Company: BTBT
Filing Date: 2025-06-18
Form Type: S-3/A
Source: 0001213900-25-055565
Chunk: 18

Company: Bit Digital, Inc
Filing Date: 2025-06-18
Form: S-3/A
Chunk 18
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 Shares may suffer
adverse tax consequences, including the treatment of gains realized on the sale of Ordinary Shares as ordinary income, rather than as
capital gain, the loss of the preferential income tax rate applicable to dividends received on Ordinary Shares by individuals who are
United States holders, and the addition of interest charges to the tax on such gains and certain distributions. A United States shareholder
of a PFIC generally may mitigate these adverse U.S. federal income tax consequences by making a Qualified Electing Fund (“QEF”)
election or, to a lesser extent, a mark-to-market election. The Company does not intend to provide the information necessary for United
States shareholders to make a QEF election if the Company is classified as a PFIC for any year.

<div align='center'>4

USE OF PROCEEDS</div>

Unless otherwise indicated in a prospectus supplement,
we intend to use the net proceeds from the sale of securities under this prospectus for general corporate purposes, which may include
capital expenditures, funding potential acquisitions of additional new mining equipment, cloud services equipment, other potential acquisitions,
and general working capital. We will set forth in a prospectus supplement relating to a specific offering any intended use for the net
proceeds received from the sale of securities in that offering. We will have significant discretion in the use of any net proceeds. Investors
will be relying on the judgment of our management regarding the application of the proceeds of any sale of securities. We may invest
the net proceeds temporarily until we use them for their stated purpose, as applicable.

<div align='center'>ENFORCEABILITY OF CIVIL LIABILITIES</div>

We were incorporated in the Cayman Islands in
order to enjoy the following benefits:

| ● | political and economic                
 stability;                            |
| ● | an effective judicial system;         |
| ● | a favorable tax system;               |
| ● | the absence of exchange               
 control or currency restrictions; and |
| ● | the availability of professional      
 and support services.                 |

Our corporate affairs are governed by our amended
and restated memorandum and articles of association and by the Companies Act (Revised) of the Cayman Islands and common law of the Cayman
Islands. The rights of shareholders to take legal action against our directors and us, actions by minority shareholders and the fiduciary
responsibilities of our directors to us under Cayman Islands law are to a large extent governed by the common law of the Cayman Islands.
The common law of the