Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 872

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1B
Chunk 872
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 or achievements to differ materially from those discussed in our such
forward-looking statements as a result of many factors, including, but not limited to: our ability to integrate the operations of Enovum
into our HPC Services business segment; our ability to purchase GPUs on a timely basis to service our initial HPC customers; supply chain
disruptions may have a material adverse effect on the Company’s performance; the ability to establish new facilities for bitcoin
mining in North America and elsewhere; a decrease in cryptocurrency migrating and then operating its assets; a decrease in cryptocurrency
pricing; volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability
and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on
the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital
currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; issues
in the development and use of AI; regulations that target AI, and governmental regulations and other legal obligations and other legal
obligations related to data privacy, data protection and information security, and other related risks as more fully set forth under “Risk
Factors” and elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2024 and other documents disclosed under
the Company’s filings at www.sec.gov.

Notwithstanding the fact that Bit Digital Inc.
has not conducted operations in the PRC since September 30, 2021 we have disclosed under Risk Factors in our Annual Report on Form 10-K
for the year ended December 31,2024: “We may be subject to fines and penalties for any noncompliance with or any liabilities in
our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former
business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the authority may still find
its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five
years.

The forward-looking information in this report
reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.
In connection with the forward-looking information contained in this report, the Company has made assumptions about: the current profitability
in