Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 15

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 15
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 a “Limit Up-Limit Down” program, the imposition of market-wide circuit breakers that halt trading of securities for certain periods following specific market declines, and the implementation of certain regulatory reforms required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. These circuit breakers have been tripped on several occasions during periods of increased market volatility and are likely to be tripped in the future. Any governmental or regulatory action that restricts or affects the ability of investors in, or potential purchasers of, the notes to effect short sales of ordinary shares, borrow ordinary shares or enter into swaps on ordinary shares could adversely affect the trading price and the liquidity of the notes. Other regulatory actions and events may also impact the trading price and liquidity of the notes and our ordinary shares.

In addition, the number of our ordinary shares available for lending in connection with short sale transactions and the number of counterparties willing to enter into an equity swap on our ordinary shares with a note investor may not be sufficient for the implementation of a convertible arbitrage strategy. These and other market events could make implementing a convertible arbitrage strategy prohibitively expensive or infeasible. We cannot assure you that a sufficient number of our ordinary shares will be available to borrow on commercial terms, or at all, to potential purchasers in this offering or holders of the notes. If investors in this offering or potential purchasers of the notes that seek to employ a convertible arbitrage strategy are unable to do so on commercial terms, or at all, then the trading price of, and the liquidity of the market for, the notes may significantly decline.

Volatility in the market price and trading volume of our ordinary shares could adversely impact the trading price of the notes.

The price of our ordinary shares may fluctuate due to a variety of factors, such as international currency fluctuations, corruption, political instability, and acts of war or terrorism. See “Risk Factors—The trading price of our ordinary shares is subject to pricing factors that are not necessarily associated with traditional factors that influence share prices or the value of non-bitcoin assets.”

In particular, the market price of our ordinary shares could be subject to extreme volatility and fluctuations in response to industry-wide developments beyond our control, given that the cryptocurrency industry continues to experience rapid evolutions and changes. The price of our ordinary shares may not be immune to unfavorable investor sentiment resulting from future developments in the broader cryptocurrency industry and the price of our ordinary shares may decline as a result.

A decrease in the market price of our ordinary shares would likely adversely impact the trading