Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 21

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 21
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 continue to develop our business. If our management team, including any new hires that we may make, fails to work together
effectively and to execute our plans and strategies on a timely basis, our business could be harmed. Furthermore, if we fail to execute
an effective contingency or succession plan with the loss of any member of management, the loss of such management personnel may significantly
disrupt our business.

The loss of key members of
management could inhibit our growth prospects. Our future success also depends in large part on our ability to attract, retain and motivate
key management and operating personnel. As we continue to develop and expand our operations, we may require personnel with different skills
and experiences who have a sound understanding of our business. The market for highly qualified personnel in our industry is very competitive,
and we may be unable to attract or retain such personnel. If we are unable to attract or retain such personnel, our business could be
harmed.

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Our operations may be negatively affected if it is unable to obtain, develop and retain key personnel and skilled labor forces.

WhiteFiber must attract, develop
and retain executive officers and other professional, technical and labor forces with the skills and experience necessary to successfully
manage, operate and grow. We have recently hired certain key personnel for WhiteFiber, as well as the management team of Enovum. However,
competition for these employees is high, due, in part, to the nascent HPC Business workforce. In some cases, competition for these employees
is on a regional, national, or global basis. At times of low unemployment, it may be difficult for us to attract and retain qualified
and affordable personnel. A shortage in the supply of skilled personnel creates competitive hiring markets, increased labor expenses,
decreased productivity and potentially lost business opportunities to support our operating and growth strategies. Additionally, if we
are unable to hire employees with the requisite skills, it may be forced to incur significant training expenses. As a result, our ability
to maintain productivity, relationships with customers, competitive costs, and quality services are limited by the ability to employ,
retain and train the necessary skilled personnel and could negatively affect its results of operations, financial position and cash flows.

If we cannot maintain our corporate culture as we grow, we could lose the innovation, collaboration and focus that contribute to our business.

We believe that a critical
component of our success is our corporate culture, which we believe fosters innovation, encourages teamwork and cultivates creativity