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1 ETH Powered.Publicly Traded. The foreseeable future belongs to ETH + AI www.bit-digital.com Investor Presentation @BitDigital_BTBT September 2025
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2 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 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequently filed Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K. 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. See "Safe Harbor Statement" below. About this Presentation: This presentation has been prepared by Bit Digital, Inc. (“Bit Digital” or the “Company”) solely for information purposes. This presentation and its contents are confidential and may be deemed to contain material non-public information about the Company and its affiliates. This presentation may not, in whole or in part, be disclosed, reproduced, disseminated or quoted at any time or in any manner without the Company’s prior written consent (whether or not attributed directly to the Company as a source). The information contained herein also includes information provided by third parties, such as market data and industry forecasts that were obtained from industry publications. Neither Bit Digital, its affiliates or any third parties that provide information to Bit Digital guarantee the accuracy, completeness, timeliness or availability of any such information. Neither Bit Digital, its affiliates or any third parties that provide information to Bit Digital are responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or the results obtained from the use of such content. Neither Bit Digital nor any of its affiliates give any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use, and they expressly disclaim any responsibility or liability for direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs expenses, legal fees or losses (including lost income or profits and opportunity costs) in connection with the use of the information herein. Information contained herein may include information respecting prior performance of Bit Digital. Information respecting prior performance, while a useful tool, is not necessarily indicative of actual results to be achieved in the future, which is dependent upon many factors, many of which are beyond the control of Bit Digital. Certain financial information is based on estimates of management of Bit Digital. These estimates, which are based on the reasonable expectations of management, are subject to change and there can be no assurance that they will prove to be correct. The information contained herein does not purport to be all-inclusive or contain all information that an investor may require in order to properly evaluate the business, prospects or value of Bit Digital. Neither Bit Digital nor any of its affiliates has any obligation to update this presentation and the information may change at any time without notice. Neither Bit Digital nor any of its affiliates makes any representation or warranty, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness, or completeness of any of the information contained herein (including but not limited to information obtained from third parties related or unrelated to Bit Digital), Bit Digital and its affiliates expressly disclaim any responsibility or liability arising therefrom. Unless otherwise indicated, financial information in this presentation is as of the dates shown herein and other statements in this presentation are made as of the date hereof, and no implication should be made that the information contained herein is correct as of any other time subsequent to such date. 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 investor presentation. 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 reports that are filed with the Securities and Exchange Commission and available on its website at http://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. Investor Notice bit-digital.com
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3 Pioneering two of the greatest story arcs of our time: ETH + AI bit-digital.com Bit Digital’s Mission To lead as the preeminent Ethereum treasury platform, transforming the future of finance with one of the world’s largest ETH holdings and delivering value through innovation and strategic growth. By pairing an Ethereum-native treasury strategy with institutional staking and high-performance AI infrastructure, we are building the financial and compute fabric for the future. Anchored in ETH, we aim to capture the two defining arcs of our time, Ethereum and Artificial Intelligence, to maximize long-term shareholder value.
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4 bit-digital.com ● Programmable Powerhouse: Ethereum’s smart contracts and DeFi ecosystem are redefining global finance as the foundation of digital capital–while cutting out the traditional middleman. ● Staking Yield Advantage: ETH staking delivers sustainable returns, fueling Bit Digital’s flywheel of growth. ● Powering Intelligence: Our ownership in AI and high-performance computing through our majority holdings of WYFI, a differentiated AI infrastructure company, provides exposure to the significant growth of data-hungry artificial intelligence opportunities. TOGETHER, THEY FORM THE BACKBONE OF THE DIGITAL ECONOMY bit-digital.com Why Ethereum + Artificial Intelligence?
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5 bit-digital.com Uniquely Positioning Shareholders at the Intersection of Digital Capital [ETH staking/yields] and Artificial Intelligence [AI infrastructure]. Unique Technical Value Smart contracts enable programmable money, surpassing traditional finance by cutting out the middleman. Growing Adoption Developers, institutions, and businesses increasingly embrace ETH as digital capital’s foundation. Yield Generation Paired with institutional grade staking, Ethereum delivers sustainable returns that fuel a compounding flywheel. Scalable Intelligence GPUs power data-hungry AI models, enabling breakthroughs in machine learning and automation. Market Demand Explosive growth in AI compute needs are met with Bit Digital’s majority holdings of WhiteFiber AI infrastructure company. Synergistic Positioning AI continuously demands more data and information. ETH powers AI’s expansion via smart-contracts and true verification.
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6 Opportunistic ETH acquisitions powering mNAV growth: Strategically building a leading ETH treasury bit-digital.com Opportunistic Buying Capitalizing on market dips to acquire ETH at prices we believe are attractive, with the goal of enhancing mNAV(1) per share. Capital Deployment Proceeds from equity raises, Bitcoin sales and mining operations fully deployed into ETH treasury to scale holdings. mNAV Focus Each acquisition is intended to enhance mNAV by aligning with ETH’s compounding yields and AI’s high-margin compute demand. Why It Works Ethereum’s staking yield and DeFi opportunities create a compounding effect, unlike static assets. Bit Digital’s institutional-grade staking, custody, and governance ensure secure, scalable growth. Our Commitment Strategically expanding ETH holdings to build what we believe can be the leading public-market Ethereum treasury platform with exposure to AI infrastructure.. 1. Market Net Asset Value (mNAV) represents the market value of our digital asset holdings and other assets, less liabilities, as of the date indicated.
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7 bit-digital.comExperienced Team Select Experience Sam Tabar Chief Executive Officer ▪ Founded in 2017; acquired by Consensys 2020 ▪ Sam Tabar was Co-Founder and Chief Strategy Officer ▪ Provided tokenized real estate using blockchain technology ▪ Developed AirSwap, a DeFi trading platform for global exchange of Ethereum Erke Huang Chief Financial Officer & Director Brock Pierce Board Member Charles d’Haussy Advisor, Crypto Select Experience Select Experience Select Experience Long Soar Technology Limited
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8 Bit Digital Highlights ❑ 121,252 ETH Held(1) ❑ Material Stake in WhiteFiber (Nasdaq: WYFI) ~71.5%(2) ownership in a valuable public AI infrastructure company. ❑ Proven Public Company Leadership Experienced team with a track record of disciplined execution. ❑ ETH Staking Since 2022 Established validator operations with consistent yield generation. ❑ Institutional-Grade Treasury Infrastructure Secure custody, accumulation experience, and operational controls. ❑ Simple, Scalable Capital Structure Nasdaq-listed vehicle with no debt and flexibility to grow. bit-digital.com 1. Total Ethereum held as of 8/31/25 2. As of 9/4/25, Bit Digital held 27,043,749 shares of WhiteFiber, representing approximately 71.5% of the company. 0 25,000 50,000 75,000 100,000 125,000 ETH Holdings 27,623 121,252 As of 12/31/24 As of 8/31/25 ~71.5% WYFI Ownership
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9 Former Bit Digital bit-digital.com Cloud Services Data Centers Ethereum Staking Bitcoin Mining
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10 Bit Digital Transition Milestones bit-digital.com Step 1 Step 2 Convert BTC into ETH to fully align treasury for ETH Simplify corporate structure by spinning off HPC subsidiary Step 3 Exit Bitcoin Mining Operations Step 4 100% ETH Accumulation Strategy Bit Digital’s focus going forward is simple. We want to build one of the largest institutional ETH balance sheets in the public markets by generating scalable staking yield for our shareholders. The Company intends to allocate the majority of its capital to ETH accumulation and staking yield generation, positioning itself as a leading public ETH vehicle while also holding a majority ownership of an AI infrastructure business. IN PROGRESS
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11 Bit Digital Reimagined bit-digital.com 121,252 ETH held ~$532.5MM value As of 8/31/25 Ethereum Holdings 100% ETH Accumulation Strategy ~74.3% of WYFI 27,043,749 shares ~$441.9MM value Bit Digital owns As of 8/31/25
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12 bit-digital.com Bit Digital’s in-place infrastructure and expertise Existing Native Staking Relationships ✓ Institutional-grade validator infrastructure already operational ✓ Exclusively stake Bit Digital owned ETH Custodial Partnerships ✓ Enterprise custody integrations with tier-1 providers ✓ Multiple layers of security with validated protocols Institutional Scale Deployment ✓ One of the largest public ETH treasuries today Early Mover Experience ✓ Multi-year operational track record ✓ Public-company transparency and governance standards ✓ Battle-tested infrastructure through market cycles
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13 The Ethereum Playbook bit-digital.com Strategic Capital Raising ETH Accumulation & Staking Public Ethereum Advocacy Actively promoting the adoption, and responsible use of ETH through education, thought leadership, and ecosystem engagement, highlighting ETH’s role in powering DeFi, programmable assets, and the future of digital infrastructure. Acquire and hold ETH while actively participating in the network by staking it, earning native yield, supporting network security, and benefit from Ethereum’s long-term value appreciation and utility as a programmable, yield-generating asset. Deliberate and structured process for securing funding to support the company's growth, operations, and strategic initiatives. Transparent Reporting Sharing accurate, timely, and comprehensive information about the company’s operations, financials, and strategic activities.
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14 mNAV vs BTBT Share Price Illustrative as of 8/31/2025 bit-digital.com Asset Holdings Market Price Value ($MM) Ethereum 121,252 $4,327.82 $524.8 WhiteFiber (WYFI) Stake 27,043,749 $16.34 $441.9 Combined Asset Value $966.7 ~16.6% Discount Note: BTBT shares outstanding as of August 31, 2025. Illustrative mNAV calculated using ETH price of $4,327.82 and WYFI price of $16.34 as of 9/5/25. Closing prices sourced from Bloomberg. WYFI stake shown at prevailing market value; no control premium or discount applied. Market values change continuously. mNAV is a non-GAAP metric and may differ from other companies’ calculations. BTBT Shares Outstanding 321.4MM mNAV per Share $3.01 BTBT Share Price $2.51 As of 9/5/25
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15 bit-digital.com Total ETH Held Total ETH Value ETH Staked Staking Rewards 249 ETH Staking Yield WYFI Shares Owned As of 8/31/25 As of 8/31/25 As of 8/31/25 For August 2025 For August 2025 As of 8/31/25 2.94% 27.0MM 121,252 ~$532.5MM 105,031 ETH Treasury Snapshot
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16 31 Hudson Yards, Floor 11 New York, NY 10001 United States +1 212 463 5121 IR@bit-digital.com www.bit-digital.com Investor Presentation @BitDigital_BTBT September 2025