Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 56

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 56
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 leads to ineffective decision making that slows development and
growth of such digital assets, the value of our Ordinary Shares may be adversely affected.

There is a lack of liquid markets for digital assets, and blockchain/bitcoin-based assets are susceptible to potential manipulation.

Digital assets that are represented and trade
on a ledger-based platform may not necessarily benefit from viable trading markets. Stock exchanges have listing requirements and vet
issuers; requiring them to be subjected to rigorous listing standards and rules and monitor investors transacting on such platform for
fraud and other improprieties. These conditions may not necessarily be replicated on a distributed ledger platform, depending on the platform’s
controls and other policies. As described above under “Unfavorable Digital Asset Market Conditions,” recent bankruptcies
in the digital assets industry involved platforms which were not publicly listed without regulatory supervision. The laxer a distributed
ledger platform is about vetting issuers of bitcoin assets or users that transact on the platform, the higher the potential risk for fraud
or the manipulation of the ledger due to a control event. These factors may decrease liquidity or volume or may otherwise increase volatility
of investment securities or other assets trading on a ledger-based system, which may adversely affect us. Such circumstances could have
a material adverse effect 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 and potentially the value of any bitcoin or other digital assets we mine
or otherwise acquire or hold for our own account and harm investors.

Our operations, investment strategies and profitability may be adversely affected by competition from other methods of investing in digital assets.

We compete with other users and/or companies that
are mining digital assets and other potential financial vehicles, including securities backed by or linked to digital assets through entities
similar to us. Market and financial conditions, and other conditions beyond our control, may make it more attractive to invest in other
financial vehicles, or to invest in digital assets directly, which could limit the market for our shares and reduce their liquidity. The
emergence of other financial vehicles and exchange-traded funds have been scrutinized by regulators and such scrutiny and the negative
impressions or conclusions resulting from such scrutiny could be applicable to us and impact our ability to successfully pursue our business
strategy or operate at all, or to maintain a public market for our securities. Such circumstances could have a material adverse effect
on our ability to continue as a going concern or to pursue our business strategy at all