Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 87

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 87
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 conduct risk assessments, annual cybersecurity audits and set up notice and opt-out and access procedures for the
use of automated decision-making technology. These proposed new requirements could increase our costs of compliance and impact our operations
and the products and services we offer.

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In
addition, Iowa, Delaware, Maine, Virginia, Colorado, Utah, Oregon, Montana, Nebraska, New Hampshire, New Jersey, Texas, Utah and Connecticut
enacted privacy and data protection laws in recent years that are currently in effect and grant similar rights and impose similar obligations
as the CCPA. New privacy laws enacted in Maryland, Minnesota, Rhode Island, and Tennessee will take effect over the next couple years.
Other states in the U.S. are also separately proposing laws to regulate privacy and security of personal data. Our failure, and/or the
failure by the various third party vendors and service providers with which we do business, to comply with applicable privacy policies
or federal or state laws or changes in applicable laws and regulations, or any compromise of security that results in the unauthorized
release of personal information or other user data could damage our reputation and the reputation of our third party vendors and service
providers, discourage potential users from trying their products and services and/or result in fines and/or proceedings by governmental
agencies and/or consumers, any one or all of which could adversely affect our business, financial condition and results of operations
and, as a result, our company. In addition, we, our subsidiaries or our business affiliates may not have adequate insurance coverage to
compensate for losses.

Foreign
data privacy laws, such as the General Data Protection Regulation (“GDPR”) in the European Union and the United Kingdom Data
Protection Act (“UK GDPR”) impose data privacy and security requirements that may impact our ability to collect and process
personal information of residents of the EU and the UK. The transfer of personal information from such jurisdictions may be subject to
additional restrictions and require the use of transfer mechanisms recognized by GDPR and UK GDPR, such as the use of Standard Contractual
Clauses, which impose numerous obligations on data importers and exporters. Violations of the GDPR or UK GDPR could impose us to fines
of up to €20 million, or up to 4% of the annual worldwide turnover of the preceding financial year, whichever is greater.

Existing and increasing legal and regulatory requirements could adversely affect our results of operations.

We
are subject to a wide range of laws, regulations, and legal requirements in the