Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 47

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 47
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Our operating results have fluctuated due to the highly volatile nature of digital assets.

Due to the highly volatile nature and the prices
of digital assets, our operating results have, fluctuated from quarter to quarter in accordance with market sentiments and movements in
the broader digital assets economy. Our operating results fluctuated significantly prior to our introduction of cloud services and HPC
data centers as a result of a variety of factors, many of which are unpredictable and in certain instances are outside of our control,
including, but not limited to:

| ● | acceptance of digital assets as a result of reputational harm from bankruptcies                                                             
 and regulatory proceedings;                                                                                                                 |
| ● | changes in the legislative or regulatory environment, or actions by governments or regulators, including fines, orders, or consent decrees; |

| ● | regulatory changes that impact our ability to mine various digital assets; |

| ● | our ability to transition to become a pure-play Ethereum staking and 
 treasury company;                                                    |

| ● | investments we make in the development of our business as well as technology offered to our industry partners and sales and marketing; |

| ● | macroeconomic conditions; |

| ● | adverse legal proceedings or regulatory enforcement actions, judgments, settlements, or other legal proceeding and enforcement-related costs; |

| ● | increases in operating expenses that we expect to incur to grow and expand our operations and to remain competitive; |

| ● | breaches of security or privacy; |

| ● | our ability to attract and retain talent; and |

| ● | our ability to compete with our competitors. |

As a result of these factors, it is difficult
for us to forecast growth trends in our digital assets business. In view of the rapidly evolving nature of our business and the digital
assets industry, period-to-period comparisons of our operating results may not be meaningful, and you should not rely upon them as an
indication of future performance. Quarterly and annual expenses reflected in our financial statements may be significantly different from
historical or projected rates. Our operating results in one or more future quarters may fall below the expectations of securities analysts
and investors. As a result, the trading price of our Ordinary Shares may increase or decrease significantly. See “The price of digital assets may be affected by the sale of such digital assets by other vehicles investing in digital assets or tracking bitcoin markets.”

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Unfavorable Digital Asset Market Conditions

The prices of digital assets, including bitcoin,
have experienced substantial volatility, as described above. During