On October 13, 2023, the Board of Directors of Bit Digital, Inc. (the ?Company?) elected Jiashu (Bill) Xiong (?Xiong?) to the Board of Directors. He replaced his father, Yan Xiong, who resigned on that day for personal reasons. There were no disagreements with Yan Xiong.

As recommended by the Company?s Nominating and Corporate Governance Committee, the Company entered into a Director Agreement with Xiong, pursuant to which Xiong shall serve as executive director on the Company?s Board of Directors effective October 13, 2023. Xiong has been actively developing open-source projects and startups since 2007. He had previously served as the IT Manager for the Agricultural Bank of China?s Canada from February 2017 to March 2023, he also served as an advisor to numerous software-as-a-service projects and startups.

Xiong received a bachelor?s degree in Computer Science and Software Engineering from the University of Victoria. The Director Agreement provides for Xiong to serve on the Company?s subcommittees, the Board?s Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, as reasonably requested. Xiong is receiving cash compensation for his services on the Board equal to $4,000 a year paid on a quarterly basis.

Xiong is also receiving a salary of $68,000 as IT Director paid on a monthly basis. While Xiong is a member of the Board and for a twelve-month period following termination of the Director Agreement, he cannot have any connection with any business or venture that competes, directly or indirectly, with the Company. For a period of three (3) years from termination of the Director Agreement, Xiong is prohibited from interfering with the Company?s relationship with or seek to have any employee or customer of the Company leave the Company.