Company: BTBT
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061020
Chunk: 120

Company: Bit Digital, Inc
Filing Date: 2025-07-02
Form: S-8
Chunk 120
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 fifty (50) votes, which equals approximately 17.6% of the voting power of our 283,530,871 outstanding Ordinary Shares as
of June 30, 2025 or approximately 15% of all votes cast on an as-converted basis. In 2021, the Board authorized the exchange of 1,000,000
Ordinary Shares beneficially held by Messrs. Huang and Deng for an equivalent number of preferred shares to enable them to carry out the
Company’s business plan without the threat of a hostile takeover. Nevertheless, as a result of their shareholdings, Mr. Huang and
Mr. Deng may be able to control the vote over decisions regarding mergers, consolidations and the sale of all or substantially all of
our assets, the election of directors, and other significant corporate actions. They may take action that is not in the best interests
of our other shareholders. This concentration of voting power may discourage or delay our Company, which could deprive our shareholders
of an opportunity to receive a premium for their shares as part of the sale of our Company and might reduce the market price of our Ordinary
Shares. These actions may be taken even if they are opposed by our other shareholders.

The dual class structure of our authorized share capital may concentrate voting control with holders of our preference shares, should we issue any, and the holders of such preference shares may not be aligned with the interests of our other shareholders.

For all matters relating
to the Company requiring the votes of shareholder by a poll or by proxy, each preference share shall carry the equivalent number of votes
as 50 ordinary shares.

Holders of preference
shares may be able to take actions that are not in the best interests of us or our other shareholders. These corporate actions may be
taken even if they are opposed by our other shareholders. This may also frustrate or prevent any attempts by our shareholders to replace
or remove our current management by making it more difficult for shareholders to replace members of our board of directors, which is responsible
for appointing the members of our management. In addition, this may make an acquisition of us, which may be beneficial to our shareholders,
more difficult and may prevent attempts by our shareholders to replace or remove our current management and limit the market price of
our Ordinary Shares. Further, such concentration of voting power may discourage, prevent, or delay the consummation of recent change of
control transactions that shareholders may consider favorable, including transactions in which shareholders might otherwise receive a