Form 4: Bit Digital Director Brock Pierce to Acquire 500,000 Shares in Public Offering

Bit Digital, Inc. Director and 10% owner Brock Jeffrey Pierce is set to acquire 500,000 ordinary shares at $2.00 per share through an underwritten public offering expected to close on June 27, 2025.

Summary

• Brock Jeffrey Pierce, a Director and 10% owner of Bit Digital, Inc. (BTBT), is acquiring 500,000 ordinary shares.
• The acquisition is part of an underwritten public offering.
• The purchase price for these shares is $2.00 per share.
• The transaction date for the acquisition is June 25, 2025.
• The underwritten public offering is expected to close on June 27, 2025.
• Following this transaction, Mr. Pierce will directly own 500,000 ordinary shares.
• Additionally, 80,000 ordinary shares are indirectly beneficially owned by Mr. Pierce through Percival Services, LLC, where he serves as Managing Director and acts as its representative under a Director Agreement with Bit Digital Inc.

Sentiment

Score: 8

Explanation: The acquisition of a significant number of shares by a director and 10% owner, Brock Jeffrey Pierce, indicates strong insider confidence in the company's future, which is generally a very positive signal for investors.

Positives

• A Director and 10% owner, Brock Jeffrey Pierce, is increasing his direct beneficial ownership in Bit Digital, Inc. by 500,000 shares, signaling strong confidence in the company's future.
• The acquisition is part of an underwritten public offering, which can provide capital to the company.

Future Outlook

The filing indicates an upcoming underwritten public offering for Bit Digital, Inc. is expected to close on June 27, 2025, which will result in a significant increase in direct beneficial ownership by Director Brock Jeffrey Pierce.

Management Comments

• Brock Jeffrey Pierce, as a Director and 10% owner, is demonstrating confidence in Bit Digital's prospects through a substantial personal investment in the company's public offering.

Industry Context

This insider acquisition by a director of Bit Digital, a company involved in cryptocurrency mining, reflects a potential positive sentiment within the digital asset industry, particularly concerning the company's valuation and future prospects. Such transactions can be viewed by the market as a vote of confidence, especially in a volatile sector like blockchain and crypto.

Related Party Transactions

• Brock Jeffrey Pierce indirectly beneficially owns 80,000 ordinary shares held in the name of Percival Services, LLC, a limited liability company where Mr. Pierce is the Managing Director. Percival Services has a Director Agreement with Bit Digital Inc. for Mr. Pierce to act as its representative.

Stakeholder Impact

• Shareholders may view the significant insider purchase as a strong vote of confidence from a key director and 10% owner, potentially leading to increased investor interest and positive sentiment.
• The underwritten public offering itself, through which the shares are being acquired, implies a capital infusion for the company, which could strengthen its financial position.

Next Steps

• The underwritten public offering is expected to close on June 27, 2025.

Key Dates

Keywords

Bit Digital, BTBT, SEC Form 4, Insider Trading, Share Acquisition, Director, Public Offering, Beneficial Ownership, Blockchain, Cryptocurrency Mining