Company: BTBT
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0001213900-25-057847
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Company: Bit Digital, Inc
Filing Date: 2025-06-25
Form: 8-K
Item: Item 8.01
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Item
8.01 Other Events.

Subsidiary
Initial Public Offering

On
June 25, 2025, Bit Digital, Inc. (the “ Company”) issued a press release announcing
the proposed initial public offering of its wholly-owned HPC subsidiary, WhiteFiber, Inc.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein
by reference.

Business
Strategy Update

On
June 25, 2025, the Company also issued a press release announcing that it has initiated a strategic transition to become a pure play
Ethereum (“ ETH”) staking and treasury company. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated
herein by reference.

The
strategic transition reflects the Company’s long-standing conviction and expertise in the Ethereum ecosystem. The Company began
accumulating ETH and operating staking infrastructure in 2022 and has steadily increased its holdings since that time. As of March 31,
2025, the Company held 24,434 ETH, valued at approximately $44.6 million based on then-prevailing market prices. Of that total, 21,568
ETH was staked natively on the Ethereum network through a third-party validator operated by Figment Inc. For the year ended December
31, 2024, the Company generated an average of 3.2% annual percentage yield of ETH.

Given
increased regulatory clarity, including the recently passed GENIUS Act, the Company views ETH as a digitally native store of value and
foundational infrastructure for decentralized applications and stablecoins. Accordingly, the Company intends to grow its ETH position
over time, supported by staking rewards. Through staking, the Company earns rewards that can be reinvested into ETH or used for general
corporate purposes. The Company believes that its strategy will drive growth in ETH per ordinary share outstanding.

The
Company safeguards its ETH using institutional-grade custodians, including Fireblocks Inc. and Cactus Custody Holding Company. Over time,
management expects ETH holdings and staking income to represent the primary source of shareholder value. This strategy marks a significant
evolution of the Company’s business model, aligning its capital structure and value proposition with the performance of ETH and
associated network economics. The Company believes this approach offers investors a liquid, regulated vehicle for long-term ETH exposure,
combining capital markets access with the income potential of Ethereum’s proof-of-stake network