CHANGSHA, China, Dec. 6, 2023
/PRNewswire/ -- Bit Brother Limited (the "Company," "we", or "Bit
Brother") (NASDAQ: BETS) is pleased to announce that
its 2-acre cryptocurrency mining farm site
located in Abilene, Texas received
a Certificate of Occupancy and is scheduled to commence operations
by early 2024.
In the application and preparation process, the Company's
operation team has adjusted a clear distinction between the
industrial operations and the residential area in its mining
farm in Abilene, Texas in
accordance with the Abilene City
code. At present, the Company has met all of the requirements
and has received a Certificate of Occupancy from the city
of Abilene.
The Company has purchased an initial batch of approximately
US$5 million of
cryptocurrency mining servers, and
the entire set of equipment is scheduled to be shipped to
the site before the end of December
2023, while operations are expected to in early 2024,
assuming that the equipment will be fully delivered and passes
inspection benchmarks. The monthly production is estimated
to be 12 BTC, assuming that all the machines are
functioning as expected.
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