Company: BTBT
Filing Date: 2025-06-18
Form Type: S-3/A
Source: 0001213900-25-055565
Chunk: 40

Company: Bit Digital, Inc
Filing Date: 2025-06-18
Form: S-3/A
Chunk 40
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 shareholders generally. In general, actions of a director are presumed to have been made on an informed
basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation and its shareholders.
However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning
a transaction by a director, the director must prove the procedural fairness of the transaction, and that the transaction was of fair
value to the corporation.

As a matter of Cayman
Islands law, a director owes three types of duties to the company: (i) statutory duties, (ii) fiduciary duties, and (iii) common
law duties. The Companies Act imposes a number of statutory duties on a director. A Cayman Islands director’s fiduciary duties
are not codified, however the courts of the Cayman Islands have held that a director owes the following fiduciary duties (a) a duty
to act in what the director bona fide considers to be in the best interests of the company, (b) a duty to exercise their powers
for the purposes they were conferred, (c) a duty to avoid fettering his or her discretion in the future and (d) a duty to avoid
conflicts of interest and of duty. The common law duties owed by a director are those to act with skill, care and diligence that may
reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and,
also, to act with the skill, care and diligence in keeping with a standard of care commensurate with any particular skill they have which
enables them to meet a higher standard than a director without those skills. In fulfilling their duty of care to us, our directors must
ensure compliance with our Articles, as amended and restated from time to time. We have the right to seek damages where certain duties
owed by any of our directors are breached.

Shareholder Action by Written Consent. Under the Delaware General Corporation Law, a corporation may eliminate the right of shareholders to act
by written consent by amendment to its certificate of incorporation. Cayman Islands law and our current articles of association provide
that shareholders may approve corporate matters by way of a unanimous written resolution signed by or on behalf of each shareholder who
would have been entitled to vote on such matter at a general meeting without a meeting being held.

Shareholder Proposals.
Under the