of and transactions in digital assets is subject to a variety of factors that are difficult to evaluate.

The use of digital assets to, among other things,
buy and sell goods and services and complete transactions, is part of a new and rapidly evolving industry that employs bitcoin assets
based upon a computer-generated mathematical and/or cryptographic protocol. Large-scale acceptance of digital assets as a means of payment
has not, and may never, occur. The growth of this industry in general, and the use of bitcoin, in particular, is subject to a high degree
of uncertainty, and the slowing or stopping of the development or acceptance of developing protocols may occur unpredictably. The factors
include, but are not limited to:

| ● | continued worldwide growth in the adoption and use of digital assets as a medium to exchange; |

| ● | governmental and quasi-governmental regulation of digital assets and their use, or restrictions on or regulation of access to and operation of the network or similar bitcoin systems; |

| ● | changes in consumer demographics and public tastes and preferences; |

| ● | the maintenance and development of the open-source software protocol of the network; |

| ● | the increased consolidation of contributors to the bitcoin blockchain through mining pools; |

| ● | the availability and popularity of other forms or methods of buying and selling goods and services, including new means of using fiat currencies; |

| ● | the use of the networks supporting digital assets for developing smart contracts and distributed applications; |

| ● | general economic conditions and the regulatory environment relating to digital assets; and |

| ● | negative consumer sentiment and perception of bitcoin specifically and digital assets