BIT DIGITAL APPOINTS CAMERON SCHNIER AS HEAD OF INVESTOR RELATIONS

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- Bit Digital (NASDAQ: BTBT), a leading digital mining company headquartered in New York City with facilities across North America, today announced that the Company has appointed Cameron Schnier as Head of Investor Relations. He will report to Chief Strategy Officer Sam Tabar while overseeing investor relations activities, corporate marketing events, and liaising with equity research coverage.

Cameron Schnier joined Bit Digital in February 2022 with over a decade of experience in the financial sector. Prior to joining Bit Digital, Mr. Schnier was a Vice President at Wolfe Research covering both the Industrial Technology and Oilfield Services sectors from 2018 to 2021. He previously worked as an equity research associate at Evercore ISI from 2014 to 2018. He began his career at the Bank of Tokyo-Mitsubishi where he served in various market risk and credit strategy positions. Mr. Schnier graduated from Washington & Lee University with a BS in Business Administration. He is a CFA Charterholder and holds Series 7, Series 63, Series 86, and Series 87 securities licenses.

"Given the pace at which our operations are expanding and our objective of establishing Bit Digital as one of the leading Bitcoin miners in the United States, we believe it is the right moment to add a full-time, in-house Head of Investor Relations to help elevate our organization," said Sam Tabar, Bit Digital's CSO, "On behalf of the entire team, I'd like to welcome Cam aboard."

About Bit Digital

Bit Digital, Inc. is a bitcoin mining company headquartered in New York City. Our mining operations are located across North America. For additional information, please visit 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" in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2020. 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. Additionally, all discussions of financial metrics assume mining difficulty rates as of September 2021. 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 https://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.

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SOURCE Bit Digital, Inc.