Company: BTBT
Filing Date: 2025-10-31
Form Type: S-3ASR
Source: 0001213900-25-104745
Chunk: 11

Company: Bit Digital, Inc
Filing Date: 2025-10-31
Form: S-3ASR
Chunk 11
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Cayman) LLP, our counsel
as to Cayman Islands law, has advised us that there is uncertainty as to whether the courts of the Cayman Islands would recognize or enforce
judgments of United States courts obtained against us or our directors or officers predicated upon the civil liability provisions of the
securities laws of the United States or any state in the United States; or entertain original actions brought in each respective jurisdiction
against us or our directors or officers predicated upon the securities laws of the United States or any state in the United States, so
far as the liabilities imposed by those provisions are penal in nature.

<div align='center'>4

DESCRIPTION OF SHARE CAPITAL</div>

The
following description sets forth certain general terms and provisions of the ordinary shares and preference shares to which any prospectus
supplement may relate.

In
this “Description of Share Capital” section, when we refer to “we,” “us” or “our” or when
we otherwise refer to ourselves, we mean Bit Digital, Inc., excluding, unless otherwise expressly stated or the context requires, our
subsidiaries.

General

We
are a Cayman Islands exempted company and our affairs are governed by our memorandum and articles of association (the “Articles”)
and the Companies Act (Revised) of the Cayman Islands, which we refer to as the Companies Act below, and the common law of the Cayman
Islands.

Our
authorized share capital is US$10,100,000 consisting of 1,000,000,000 ordinary shares, par value $0.01 per share and 10,000,000 preference
shares, par value $0.01 per share. As of October 20, 2025, there were 322,140,256 ordinary shares and 1,000,000 preference shares issued
and outstanding.

Ordinary Shares

Dividends. Subject
to the provisions of the Companies Act and any rights attaching to any class or classes of shares (including our preference shares) under
and in accordance with the Articles:

| (a) | the directors may declare dividends or distributions out of our funds which are lawfully available for 
 that purpose; and                                                                                      |

| (b) | our shareholders may, by ordinary resolution, declare dividends but no such dividend shall exceed the 
 amount recommended by the directors.                                                                  |

Subject to the requirements
of the Companies Act regarding the application of a company’s share premium account and with the sanction of an ordinary