Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 55

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 55
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 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) shall become effective immediately after the open of business on the ex-dividend date for such dividend or distribution,
or immediately after the open of business on the effective date for such share split or share combination, as applicable. If any dividend
or distribution of the type described in this clause (1) is declared but not so paid or made, the conversion rate shall be immediately
readjusted, effective as of the date our board of directors or a committee thereof determines not to pay such dividend or distribution,
to the conversion rate that would then be in effect if such dividend or distribution had not been declared.

| 2.