Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 70

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 70
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pay additional amounts, if any, with respect to any such conversion.

A conversion of notes called
(or deemed called) for redemption shall be deemed to be in connection with an optional redemption if such conversion occurs during the
related redemption period. In the event that a conversion of notes called (or deemed called) for redemption in connection with an optional
redemption would also be deemed to be in connection with a make-whole fundamental change or any other redemption, a holder of the notes
to be converted will be entitled to a single increase to the conversion rate with respect to the first to occur of the applicable notice
of redemption and the effective date of the applicable make-whole fundamental change, and the later event will be deemed not to have occurred
for purposes of this section and the adjustments described under “—Adjustment to Ordinary Shares Delivered upon Conversion
upon a Make-Whole Fundamental Change.” For the avoidance of doubt, if we issue a notice of redemption as set forth under “—Optional
Redemption,” we will increase the conversion rate hereunder during the related redemption period only with respect to conversions
of notes called (or deemed called) for redemption. Accordingly, if we elect to redeem fewer than all of the outstanding notes as described
under “—Optional Redemption,” holders will not be entitled to convert the notes that are neither called for redemption
nor deemed to be called for redemption on account of the notice of redemption and will not be entitled to an increased conversion rate
for conversions of such notes on account of the notice of redemption during the related redemption period, even if such notes are otherwise
convertible.

The number of additional ordinary
shares by which the conversion rate will be increased in the event of conversion of notes called for redemption in connection with an
optional redemption will be determined by reference to the table under “—Adjustment to Ordinary Shares Delivered upon Conversion
upon a Make-Whole Fundamental Change,” based on the redemption reference date and the redemption reference price (each as defined
below), but determined for purposes of this section as if (x) the holder had elected to convert its notes called for redemption in connection
with a make-whole fundamental change, (y) the applicable redemption reference date were the “effective date” and (z) the applicable
redemption reference price were the “ordinary share price” (and subject, for the avoidance of doubt, to the two paragraphs
immediately following such table). For this purpose, the date on which we deliver notice of redemption is the “redemption reference