Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 56

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 56
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, and at the time, required pursuant to the indenture as if we had not made the exchange election.

Our designation of any financial institution(s) to which the notes may be submitted for exchange does not require such financial institution(s) to accept any notes.

<div align='center'>S-32</div>

Conversion Rate
Adjustments

The conversion rate will be
adjusted as described below, except that we will not make any adjustments to the conversion rate if holders of the notes participate (other
than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the same time and upon the same terms
as holders of the ordinary shares and solely as a result of holding the notes, in any of the transactions described below without having
to convert their notes as if they held a number of ordinary shares equal to the conversion rate, multiplied by the principal amount (expressed
in thousands) of notes held by such holder. Neither the trustee nor the conversion agent shall have any responsibility to monitor the
accuracy of any calculation of any adjustment to the conversion rate and the same shall be conclusive and binding on the holders, absent
manifest error. Notice of such adjustment to the conversion rate will be given by us promptly in writing to the holders, the trustee and
the conversion agent and shall be conclusive and binding on the holders, absent manifest error.

| 1. | If we exclusively issue ordinary shares as a dividend or distribution on the ordinary shares, or if we          
 effect a share split or share combination, the conversion rate will be adjusted based on the following formula: |

where,

| CR0 | = | the conversion rate in effect immediately prior to the open of business on the ex-dividend date of such dividend or distribution, or immediately prior to the open of business on the effective date of such share split or share combination, as applicable; |
| CR1 | = | the conversion rate in effect immediately after the open of business on such ex-dividend date or effective date, as applicable;                                                                                                                               |
| OS0 | = | the number of ordinary shares issued and outstanding immediately prior to the open of business on such ex-dividend date or effective date, as applicable (before giving effect to any such dividend, distribution, split or combination); and                 |
| OS1 | = | the number of ordinary shares issued and outstanding immediately after giving effect to such dividend, distribution, share split or share combination.                                                                                                        |

Any adjustment made under
this clause (1)