Company: BTBT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044155
Chunk: 163

Company: Bit Digital, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 163
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 terms.

We have sold and intend to continue to offer and sell equity securities
from time to time in one or more offerings at the market (ATM) at prices and on terms which the Company will then determine for an initial
aggregate offering price of $500 million pursuant to a registration statement on Form F-3 declared effective by the SEC on May 4, 2022.
On April 29, 2025, we filed a new ATM Registration Statement on Form S-3 to offer up to an additional $500 million of our ordinary shares.
When this registration statement is declared effective it will replace the existing registration statement which has been extended until
November 4, 2025.

Under the Company’s Purchase Agreement with
Ionic Ventures LLC, the Company had the right, but not the obligation, to sell to Ionic up to $22 million of registered Ordinary Shares.

Between May and August 2023, the Company issued
an aggregate of 6,747,663 ordinary shares to Ionic Ventures LLC for gross proceeds of $22.0 million. The Company received net proceeds
of approximately $21.0 million after deducting commissions payable to the placement agent.

In August and September 2023, the Company sold
an aggregate of 781,602 ordinary shares in connection with the at-the-market offering. The Company received net proceeds of $1.9 million,
net of offering costs.

In the fourth quarter of 2023, the Company sold
an aggregate of 13,962,424 ordinary shares in connection with the at-the-market offering. The Company received net proceeds of $43.3 million,
net of offering costs.

In the first quarter of 2024, the Company sold
an aggregate of 12,871,934 ordinary shares in connection with the at-the-market offering. The Company received net proceeds of $38.7 million,
net of offering costs.

In the second quarter of 2024, the Company sold
an aggregate of 16,237,292 ordinary shares in connection with the at-the-market offering. The Company received net proceeds of $41.6 million,
net of offering costs.

In the third quarter of 2024, the Company sold
an aggregate of 14,025,827 ordinary shares in connection with the at-the-market offering. The Company received net proceeds of $51.4 million,
net of offering costs.

In the fourth quarter of 2024, the Company sold
an aggregate of 24,111,575 ordinary shares in connection with