Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 36

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 36
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 of ordinary shares per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $ per ordinary share). The conversion rate is subject to adjustment if certain events occur.

We will also increase the
conversion rate for a holder who elects to convert its notes during the period from, and including, the date that is six months after
the last date of original issuance of the notes until the close of business on the business day immediately preceding September 15, 2028
(other than a conversion in connection with a make-whole fundamental change) as described under “Description of the Notes—Conversion
Rights—Interest Make-Whole Conversion Rate Adjustment upon Certain Conversions.”

We will settle conversions of notes by paying or delivering, as the case may be, cash, ordinary shares or a combination of cash and ordinary shares, at our election, as described under “—Conversion Rights—Settlement upon Conversion.” You will not receive any separate cash payment for interest accrued and unpaid to the conversion date except under the limited circumstances described below. Instead, interest will be deemed to be paid in full (rather than cancelled, extinguished or forfeited) by the cash, ordinary shares or a combination of cash and ordinary shares paid or delivered, as the case may be, to you upon conversion of a note.

The indenture will not limit the amount of debt, including secured debt, that may be issued by us and our subsidiaries under the indenture or otherwise. The indenture will not contain any financial covenants and will not restrict us from paying dividends or issuing or repaying, prepaying or repurchasing our other securities or indebtedness. Other than restrictions described under “—Conversion Rights—Repurchase upon Fundamental Change” and “—Consolidation, Merger and Sale of Assets” below and except for the provisions set forth under “—Conversion Rights—Adjustment to Ordinary Shares Delivered upon Conversion upon a Make-Whole Fundamental Change,” the indenture will not contain any covenants or other provisions designed to afford holders of the notes protection in the event of a highly leveraged transaction involving us or in the event of a decline in our credit rating as the result of a takeover, recapitalization, highly leveraged transaction or similar restructuring involving us that could adversely affect such holders. The notes will not be guaranteed by any of our subsidiaries.

We may, without the consent of, or notice to, the holders, reopen the indenture for the notes and issue additional notes under the indenture with the same