Bit Digital, Inc. Announces Strategic Investment in Auros Global Limited

NEW YORK, March 24, 2023 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a digital asset mining company headquartered in New York, is pleased to announce a strategic investment in Auros Global Limited ("Auros"). Auros is a leading crypto-native algorithmic trading and market making firm that delivers best-in-class liquidity for exchanges and token projects. This strategic investment advances Bit Digital's goal to maximize risk-adjusted returns of its digital assets, while protecting its business against operational and treasury risks to ensure healthy and consistent cash flows. Bit Digital intends to utilize Auros' suite of derivatives offerings to provide both hedging and yield opportunities for a portion of its digital asset holdings.

"Digital asset miners and validators play a crucial role in securing blockchains, processing transactions and growing the overall ecosystem. Auros' Derivatives Solutions offering delivers a full-suite of treasury and risk management solutions for miners and validators. These solutions provide large-scale players such as Bit Digital with the necessary tools to guard against market volatility and downside risks, while also maximizing yield opportunities on idle assets and future production output. We are thrilled to partner with Bit Digital on this journey, and we look forward to delivering bespoke solutions that are tailored to their unique needs," says Ben Roth, Co-Founder and Chief Investments Officer of Auros.

"Bit Digital's investment in Auros underscores our confidence in the firm's robust infrastructure and its ability to complement our core business. Through unique yield generation opportunities and bespoke hedging solutions, Auros is able to provide sophisticated support to Bit Digital whilst also working to bring much needed liquidity and market making capabilities to the industry. This is key to fostering a healthy and dynamic digital assets ecosystem. The team's deep derivatives background and expertise across technology and finance also bring the necessary capabilities to cater to our growing business needs. We are excited to have Auros as a strategic, institutional-quality partner and unlock more synergies together," says Samir Tabar, Chief Strategy Officer of Bit Digital Inc. 

About Bit Digital

Bit Digital, Inc. is a sustainability focused generator of digital assets headquartered in New York City. Our mining operations are located in North America. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

About Auros

Auros is a leading crypto-native algorithmic trading and market-making firm with operations worldwide and offices in Hong Kong and New York. As one of the market's largest participants, Auros combines sophisticated pricing models and state-of-the-art execution capabilities to generate billions of dollars in daily notional turnover across dozens of centralized and decentralized trading venues. Its unique partnership-based approach to external liquidity provision has rapidly established the firm as a go-to market maker for token projects and exchanges, delivering unmatched services while fostering sustainable growth in the digital assets industry. The team brings a breadth of experience across digital assets, derivatives trading, and structuring, allowing them to develop creative solutions for partners through their Derivatives Solutions offering.

To explore our Strategic Market Making service, please visit auros.global/strategic-market-making 

For more information about the company, please visit auros.global

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, 2021. 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 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.