Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 53

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 53
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 any time during the period from, and including, the date that is six months after the last date of original issuance
of the notes until the close of business on the business day immediately preceding September 15, 2028 (other than a conversion in connection
with a make-whole fundamental change), we will increase the conversion rate per $1,000 principal amount of notes to be converted by a
number of additional ordinary shares (such increase, an “interest make-whole conversion rate adjustment”) equal to (i) the
sum of the remaining scheduled payments of interest that would have been made on $1,000 principal amount of the notes to be converted
had such notes remained outstanding from the conversion date through October 1, 2028, divided by (ii) the greater of (x) the conversion
price as of the applicable conversion date and (y) the simple average of the daily VWAP (as defined under “Description of the Notes—Settlement
upon Conversion”) of the ordinary shares for the ten consecutive trading days ending on and including the trading day immediately
preceding such conversion date.

Notwithstanding the foregoing, if a conversion date occurs after the close of business on a regular record date but prior to the open of business on the interest payment date corresponding to such regular record date, the interest make-whole conversion rate adjustment shall be reduced by an amount per $1,000 principal amount of notes to be converted equal to (i) the scheduled payment of interest that would have been made on $1,000 principal amount of the notes to be converted on such interest payment date, divided by (ii) the greater of (x) the conversion price as of the applicable conversion date and (y) the simple average of the daily VWAP (as defined under “Description of the Notes—Settlement upon Conversion”) of the ordinary shares for the ten consecutive trading days ending on and including the trading day immediately preceding such conversion date.

Notwithstanding the foregoing,
if in connection with a conversion of notes, the conversion rate is adjusted as described under “Description of the Notes—Increase
in Conversion Rate upon Conversion upon a Make-Whole Fundamental Change” or “Description of the Notes—Adjustment to
Conversion Rate upon Conversion in Connection with an Optional Redemption,” then such converting holder will not receive the interest
make-whole conversion rate adjustment with respect to such notes. None of the trustee, paying agent or conversion agent shall be responsible
for determining or calculating the interest make-whole conversion rate adjustment. Holders