Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 48

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 48
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 the year 2022, a number of companies in the digital assets industry
declared bankruptcy, including Core Scientific, Celsius Network, Voyager Digital Ltd., Three Arrows Capital, BlockFi, and FTX Trading
Ltd. (“FTX”) and concerning us, Compute North, as described in the following risk factor. Such bankruptcies have contributed,
at least in part, to further price decreases in bitcoin and other digital assets, a loss of confidence in the participants of the digital
asset ecosystem and negative publicity surrounding digital assets more broadly. The bankruptcies also led to various SEC and criminal
enforcement proceedings. All of the foregoing has had a macro decline in the price of securities of digital asset companies, including
ours.

Other than Compute North, we have not been directly
impacted by any of the recent bankruptcies in the digital asset space, as we have no contractual privity or relationship to the relevant
parties. The Company relocated its miners out of Compute North’s facilities to those hosted by Blockfusion and Coinmint in New York
State. However, termination of the Master Agreement with Compute North had an adverse effect on the Company’s business and financial
condition. Such recent events have contributed, at least in part, to our and our peers stock price as well as the price of bitcoin.
If the liquidity of the digital assets markets continues to be negatively impacted, digital asset prices (including the price of bitcoin)
may continue to experience significant volatility and confidence in the digital asset markets may be further undermined. A perceived lack
of stability in the digital asset exchange market and the closure or temporary shutdown of digital asset exchanges due to business failure,
hackers or malware, government-mandated regulation, or fraud, may reduce confidence in digital asset networks and result in greater volatility
in digital asset values. Any of these events may adversely affect our operations and results of operations and, consequently, an investment
in us.

We may be unable to raise additional capital needed to grow our business.

We may need to raise additional capital to expand
our ETH staking and treasury management operations, pursue our growth strategies and to respond to competitive pressures or working capital
requirements. While we have an effective $500,000,000 at the market shelf registration statement, we may not be able to obtain additional
debt or equity financing on favorable terms, which could impair our growth and adversely affect our existing operations. The global economy,
including credit and financial markets, has experienced extreme volatility and disruptions, including diminished credit availability,
rising interest and inflation