CHANGSHA, China, Nov. 29,
2023 /PRNewswire/ -- Bit Brother Limited (the
"Company," "we", or "Bit Brother") (NASDAQ: BETS) is pleased to
announce significant achievements regarding its 6MW mining farm at
1968 N Access Rd, Clyde, TX 79510.
Over the past 11 months, the facility has generated a total value
exceeding 120 BTC. Starting operations on January 17, 2023, the mining farm reached full
6MW capacity after installing 1.5 MW miner servers in May. Despite
challenges from the Texas summer
heat, outcomes met expectations, thanks to the mining operation
team's professionalism in addressing issues, managing server
operations, handling power curtailments, and overseeing overall
operations.
The Company's second 2-acre mining farm at 5418 Lockheed Way,
Abilene, TX 79603, is in the final
stages of infrastructure development. This includes completing
construction and setting up of the warehouse, mining containers and
associated infrastructure. Anticipated in December, customized
power transformers and sound insulation walls are expected to be
delivered and installed in December. Operations are expected to
start in January, assuming the equipment are inspected and
accepted, and preparatory tasks are completed by then. The initial
batch involved purchasing about 1500 mining servers, with an
estimated daily production of 0.4 BTC, assuming optimal
functionality of all machines.
The Company seeks to provide as much transparency about
its bitcoin mining operation as
possible. The link below reflects Bitcoins we have mined in
real-time:
https://www.blockchain.com/explorer/addresses/btc/37frzvqQeAzf6hWj4J9zrEzZf4WJoo3sRR
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 has successfully expanded two mining
ventures and is committed to further growth. For more information,
please visit: www.bitbrother.com.
Forward-Looking Statements
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.
Contact: contactus@bitbrother.com, +86-0731-82290658
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SOURCE Bit Brother Limited