Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 55

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 55
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 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 who convert their notes on or after the close
of business on September 15, 2028 will not receive any interest make-whole conversion rate adjustment with respect to such notes.

Exchange in Lieu of Conversion

When a holder surrenders its notes for conversion, we may, at our election (an “exchange election”), direct the conversion agent to deliver, on or prior to the business day immediately following the conversion date, such notes to one or more financial institutions designated by us for exchange in lieu of conversion. In order to accept any notes surrendered for conversion, the designated financial institution(s) must agree to timely pay or deliver, as the case may be, in exchange for such notes, cash, ordinary shares, or a combination of cash and ordinary shares, at our election, that would otherwise be due upon conversion as described above under “—Settlement upon Conversion” or such other amount agreed to by the holder and the designated financial institution(s) (the “conversion consideration”). If we make an exchange election, we will, by the close of business on the business day following the relevant conversion date, notify in writing the trustee, the conversion agent (if other than the trustee) and the holder surrendering its notes for conversion that we have made the exchange election and we will notify the designated financial institution(s) of the relevant deadline for delivery of the consideration due upon conversion and the type of conversion consideration to be paid and/or delivered, as the case may be.

Any notes delivered to the designated financial institution(s) will remain outstanding, subject to applicable DTC procedures. If the designated financial institution(s) agree(s) to accept any notes for exchange but does not timely pay and/or deliver, as the case may be, the related conversion consideration, or if such designated financial institution does not accept the notes for exchange, we will pay and/or deliver, as the case may be, the relevant conversion consideration, as