Company: BTBT
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001213900-25-094778
Chunk: 78

Company: Bit Digital, Inc
Filing Date: 2025-10-01
Form: 424B5
Chunk 78
---
 fundamental change occurring pursuant to clause (2)(A) or (B)) of the definition thereof), if:

| ● | such                                                                                             
 fundamental change constitutes a share exchange event for which the resulting reference property 
 consists entirely of cash in U.S. dollars;                                                       |

| ● | immediately                                                                                       
 after such fundamental change, the notes become convertible (pursuant to the provisions described 
 above under “—Conversion Rights—Recapitalizations, Reclassifications and                          
 Changes of the Ordinary Shares” and, if applicable, “—Conversion Rights—Adjustment                
 to Ordinary Shares Delivered upon Conversion upon a Make-Whole Fundamental Change”)               
 into consideration that consists solely of U.S. dollars in an amount per $1,000 principal         
 amount of notes that equals or exceeds the fundamental change repurchase price per $1,000         
 principal amount of notes (calculated assuming a fundamental change repurchase date that          
 results in a fundamental change repurchase price that includes the maximum amount of accrued      
 interest); and                                                                                    |

| ● | we                                                                                                
 timely send the notice relating to make-whole fundamental change associated with such fundamental 
 change required pursuant to the provisions described above under “—Adjustment                     
 to Ordinary Shares Delivered upon Conversion upon a Make-Whole Fundamental Change.”               |

We refer to any fundamental change with respect to which, in accordance with the provisions described above, we do not offer to repurchase any notes as an “exempted fundamental change.”

Notwithstanding anything to the contrary, to the extent that provisions of any federal or state securities laws or other applicable laws or regulations adopted after the date on which the notes are first issued conflict with the provisions of the indenture relating to our obligations to repurchase the notes upon a fundamental change, we will comply with the applicable securities laws and regulations and will not be deemed to have breached our obligations under such provisions of the indenture by virtue of such conflict.

The term fundamental change is limited to specified transactions and may not include other events that might adversely affect our financial condition. In addition, the requirement that we offer to repurchase the notes upon a fundamental change may not protect holders in the event of a highly leveraged transaction, reorganization, merger or similar transaction involving us.

The definition of fundamental change includes a phrase relating to the sale, lease or other transfer of “all or substantially all” of our consolidated assets. There is no precise, established definition of the phrase “substantially all” under applicable law. Accordingly, the ability of a holder of the notes to require