[Form 4] Bit Digital, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Filing overview: On 29 Jul 2025 Orin Hirschman and AIGH Capital Management LLC filed Amendment No. 1 to Schedule 13G on Verastem, Inc. (VSTM). The amendment reports aggregate beneficial ownership of 2,003,179 common shares, representing 3.6 % of Verastem’s outstanding stock as of 30 Jun 2025.

Key details

• All shares are held with sole voting and dispositive power; no shared power is reported.
• Item 5 states the group now owns “5 percent or less” of the class, indicating the stake has fallen below the 5 % threshold that triggered the original Schedule 13G.
• The shares are owned by AIGH Investment Partners, L.P. and WVP Emerging Manager Onshore Fund, LLC – AIGH Series, for which AIGH Capital acts as adviser; Hirschman signs as managing member.

Investor take-away: A former 5 %-plus holder has reduced its position to 3.6 %. While the group remains a meaningful shareholder, the trim may signal lower conviction or portfolio rebalancing; the reduced stake also lessens any single-holder influence over corporate decisions.

Positive

• Retention of 2.0 M shares (3.6 %) means the investor group still has a meaningful, though reduced, position in VSTM.

Negative

• Stake fell below the 5 % threshold, implying the group sold shares and reducing perceived commitment and potential support for the stock.

Insights

Portfolio Manager

TL;DR: Large holder cut stake below 5 %; signals diminished commitment and possible selling pressure.

The move from >5 % to 3.6 % removes AIGH/Orin Hirschman from the list of Section 13(d) “active” owners, reducing potential influence over governance and proxy outcomes. Liquidation of roughly 900 k+ shares (exact prior level not disclosed here) may create short-term supply and suggests lowered risk-adjusted return expectations. Nonetheless, retaining 2 M shares shows continued, albeit smaller, alignment. I view the development as modestly negative for sentiment but not thesis-changing.

Corporate Governance Analyst

TL;DR: Compliance-driven amendment; governance impact limited.

This filing mainly updates ownership disclosure and certifies ordinary-course intent under Rule 13d-1. No change in control or activist language appears. Governance risk is therefore minimal, and board dynamics should remain unchanged. Investors should simply note the ownership update for modeling purposes.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Huang Erke

(Last) (First) (Middle)

31 HUDSON YARDS,

FLOOR 11

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bit Digital, Inc [ BTBT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares, $.01 par value	07/25/2025	07/25/2025	M		300,000(1)	A	(2)	2,350,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units(3)	$0.01	07/25/2025	07/25/2025	A		300,000		07/25/2025	03/12/2035	Ordinary Shares	300,000	$0	300,000	D

Explanation of Responses:

1. Represents Ordinary Shares issued upon vesting of restricted stock units ("RSUs") awarded under the Company's 2025 Omnibus Equity Incentive Plan (the "Plan").

2. These shares were valued at $3.15 the closing market price on July 25, 2025.

3. These performance based RSUs were issued under the Plan in an exempt transaction pursuant to Rule 16b-3 under the Securities Exchange Act of 1934

	/s/ Erke Huang	07/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many Verastem (VSTM) shares does Orin Hirschman now hold?

The filing lists 2,003,179 common shares beneficially owned.

What percentage of Verastem's outstanding shares is represented by this stake?

The position equals 3.6 % of the company’s common stock.

Why was an amended Schedule 13G/A filed?

Item 5 shows ownership dropped below 5 %, requiring an update to the original 13G.

Who are the reporting persons in this filing?

AIGH Capital Management LLC, AIGH Investment Partners LLC and Orin Hirschman.

What is the CUSIP number for Verastem common stock?

The CUSIP is 92337C203.

When did the event triggering the filing occur?

The relevant event date is 30 June 2025; the document was signed 29 July 2025.

Do the reporting persons share voting or dispositive power with others?

No. The filing reports sole voting and dispositive power over all disclosed shares.