<SEC-DOCUMENT>0001213900-22-016319.txt : 20220602
<SEC-HEADER>0001213900-22-016319.hdr.sgml : 20220602
<ACCEPTANCE-DATETIME>20220330204917
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-22-016319
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bit Digital, Inc
		CENTRAL INDEX KEY:			0001710350
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		33 IRVING PLACE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		212-463-5121

	MAIL ADDRESS:	
		STREET 1:		33 IRVING PLACE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Golden Bull Ltd
		DATE OF NAME CHANGE:	20170626
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>BIT DIGITAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">33 Irving Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.75in; text-align: right">March 31, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attention: Tonya K. Aldave</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="width: 85%; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Bit Digital, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><B>Registration Statement on Form F-3/A</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><B>Filed February 28, 2022</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>&nbsp;</B></TD>
    <TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><B><U>File No. 333-257934&#9;</U></B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.75in; text-indent: 0.25in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in"><B><U></U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Dear Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Bit Digital, Inc. (the
&ldquo;Company&rdquo;) is responding to the Staff&rsquo;s Comment Letter dated March 23, 2022. We have submitted an amended Registration
Statement (the &ldquo;Amendment&rdquo;) on this date reflecting the Company&rsquo;s responses to the Comment Letter. Set forth below are
the Company&rsquo;s responses, which appear in the same order of the comments in the Comment Letter and which comments are repeated below
for ease of reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 159.85pt 12pt 0"><U>Amendment No. 2 to Registration Statement on Form F-3</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 159.85pt 12pt 0"><U>General</U></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify; padding-right: 11.2pt">Please provide us with a legal analysis that details why you continue to qualify
as a foreign private issuer after moving your operations to North America. Refer to Rule 405 of Regulation C under the Securities Act
of 1933.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.2pt 12pt 0; text-align: justify; text-indent: 0in"><U>Response No. 1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Rule 405 of Regulation C
under the Securities Act of 1933 (the &ldquo;Act&rdquo;) defines a foreign private issuer (an &ldquo;FPI&rdquo;) as:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in">any foreign issuer other
than a foreign government except an issuer meeting the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;More
than 50% of the outstanding voting securities of such issuer are directly or indirectly owned of record by residents of the United States;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify; text-indent: 0in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
of the following:</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify; padding-right: 0.5in">The majority of the executive officers or directors are United States citizens or
residents;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify; padding-right: 0.5in">More than 50% of the assets of the issuer are located in the United States; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify; padding-right: 0.5in">The business of the issuer is administered principally in the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">March 31, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><BR>
If an issuer&rsquo;s
outstanding voting securities are owned of record by more than 50% by residents of the United States (referred to herein as the &ldquo;50%
test&rdquo;), then the three additional conditions are not addressed. The test is required to be performed as of the last business day
of the registrant&rsquo;s recently completed second quarter. The Company is incorporated in the Cayman Islands, and its voting securities
consist of ordinary shares and preferred shares that are entitled to one and fifty (50) vote(s) per share, respectively. The SEC staff
has confirmed, as set forth in Securities Act Compliance &amp; Disclosure Interpretation Question 203.17, that, in applying the 50% test,
an issuer may look to the absolute number of voting securities held outside and inside the United States, or the voting power of such
securities. As of June 30, 2021, there were 53,906,241 ordinary shares issued and outstanding and 1,000,000 preferred shares issued and
outstanding, which translates to 53,906,241 votes and 50,000,000 votes, respectively, in terms of voting power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Management confirmed,
with data provided by a data service provider, that there were approximately 12,036,112
ordinary shares and 1,000,000 preferred shares owned by non-U.S. residents. Thus, the percentage of voting power of Bit
Digital&rsquo;s voting securities owned by non-U.S. residents on June 30, 2021 was approximately 60%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">As the Company satisfied
the first test by being incorporated in the Cayman Islands and having more than 50% of its voting securities owned by non-U.S. residents,
the Company met the definition of an FPI as of June 30, 2021. The Company will perform the same test again on the last day of the second
fiscal quarter in 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><U>Cover Page</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Please revise your cover page to disclose whether your auditor is subject to the determinations announced
by the PCAOB on December 16, 2021 and whether and how the Holding Foreign Companies Accountable Act and related regulations will affect
your company. In addition, please add a cross-reference to where the determination announced by the PCAOB on December 16, 2021 and the
Holdings Foreign Companies Accountable Act are discussed in greater detail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><U>Response No. 2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">This comment has been complied
with. New disclosure has been added to the cover page of the Amendment with appropriate cross-references to where the PCAOB&rsquo;s determinations
were discussed in greater detail.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">March 31, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><U>Summary of Information, page 4</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify; padding-right: 6.5pt">Please remove the second bullet point on page 6 that states &quot;since the Company
has no PRC subsidiaries in mainland China and has terminated the process to form one in mainland China, the Company is not subject to
liquidity risks in mainland China.&quot; In this regard we note that the Summary of Information section is intended to contain a summary
of material risks.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.5pt 12pt 0; text-indent: 0in"><U>Response No. 3</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.5pt 12pt 0; text-indent: 0in">This comment has been complied with. The
second bullet has been removed in the Amendment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">We note your disclosure on page 5 that &quot;[n]otwithstanding the termination of [y]our bitcoin mining
operations in China, [you] presently intend to continue [y]our limited administrative activities described above in China and Hong Kong
through our Hong Kong subsidiaries, in order to take advantage of [y]our existing bitcoin mining relationships and continue to access
the spot market and Chinese manufacturers of bitcoin mining equipment.&quot; Please disclose whether you may have difficulties in transferring
cash to or from your Hong Kong subsidiaries and whether you could have difficulties transferring the bitcoin mining equipment from your
Hong Kong subsidiaries to your other subsidiaries. In addition, address this risk in your risk factors section.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.2pt 12pt 0; text-align: justify; text-indent: 0in"><U>Response No. 4</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 6.2pt 12pt 0; text-align: justify; text-indent: 0in">This comment has been
complied with under &ldquo;Summary of Information&rdquo; and under &ldquo;Risk Factors&rdquo; in the Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Please do not hesitate to contact our Securities
Counsel, Elliot H. Lutzker, at (646) 428-3210 if you have any questions.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BIT DIGITAL, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Erke Huang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Erke Huang</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 0%">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elliot H. Lutzker, Esq.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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