CHANGSHA, China, Jan. 25, 2024 /PRNewswire/ — Bit Brother Limited (the “Company,” “we”, or “Bit Brother”) (NASDAQ: BETS) is pleased to announce that all equipment for the operation of our second cryptocurrency mining farm have been delivered. Due to the extremely cold weather in mid-January in Texas some of the equipment delivery which were expected to be delivered before January 10, 2024 were not delivered until January 19, 2024. As of now, the Company has received an initial batch of approximately 1,400 miners, mining containers, transformers, sound barriers and other equipment required for the operation. The 1400 miners have been installed and tested. Majority of the assembly and testing of the other equipment has been completed. We are preparing for the inspection by the Abilene City and issuance of Certificate of Occupancy. Bit Brother expects to receive the Certificate of Occupancy and commencement of Site 2 in early February 2024.
About Bit Brother Limited
Bit Brother Ltd is a multifaceted corporation with operations spanning business management in China and blockchain and cryptocurrency ventures in the United States. Within the U.S. jurisdiction, the company strategically manages and integrates cryptocurrency mining facilities. With a dedicated team of specialists, company is currently operating two mining farms in the U.S. and is committed to further growth of its blockchain and cryptocurrency operations. For more information, please visit: www.bitbrother.com.
This press release contains certain statements that may include “forward-looking statements.” 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. You 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. These risks and uncertainties include, but not are limited to, the risk factors described by BETS in its filings with the Securities and Exchange Commission (“SEC”). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:
- Local government’s policies and regulatory oversight of cryptocurrency mining operations and our other operations;
- BETS’s cryptocurrency mining business is still under development, with many uncertainties in the future direction and integration of BETS’s other business segments;
- Failure to manage the newly launched cryptocurrency mining business effectively;
- Failure to access a large quantity of power at reasonable costs could significantly increase BETS operating expenses and adversely affect demand for BETS’s mining activities;
- Any significant or prolonged failure in the cryptocurrency mining facilities that BETS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
- Security breaches or alleged security breaches of our cryptocurrency mining servers could disrupt BETS operations and have a material adverse effect on its business, financial condition and results of operation; and
- Fluctuation of the crypto price;
- Other risks and uncertainties indicated in BETS’s SEC reports or documents filed or to be filed with the SEC by BETS.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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