Company: BTBT
Filing Date: 2025-04-16
Form Type: 8-K
Source: 0001213900-25-032598
Chunk: 0

Company: Bit Digital, Inc
Filing Date: 2025-04-16
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01.

Entry into a Material Definitive Agreement.

Real Estate Purchase and Sale Agreement

On April 10, 2025, Bit Digital, Inc. (the “ Company”)
through its wholly owned Canadian subsidiary, Enovum Data Centers Corp. (the “ Buyer”), entered into a real estate purchase
and sale agreement, dated as of April 10, 2025 (the “ Purchase Agreement”) with Unifi Manufacturing, Inc. (“ UMI”),
a wholly owned subsidiary of Unifi, Inc. (“ Unifi”). Pursuant to the Purchase Agreement, UMI agreed to sell to Buyer, and Buyer
agreed to purchase from UMI, an industrial/manufacturing building together with the underlying land located in Madison, North Carolina,
as well as certain machinery and equipment located thereon, for a cash purchase price of $53.2 million (the “ Purchase Price”).
An earnest money deposit of $2.25 million was deposited in escrow pursuant to the terms of the Purchase Agreement, of which $1.2 million
is non-refundable to Buyer. The closing of the transaction contemplated by the Purchase Agreement (the “ Closing”) is expected
to occur on May 15, 2025, unless accelerated by Buyer pursuant to the terms of the Purchase Agreement.

The Purchase Agreement contains customary representations
and warranties, which shall survive for twelve months following the Closing. Pursuant to the terms of the Purchase Agreement, UMI shall
not have indemnification obligations for the breach of representations and warranties made in the Purchase Agreement until all losses
of Buyer, individually or in the aggregate, equal to or exceed $0.1 million, in which case UMI shall be obligated to indemnify Buyer from
and against such losses in an amount not to exceed ten percent (10%) of the Purchase Price. The Purchase Agreement contains customary
closing conditions, as well as a condition requiring the Buyer’s receipt of an energy study verifying the potential energy capacity
of the Property (as defined in the Purchase Agreement).

The foregoing description of the Purchase Agreement
is qualified in its entirety by reference to the text of such agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated
herein by reference with confidential or immaterial terms, provisions, and information redacted. Capitalized terms used, but not defined
herein, shall have the respective meanings given to them in the Purchase Agreement.

Item 9.01. Financial Statements and Exhibits.

(d