Company: BTBT
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0001213900-25-059080
Chunk: 0

Company: Bit Digital, Inc
Filing Date: 2025-06-27
Form: 8-K
Item: Item 1.01
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Item 1.01

Entry into a Material Definitive Agreement.

On June 25, 2025, Bit Digital, Inc.
(the “ Company”) entered into an underwriting agreement (the “ Underwriting Agreement”) with B. Riley Securities,
Inc., as the sole book-running manager and representative of the several underwriters listed therein (the “ Underwriters”),
in connection with a public offering (the “ Offering”) of ordinary shares, par value $.01 per share (the “ Ordinary Shares”),
of the Company, pursuant to which the Company agreed to issue and sell 75,000,000 Ordinary Shares (the “ Base Shares”), and
the Underwriters agreed to purchase the Base Shares, at a price of $1.90 per share. In addition, the Company granted the Underwriters
a 30-day option to purchase up to an additional 11,250,000 Ordinary Shares (the “ Optional Shares” and, together with the Base
Shares, the “ Shares”) at the same price per share as the Base Shares. The Offering closed on June 27, 2025.

The estimated net proceeds from the
Offering will be approximately $141.5 million, or approximately $162.9 million if the Underwriters exercise in full their option to purchase
the Optional Shares, after deducting the underwriting discount and estimated offering expenses.

The Offering is being made pursuant
to the Company’s registration statement on Form S-3 (Registration No. 333-286841), as amended, which was originally filed on April
30, 2025 with the Securities and Exchange Commission (the “ SEC”), and a prospectus supplement, dated June 25, 2025, and accompanying
prospectus, dated June 20, 2025.

The Underwriting Agreement contains
customary representations, warranties and agreements by the Company and customary conditions to closing, obligations of the parties and
termination provisions. Additionally, the Company has agreed to indemnify the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended, or to contribute to payments the Underwriters may be required to make because of any of
those liabilities.

The foregoing description of the Underwriting
Agreement is qualified in its entirety by reference to the complete text of the Underwriting Agreement, a copy of which is filed herewith
as Exhibit 1.1 and is incorporated herein by reference.

A copy of the opinion of Ogier (Cayman)
LLP relating