Company: BTBT
Filing Date: 2025-10-31
Form Type: S-3ASR
Source: 0001213900-25-104745
Chunk: 20

Company: Bit Digital, Inc
Filing Date: 2025-10-31
Form: S-3ASR
Chunk 20
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 to shareholders, all material information reasonably available regarding a significant transaction.
The duty of loyalty requires that a director act in a manner he reasonably believes to be in the best interests of the corporation. He
must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the
best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling
shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed
basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation and its shareholders.
However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning
a transaction by a director, the director must prove the procedural fairness of the transaction, and that the transaction was of fair
value to the corporation.

As a matter of Cayman Islands
law, a director owes three types of duties to the company: (i) statutory duties, (ii) fiduciary duties, and (iii) common
law duties. The Companies Act imposes a number of statutory duties on a director. A Cayman Islands director’s fiduciary duties are
not codified, however the courts of the Cayman Islands have held that a director owes the following fiduciary duties (a) a duty to
act in what the director bona fide considers to be in the best interests of the company, (b) a duty to exercise their powers for
the purposes they were conferred, (c) a duty to avoid fettering his or her discretion in the future and (d) a duty to avoid
conflicts of interest and of duty. The common law duties owed by a director are those to act with skill, care and diligence that may reasonably
be expected of a person carrying out the same functions as are carried out by that director in relation to the company and, also, to act
with the skill, care and diligence in keeping with a standard of care commensurate with any particular skill they have which enables them
to meet a higher standard than a director without those skills. In fulfilling their duty of care to us, our directors must ensure compliance
with our Articles, as amended and restated from time to time. We have the right to seek damages where certain duties owed by any of our
directors are breached.

Shareholder Action