Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 199

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1
Chunk 199
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 and digital assets generally.

38

The outcome of these
factors could have negative effects on our ability to continue as a going concern or to pursue our business strategy at all, which could
have a material adverse effect on our business, prospects or operations as well as potentially negative effect on the value of any bitcoin
or other digital assets we mine or otherwise acquire or hold for our own account, which would harm investors in our securities.

Banks and financial
institutions may not provide banking services, or may cut off services, to businesses that engage in cryptocurrency-related activities
or that accept digital assets as payment, including financial institutions of investors in our securities.

A number of companies
that engage in bitcoin and/or other bitcoin-related activities have been unable to find banks or financial institutions that are willing
to provide them with bank accounts and other services. This is particularly true as a result of recent bank failures, which were connected
to cryptocurrency activities. Similarly, a number of companies and individuals or businesses associated with digital assets may have had
and may continue to have their existing bank accounts closed or services discontinued with financial institutions in response to government
action, particularly in China, where regulatory response to digital assets has been to exclude their use for ordinary consumer transactions
within its jurisdiction.

Subject to such restrictions,
we also may be unable to obtain or maintain these services for our business. The difficulty that many businesses in our industry and in
related industries have and may continue to have in finding banks and financial institutions willing to provide them services may now,
and in the future, decrease the usefulness of digital assets as a payment system, harm public perception of digital assets and decrease
their usefulness.

The usefulness of digital
assets as a payment system and the public perception of digital assets could be damaged if banks or financial institutions were to close
the accounts of businesses engaging in bitcoin and/or other bitcoin-related activities. This could occur as a result of compliance risk,
cost, government regulation or public pressure. The risk applies to securities firms, clearance and settlement firms, national stock and
derivatives on commodities exchanges, the over-the-counter market, and the Depository Trust Company, which, if any of such entities adopts
or implements similar policies, rules or regulations, could negatively affect our relationships with financial institutions and impede
our ability to convert digital assets to fiat currencies. Such factors could have a material adverse effect on our ability to continue
as a going concern or to pursue our new strategy at all, which could have a material adverse effect on our business,