Company: BTBT
Filing Date: 2025-07-03
Form Type: S-8 POS
Source: 0001213900-25-061371
Chunk: 100

Company: Bit Digital, Inc
Filing Date: 2025-07-03
Form: S-8 POS
Chunk 100
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 depictions on one or
more blockchains. Because our business requires us to download and retain one or more blockchains to effectuate our ongoing business,
it is possible that such digital ledgers contain prohibited depictions without our knowledge or consent. To the extent government enforcement
authorities enforce these and other laws and regulations that are impacted by decentralized distributed ledger technology, we may be subject
to investigation, administrative or court proceedings, and civil or criminal monetary fines and penalties, all of which could harm our
reputation and affect the value of our Ordinary Shares.

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If regulatory changes or interpretations of our activities require our registration as a money services business (“MSB”) under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act (“BSA”), or otherwise under state laws, we may incur significant compliance costs, which could be substantial or cost-prohibitive. If we become subject to these regulations, our costs in complying with them may have a material negative effect on our business and the results of our operations.

To the extent that our activities cause us to
be deemed a money service business (MSB) under the regulations promulgated by FinCEN under the authority of the U.S. Bank Secrecy Act,
we may be required to comply with FinCEN regulations, including those that would mandate us to implement anti-money laundering programs,
make certain reports to FinCEN and maintain certain records. The Digital Asset Anti-Money Laundering Act of 2022 (DAAMLA) was introduced
on December 14, 2022 in the Senate. The bill would authorize FinCEN to designate digital asset wallet providers, miners, validators, and
other select network participants as MSBs. This designation would require these parties to register with FinCEN and would extend to these
parties’ anti-money laundering (AML) responsibilities under the BSA.

To the extent that our activities cause us to
be deemed an MSB and/or a “money transmitter” (“MT”) or equivalent designation, under state law in any state in
which we operate (currently, Texas, Kentucky and New York), we may be required to seek a license or otherwise register with a state regulator
and comply with state regulations that may include the implementation of AML programs, maintenance of certain records and other operational
requirements. Such additional federal or state regulatory obligations may cause us to incur extraordinary expenses, possibly affecting
an investment in our securities