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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): July 25, 2025
Bit Digital, Inc.
(Exact name of registrant as specified
in its charter)
Cayman Islands |
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001-38421 |
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98-1606989 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
31 Hudson Yards, Floor 11
New York, NY |
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10001 |
(Address of principal executive offices) |
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(Zip Code) |
(212) 463-5121 |
(Registrant’s telephone number, including area code) |
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N/A |
(Former name or former address if changed since last report) |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
Ordinary Shares, $.01 par value |
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BTBT |
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Nasdaq Capital Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 25, 2025, the board
of directors of Bit Digital, Inc. (the “Company”) appointed Justin Zhu, the Company’s current Senior Vice President
of Finance, as the Company’s Chief Accounting Officer (“CAO”) and principal financial officer (“PFO”), effective
that same date. In connection with his continued role as Senior Vice President of Finance and CAO and PFO of the Company, Mr. Zhu will
receive (i) an annual base salary of $300,000 and (ii) restricted share units equal to $150,000, which shall be immediately
vested and issued under the Company’s 2025 Omnibus Equity Incentive Plan.
In connection with the potential
initial public offering of WhiteFiber, Inc. (“WhiteFiber”), a subsidiary of the Company, Erke Huang intends to serve as the
Chief Financial Officer of WhiteFiber. In light of his anticipated new job responsibilities at WhiteFiber, Mr. Huang resigned as the PFO
of the Company and transitioned the role of PFO of the Company to Mr. Zhu. However, Mr. Huang will retain the title of Chief Financial
Officer of the Company but will not serve as the principal financial officer.
Mr. Zhu has served as Senior
Vice President of Finance with the Company since July 2021. Prior to joining the Company, from 2015 until July 2021, Mr. Zhu was a Senior
Manager at Ernst & Young US LLP, where he advised Fortune 500 clients on accounting, reporting, and transaction-related regulatory
requirements. He started his career at PricewaterhouseCoopers, LLP, focusing on public company audits. Mr. Zhu holds a Bachelor of Business
Administration (Honors) in Accounting and a Master of Science in Taxation from Baruch College. He is a Certified Public Accountant (CPA).
There were no arrangements
or understandings between Mr. Zhu and any other persons pursuant to which he was selected as an officer, nor does Mr. Zhu have any family
relationships among any of the Company’s directors or executive officers, and there are no related person transactions within the
meaning of Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission between Mr. Zhu and the Company required
to be disclosed herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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10.1 |
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Offer Letter, dated May 19, 2021, by and between Bit Digital, Inc. and Justin Zhu. |
10.2 |
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Amendment to Offer Letter, dated July 25, 2025, by and between Bit Digital, Inc. and Justin Zhu. |
104 |
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Cover page interactive data file (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BIT DIGITAL, INC. |
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Date: |
July 29, 2025 |
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By: |
/s/ Sam Tabar |
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Name: |
Sam Tabar |
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Title: |
Chief Executive Officer |