Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 11

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 11
---
 August 8, 2025, WhiteFiber completed its initial public offering (the “WhiteFiber IPO”) of 9,375,000 ordinary shares, at a public offering price of $17.00 per share. All ordinary shares in the WhiteFiber IPO were sold by WhiteFiber. The gross proceeds to WhiteFiber from the WhiteFiber IPO were $159,375,000, before deducting underwriting discounts and commissions and offering expenses payable by WhiteFiber. WhiteFiber granted a 30-day option to the underwriters of the WhiteFiber IPO to purchase up to 1,406,250 additional WhiteFiber ordinary shares at the public offering price of $17.00 per share. On September 2, 2025, the underwriters fully exercised their option, resulting in additional gross proceeds to the Company of approximately $23.9 million. The exercise of the over-allotment option closed on September 4, 2025.

<div align='center'>S-2</div>

Prior to the consummation of the WhiteFiber IPO, the Company held all of the issued and outstanding ordinary shares of WhiteFiber. After giving effect to the WhiteFiber IPO (including the underwriters’ exercise of their option to purchase additional ordinary shares), the Company holds approximately 71.5% of the issued and outstanding ordinary shares of WhiteFiber.

WhiteFiber operates the Company’s
HPC business. WhiteFiber intends to complete its Tier-3 data center expansion project near Montreal, Canada (referred to as MTL-2) in
the first half of 2026 as it prioritizes other builds and preserved capital for more time-sensitive projects, its data center site in
Saint-Jerome, Quebec, a suburb of Montreal (referred to as MTL-3) in the fourth quarter of 2025, and the first 24 MW (gross) of its industrial/manufacturing
building together with the underlying land located in Madison, North Carolina (referred to as NC-1) in the first quarter of 2026. While
NC-1 is expected to be completed in the first quarter of 2026, WhiteFiber management expects it will start generating revenue in May of
2026.

Registered Direct Offering

On July 14, 2025, we entered into a placement agency agreement with B. Riley Securities, Inc., pursuant to which B. Riley Securities, Inc. agreed to serve as the