On December 30, 2023, Mr. Jishuang Zhao, the chairman of the board of directors of BTC Digital Ltd., a company formed in the Cayman Islands (the ?Company?), and a member and the chairman of the compensation committee and the nominating and corporate governance committee of the Company?s board of directors, notified the Company of his resignation from the board of directors of the Company and from the compensation committee and the nominating and corporate governance committee of the Company?s board of directors, effective December 10, 2023. Mr. Jishuang Zhao?s resignation from the Company?s board of directors was due to personal reasons and not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. On December 1, 2023, the Company?s board of directors appointed Mr. Xu Peng as a director of the Company, the chairman of the Company?s board of directors, and a member and chairman of the compensation committee and the nominating and corporate governance committee of the board of directors, effective December 11, 2023.

The appointment intends to fill the vacancy created by Mr. Jishuang Zhao?s departure. Mr. Xu Peng, age 43, has served as the chairman of the Company?s board of directors since December 2023. Mr. Xu Peng served as the president of Hailuoda International Consulting Services Co.

Ltd. in People?s Republic of China (the ?PRC?), a company engaged in overseas trade and investment promotion in Hainan, the PRC, from July 2019 to November 2023, where he was overseeing and managing the overall operations of the company. From August 2012 to June 2019, Mr. Peng served as the president at Ziyou Emotional Intelligence Education Consulting Co. Ltd., an education services provider targeted at children and youth, where he was overseeing and managing the overall operations of the company.

Mr. Peng obtained a bachelor?s degree in computer science from College of Applied Arts and Science of Beijing Union University in the PRC in 2003.