Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 106

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 106
---
 for the SEC to identify issuers whose audit reports are prepared by auditors that the PCAOB is
unable to inspect or investigate completely because of a restriction imposed by a non-U.S. authority in the auditor’s local jurisdiction.
The HFCA Act also requires public companies on this SEC list to certify that they are not owned or controlled by a foreign government
and make certain additional disclosures in their SEC filings. In addition, under the HFCA Act, if the auditor of a U.S. listed company’s
financial statements is not subject to PCAOB inspections for three consecutive “non-inspection” years, the SEC is required
to prohibit the securities of such issuer from being traded on a U.S. national securities exchange, such as the NYSE and Nasdaq, or in
the U.S. over-the-counter markets. On December 29, 2022, the Consolidated Appropriations Act, 2023 was signed into law, which, among
other things, amended the HFCA Act to reduce from three years to two years the number of consecutive years an issuer can be identified
as an identified issuer before the SEC can prohibit an issuer’s securities from trading on any U.S. national securities exchange
and on the over-the- counter market. Accordingly, our securities may be prohibited from trading on Nasdaq or other U.S. stock exchange
if our auditor is not inspected by the PCAOB for two consecutive years, and this ultimately could result in our Ordinary Shares being
delisted.

On June 22, 2021, the U.S. Senate passed the Accelerating
Holding Foreign Companies Accountable Act, which if enacted into law, would amend the HFCA Act and require the SEC to prohibit an issuer’s
securities from trading on U.S. stock exchanges if its auditors are not subject to PCAOB inspections for two consecutive “non-inspection”
years instead of three. On September 22, 2021, the PCAOB adopted a final rule implementing the HFCA Act, which provides a framework for
the PCAOB to use when determining, as contemplated under the HFCA Act, whether the Board is unable to inspect or investigate completely
registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction.
On December 16, 2021, the PCAOB issued PCAOB Rule 6100 Board Determinations Under the Holding Foreign Companies Accountable Act. The PCAOB
notified the SEC that it was unable to inspect or investigate