Tag: BTBT

Research News and Market Data on BTBT

• July 18, 2025

July 18, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), today announced that it has purchased approximately 19,683 Ethereum (“ETH”) using the net proceeds from its recently completed $67.3 million registered direct offering to institutional investors. Following the transaction, Bit Digital holds approximately 120,306 ETH.

“With approximately 120,000 ETH, Bit Digital is positioned among the largest institutional Ethereum treasuries in the public markets,” said Sam Tabar, Chief Executive Officer of Bit Digital. “We view Ethereum as foundational to the next phase of digital financial infrastructure. We believe Ethereum’s programmable nature, growing adoption, and staking yield model represent the future of digital assets, and we remain committed to scaling our ETH holdings as part of that long-term strategy.”

ETH is increasingly utilized across real economic activity, serving as the core collateral layer for stablecoins, tokenized assets, and decentralized applications. ETH’s ability to generate native yield and support programmable financial systems positions it as more than a digital asset. Bit Digital sees Ethereum as an integral part of how value will move and settle in modern markets, as a global coordination layer for the emerging onchain economy, and an essential component of future-facing treasury strategy.

Bit Digital operates Ethereum infrastructure as part of its broader strategy to participate directly in the network’s long-term growth. The Company stakes the majority of its ETH holdings and operates validators, earning yield while contributing to the security and performance of the Ethereum network. By combining this operational involvement with the compliance standards and oversight of a public company, Bit Digital offers investors regulated exposure to Ethereum’s underlying economics through a traditional equity vehicle.

About Bit Digital
Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital’s platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact ir@bit-digital.com or follow us on LinkedIn or X.

Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K.  If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See “Safe Harbor Statement” below.

Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Research News and Market Data on BTBT

• July 16, 2025

NEW YORK, July 16, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), today announced that its wholly-owned HPC subsidiary, WhiteFiber Inc. (“WhiteFiber”), has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of WhiteFiber’s ordinary shares.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is subject to market and other conditions and the completion of the SEC’s review process. WhiteFiber intends to list its ordinary shares on The Nasdaq Capital Market under the symbol “WYFI.”

B. Riley Securities and Needham & Company are acting as the joint-bookrunning managers for the proposed offering.

The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed initial public offering may be obtained from: B. Riley Securities, 1300 17^th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com; or from: Needham & Company, LLC, 250 Park Avenue, 10th Floor, New York, NY 10177, Attn: Prospectus Department, prospectus@needhamco.com or by telephone at (800) 903-3268.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended (the “Securities Act”). This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act and other applicable securities laws.

About Bit Digital

Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital’s platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact ir@bit-digital.com or follow us on LinkedIn or X.

Research News and Market Data on BTBT

NEW YORK, June 26, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), today announced the pricing of an underwritten public offering of 75,000,000 ordinary shares at a public offering price of $2.00 per share. The aggregate gross proceeds to the Company from the offering, before deducting the underwriting discount and other offering expenses payable by the Company, will be $150.0 million. The Company intends to use the net proceeds from this offering to purchase Ethereum. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 11,250,000 ordinary shares. The offering is expected to close on or about June 27, 2025, subject to satisfaction of customary closing conditions.

B. Riley Securities is acting as the sole bookrunning manager in the offering and Clear Street, Craig-Hallum and Northland Capital Markets are acting as co-managers for the offering.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3, as amended, including a base prospectus, that was originally filed with the Securities and Exchange Commission (the “SEC”), by the Company on April 30, 2025 and was declared effective on June 20, 2025. A preliminary prospectus supplement relating to the offering has been filed with the SEC, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from: B. Riley Securities, 1300 17^th Street North, Suite 1300, Arlington, VA 22209, Attention: Prospectus Department, by telephone at (703) 312-9580 or by email at prospectuses@brileysecurities.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Bit Digital 

Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. The Company began accumulating and staking ETH in 2022 and now operates one of the largest institutional Ethereum staking infrastructures globally. Bit Digital’s platform includes advanced validator operations, institutional-grade custody, active protocol governance, and yield optimization. Through strategic partnerships across the Ethereum ecosystem, Bit Digital aims to deliver exposure to secure, scalable, and compliant access to onchain yield. For additional information, please contact ir@bit-digital.com.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact, included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “intends,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report) and any subsequently filed quarterly reports on Form 10-Q and any Current Reports on Form 8-K. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Research News and Market Data on BTBT

NEW YORK, June 25, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), today announced that it has initiated a strategic transition to become a pure play Ethereum (“ETH”) staking and treasury company. The Company began accumulating ETH and operating staking infrastructure in 2022 and has steadily increased its holdings since that time.

As of March 31, 2025, the Company held 24,434.2 ETH and 417.6 BTC, valued at approximately $44.6 million and $34.5 million, respectively, as of that date. Bit Digital intends to convert its BTC holdings into ETH over time.

In connection with the transition, the Company has commenced a strategic alternatives process for its bitcoin mining operations that is expected to result in their sale or wind-down, with any net proceeds to be re-deployed into ETH.

About Bit Digital 

Bit Digital is a publicly traded digital asset platform focused on Ethereum-native treasury and staking strategies. For additional information, please contact ir@bit-digital.com or follow us on LinkedIn or X.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Research News and Market Data on BTBT

NEW YORK, June 2, 2025 /PRNewswire/ — WhiteFiber Inc., the wholly-owned HPC subsidiary of Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), announced today that it has completed the acquisition of a 96-acre, ~1 million square foot industrial property in Madison, North Carolina.

The Company will retrofit the facility into a flagship AI data center campus (“Facility”).

The Facility has immediately available power. The Company has entered into a capacity agreement with the utility, Duke Energy, for 99 MW, of which 24 MW are expected to be delivered on or about September 1, 2025. The Company expects to complete this first phase of HPC data center development and be online and operational by 2025 year-end. The utility’s preliminary feasibility study supports capacity up to 200 MW over time, subject to obtaining Electricity Service Agreements from Duke Energy and certain other conditions.

Strategically located in NC’s Piedmont Triad, the Facility sits within a 100-mile radius of Charlotte, Raleigh, Winston-Salem and Greensboro, and approximately 13 miles from the Virginia border. The region is home to numerous existing hyperscalers. The Company is in active negotiations with multiple potential HPC data center tenants and has already signed one non-binding LOI with a client. Moreover, its proximity to multiple metro areas supports AI inference workloads.

Based on initial capital investment projections, the project has been confirmed as a qualifying data center in the State of North Carolina and will therefore be eligible for certain sales and use tax exemptions. The Company has been working closely with local and state officials, economic development agencies, and utility partners whose collaboration has been instrumental in advancing the project.

“North Carolina’s leadership in high performance computing started decades ago with our research universities, the Research Triangle, and our focus on the future,” said North Carolina Governor Josh Stein. “WhiteFiber’s decision to join our state’s IT community will help bring the next generation of computing excellence to North Carolina.”

“Securing this site is a meaningful step in scaling our AI infrastructure platform,” said Sam Tabar, CEO of Bit Digital. “The location, size, and power profile make it a rare asset, which we believe will be foundational to meet accelerating demand from AI customers and pursue long-term value creation for shareholders. We acted decisively to secure what we believe will be a cornerstone asset for our Company.”

“We are thrilled to welcome WhiteFiber to our community,” said Kevin Berger, Chair of the Rockingham County Board of Commissioners. “Their planned investment of over $1 billion¹ and creation of more than 60 jobs is a tremendous boost for our region.”

“The Town of Madison is excited to have WhiteFiber invest in our community,” remarked Madison Mayor William Phillips. “Transforming the former Unifi facility into a state-of-the-art AI data center campus is a remarkable step forward for our local economy.”

The Company is using cash on hand to fund the $45 million purchase. The Company previously utilized its at-the-market equity program to reserve cash on its balance sheet in anticipation of closing. The Company intends to engage in a commercial mortgage financing process for the site.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors. See “Safe Harbor Statement” below.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Research News and Market Data on BTBT

NEW YORK, May 15, 2025 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (the “Company”), a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City, today announced its financial results for the First Quarter of 2025. The Company will host a conference call on May 16, 2025, at 10:00 AM ET to discuss results (click here for registration information).

Financial Highlights for First Quarter of 2025

• Total revenue for the First Quarter of 2025 was $25.1 million, a 17% decrease compared to the prior year’s results. The decrease was driven by a decline in Digital asset mining revenue following the April 2024 halving and partially offset by continued growth in Cloud services revenue and the addition of Colocation services revenue.
• Revenue from bitcoin mining was $7.8 million for the quarter, a 64% decrease compared to the prior year’s quarter. Cloud services revenue was $14.8 million, an 84% increase from the prior year’s quarter. Colocation services revenue was $1.6 million for the quarter as compared to none in the prior year’s quarter. ETH staking revenue was $0.6 million for the quarter, a 72% increase from the prior year’s quarter.
• Revenue from digital asset mining comprised 31% of total revenue for the first quarter of 2025 compared to 72% for the prior year’s quarter.
• The Company had cash, cash equivalents and restricted cash of $61.3 million, and total liquidity (defined as cash, cash equivalents and restricted cash, USDC, and the fair market value of digital assets) of approximately $141.4 million, as of March 31, 2025.
• Total assets were $458.2 million and Shareholders’ Equity amounted to $417.4 million as of March 31, 2025.
• Adjusted EBITDA¹ was $(44.5) million for the First Quarter of 2025 compared to $58.5 million for the first quarter of 2024. Adjusted EBITDA for Q1 2025 includes $49.2 million in mark-to-market losses on digital assets compared to $45.7 million of gains in Q1 2024.
• GAAP loss per share was $(0.32) on a fully diluted basis for the First Quarter of 2025 compared to earnings per share of $0.43 for the first quarter of 2024.

Operational Highlights for First Quarter of 2025

• The Company earned 83.3 bitcoins during the First Quarter of 2025, an 80% decrease from the prior year. The decline was driven by a reduction in block rewards following the halving event in April 2024, an increase in network difficulty, and a decrease in the Company’s average operational hash rate following a fleet deployment in connection with the Company’s exit from Coinmint facilities.
• The Company earned 211.0 ETH in native staking for the three months ended March 31, 2025.
• Treasury holdings of BTC and ETH were 417.6 and 24,434.2, respectively, with a fair market value of approximately $34.5 million and $44.5 million on March 31, 2025, respectively.
• As of March 31, 2025, we had 20,854 miners owned or operating (in Iceland) for bitcoin mining with a total maximum hash rate of 2.4 EH/s. The Company’s active hash rate of its bitcoin mining fleet was approximately 1.5 EH/s as of March 31, 2025.
• The Company had approximately 21,568 ETH actively staked in native staking protocols as of March 31, 2025.
• As of January 1, 2025, Bit Digital officially transitioned to domestic issuer status under U.S. securities law.
• In January 2025, the Company entered into a new agreement to supply its first customer for an additional 464 B200 GPUs for a period of eighteen months. This new agreement replaced the prior agreement whereby the Company was to provide the customer with an incremental 2,048 H100 GPUs. The contract represents approximately $15 million of annualized revenue and features a two-month prepayment from the customer. The customer has elected to defer the commencement date until August 20^th, 2025, which is the latest allowable date under the agreement.
• In addition to the above, the Company signed multiple new cloud services agreements during the first quarter totaling more than 200 NVIDIA H200 GPUs, with contract durations ranging from one to twelve months. These deployments supported training and inference workloads and reflect continued momentum and customer diversification across the Company’s GPU cloud platform.
• In February, the Company officially rebranded its HPC business as WhiteFiber, Inc., encompassing its GPU cloud services and HPC data center platform, Enovum Data Centers.
• In February, the Company, through its high-performance computing platform WhiteFiber, secured a five-year, 5MW colocation agreement with Cerebras Systems (“Cerebras”), a leader in generative AI. In April, Bit Digital announced the selection of a new data center site in Saint-Jérôme, Québec (“MTL-3“) to fulfill the contract. The facility, being developed by Enovum under a lease-to-own structure, is expected to commence operations in July 2025, with total development costs estimated at approximately CAD $55 million (approximately $40 million USD). Cerebras holds a right of first refusal for additional capacity at the site.
• In March, the Company announced a strategic partnership between WhiteFiber and Shadeform, a leading multi-cloud GPU marketplace, to deliver on-demand access to NVIDIA B200 GPUs. Bit Digital received its first shipment of B200s during the quarter, comprising 64 servers (512 GPUs), and began phased deployment in April. Through the Shadeform integration, WhiteFiber’s GPU cloud became globally accessible across more than 100 regions, enabling developers and enterprises to access high-performance AI infrastructure without long-term commitments
• In March 2025, the Company executed two new service orders under its existing agreement with Boosteroid, a global cloud gaming provider. The orders total 701 GPU servers under five-year terms, with deployments scheduled to commence in May and June 2025. These new contracts represent approximately $2.1 million in annualized contract value, bringing total contract value from Boosteroid to approximately $3.6 million annually and over $18 million in total contract value.

Subsequent Events

• In April 2025, the Company entered into a definitive agreement to acquire a data center property in Madison, North Carolina. Closing of the transaction is subject to customary closing conditions, including receipt of an energy study verifying utility capacity. An earnest money deposit of $2.25 million was deposited in escrow pursuant to the terms of the Purchase Agreement, of which $1.25 million is non-refundable to us.
• In April 2025, the Company signed two additional cloud services agreements with DNA Fund. The first agreement, commencing in early May 2025, includes 104 NVIDIA H200 GPUs under a 25-month term. The second, expected to commence in May 2025, includes 512 H200 GPUs under a 23-month term. With these additions, DNA Fund’s total contracted deployment increased to 1,192 GPUs. Combined, the agreements represent approximately $20.9 million of annualized revenue.

Management Commentary

“Our first quarter results were affected by mark-to-market losses on digital assets and lower bitcoin mining revenue, both of which reflect industry-wide headwinds and the strategic rebalancing of our business. We continued to make meaningful progress in scaling our infrastructure platform and diversifying our revenue streams.

Cloud services revenue increased 84% compared to the year-ago period and accounted for the majority of total revenue. Demand was driven by both long-term enterprise contracts and short-term workloads from AI-native developers. Our strategic investments in next-generation hardware and distribution partnerships, including B200 deployments and our integration with Shadeform, helped expand platform reach and customer access.

Colocation services contributed a full quarter of revenue following our acquisition of Enovum in late 2024. We expect this business line to become a major growth engine as we expand our development pipeline to meet growing customer demand.

Bitcoin mining accounted for 31% of total revenue in the quarter, down from 40% in Q4 and 72% a year ago. The decline reflects both the halving event and the ongoing redeployment of miners from Coinmint facilities, which we used as an opportunity to retire less efficient assets and reposition our fleet. While mining remains a component of our platform, we expect its contribution to continue declining over time as our infrastructure businesses grow.

Gross margins improved both sequentially and year-over-year, driven by stronger contribution from Cloud and Colocation segments and ongoing cost discipline. We ended the quarter with approximately $140 million in total liquidity and no debt, giving us the flexibility to invest in high-return initiatives.

We advanced our platform on several fronts, deploying NVIDIA B200 GPUs, expanding key customer relationships, and progressing our datacenter expansion strategy. These milestones support our roadmap and reflect our growing relevance in the AI infrastructure landscape. As we scale our platform, we remain focused on disciplined execution and long-term value creation.”

About Bit Digital

Bit Digital, Inc. is a global platform for high-performance computing (“HPC”) infrastructure and digital asset production headquartered in New York City. The Company’s HPC business operates under the WhiteFiber Inc. (“WhiteFiber”) brand. Our operations are located in the US, Canada, and Iceland. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors”  Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (Annual Report). Notwithstanding the fact that Bit Digital Inc. has not conducted operations in the PRC since September 30, 2021 we have previously disclosed under Risk Factors in our Annual Report: “We may be subject to fines and penalties for any noncompliance with or any liabilities in our former business in China in a certain period from now on.” Although the statute of limitations for non-compliance by our former business in the PRC is generally two years and the Company has been out of the PRC, for more than two years, the Authority may still find its prior bitcoin mining operations involved a threat to financial security. In such event, the two-year period would be extended to five years. The risk factor in the Form 10-K titled “If we are classified as a passive foreign investment company (“PFIC”) U.S. taxpayers who own our ordinary shares may have adverse United States federal income tax consequences” has been modified to the extent that Management has obtained a third party analysis for 2024 and does not believe that Bit Digital should be classified as a PFIC for 2024. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See “Safe Harbor Statement” below.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.