Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 198

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 198
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 to seek a replacement facility
to operate our miners on acceptable terms; should this occur, our operations may be disrupted, which may have a material adverse effect
on our operations.

Relocating our miners,
as we did to migrate from China and from Compute North and Core Scientific facilities and Blockfusion and Blockbreakers facilities, required
us to incur costs to transition to new facilities including, but not limited to, transportation expenses and insurance, downtime while
we are unable to mine, legal fees to negotiate the new lease, de-installation at our current facility and, ultimately, installation at
any new facility we identify. These costs may be substantial, and we cannot guarantee that we will be successful in transitioning our
miners to a new facility. Since we are required to move our miners, our business may suffer, and our results of operations would be expected
to be materially adversely affected.

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