Company: BTBT
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001213900-25-093122
Chunk: 22

Company: Bit Digital, Inc
Filing Date: 2025-09-29
Form: 424B5
Chunk 22
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 such notice, as described below under “Description of the Notes—Conversion
Rights—Adjustment to Ordinary Shares Delivered upon Conversion upon a Make-Whole Fundamental Change” and “—Adjustment
to Conversion Rate upon Conversion in Connection with an Optional Redemption.” The adjustment to the conversion rate for notes converted
in connection with a make-whole fundamental change or such redemption may not adequately compensate you for any lost value of your notes
as a result of such transaction or such redemption. Furthermore, if we call only a portion of the outstanding notes for optional redemption,
only those notes called (or deemed called) for optional redemption will become convertible as a result of such call for optional redemption
and only the conversion rate of notes converted in connection with such notice of redemption will be increased. Accordingly, notes not
called (or not deemed called) for optional redemption will not become convertible if not otherwise convertible at such time and will remain
outstanding, and may have reduced liquidity and a resulting reduced trading price. In addition, if the price paid (or deemed paid) per
ordinary share in the transaction or the market price prior to such redemption is greater than $
per ordinary share or less than $
per ordinary share (in each case, subject to adjustment), no additional ordinary shares will be added to the conversion rate for the notes.
Moreover, in no event will the conversion rate per $1,000 principal amount of notes as a result of this adjustment exceed ordinary
shares, subject to adjustments in the same manner as the conversion rate as set forth under “Description of the Notes—Conversion
Rights—Conversion Rate Adjustments.”

<div align='center'>S-12</div>

Our obligation to increase the conversion rate for notes converted in connection with a make-whole fundamental change or notes called (or deemed called) for redemption that are converted during the related redemption period could be considered a penalty, in which case the enforceability thereof would be subject to general principles of reasonableness and equitable remedies.

For conversions from, and including, the date that is six months after the last date of original issuance of the notes until the close of business on the business day immediately preceding September 15, 2028, we will be required to increase the conversion rate by a number of additional ordinary shares, which could result in significant dilution to our stockholders.

We will increase the conversion
rate by a number of additional ordinary shares for a holder who elects to convert its notes during the period from, and including, the
date that is six months after