Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 106

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 106
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 issuer before the SEC can prohibit an issuer’s securities from trading on any U.S. national securities exchange
and on the over-the- counter market. Accordingly, our securities may be prohibited from trading on Nasdaq or other U.S. stock exchange
if our auditor is not inspected by the PCAOB for two consecutive years, and this ultimately could result in our Ordinary Shares being
delisted.

On June 22, 2021, the U.S. Senate passed the Accelerating
Holding Foreign Companies Accountable Act, which if enacted into law, would amend the HFCA Act and require the SEC to prohibit an issuer’s
securities from trading on U.S. stock exchanges if its auditors are not subject to PCAOB inspections for two consecutive “non-inspection”
years instead of three. On September 22, 2021, the PCAOB adopted a final rule implementing the HFCA Act, which provides a framework for
the PCAOB to use when determining, as contemplated under the HFCA Act, whether the Board is unable to inspect or investigate completely
registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction.
On December 16, 2021, the PCAOB issued PCAOB Rule 6100 Board Determinations Under the Holding Foreign Companies Accountable Act. The PCAOB
notified the SEC that it was unable to inspect or investigate completely registered public accounting firms headquartered in mainland
China and in Hong Kong because of the positions taken by authorities in mainland China and Hong Kong. The PCAOB issued a Determination
Report on December 15, 2022, determining that the PCAOB secured complete access to inspect and investigate registered public accounting
firms headquartered in mainland China and Hong Kong, and vacating the 2021 Determinations to the contrary. However, the PCAOB further
noted that it will act immediately to consider the need to issue a new determination if the PRC authorities obstruct or otherwise fail
to facilitate the PCAOB’s access. While the audit report of Audit Alliance LLP included in this report was prepared by auditors
based in Singapore who are subject to inspection and investigation by the PCAOB, there can be no assurance that our auditor or we will
be able to comply with these and other requirements imposed by U.S. regulators in the future. The market prices of our Ordinary Shares
and/or other securities could be adversely affected as a result of possible negative impacts of the HFCA Act and other similar rules and
reg