CHANGSHA, China, Jan. 23, 2023 /PRNewswire/ — Bit Brother Restricted (the “Firm,” “we”, “BTB” or “Bit Brother”) (NASDAQ: BTB) is happy to announce until the time this Press Launch is printed, all 1,400 S19J Professional cryptocurrency mining servers have been working with the full hash charge of 140,000 TH/S in Texas mining farm, which is owned by BTB’s subsidiary Bit Brother New York Inc (“BTB NY”). And a couple of.39 Bitcoin has been mined.
The Firm seeks to supply as a lot transparency about its bitcoin mining operation as doable. The hyperlink beneath displays the BTC we’ve mined in real-time:
Ralph Jones, CEO of BTB New York, commented gladly, “The working of the 1,400 mining servers is a vital step which displays the substantial achievement of BTB’s North American blockchain enterprise, and represents that BTB’s transformation into the block business was profitable. Administration group of BTB will proceed to discover extra inexperienced energy to increase the mining farms, buy extra mining servers, and dedicate extra computing energy. The Firm is dedicated to develop its cryptocurrency and blockchain companies to learn the Firm, in addition to its shareholders.”
These mining outcomes don’t embody any monetary outcomes for the Firm and don’t deal with the Firm’s different, non-mining operations. United States typically accepted accounting rules for cryptocurrency mining are complicated, rising, and unsure. Cryptocurrencies is probably not acknowledged as money or money equivalents, and mining actions might not qualify for income recognition. Cryptocurrencies haven’t any inherent worth, should not authorized tender acknowledged by any governmental entity, and won’t be capable of be transformed into fiat currencies. Buyers are suggested to not place undue reliance on mining outcomes alone, with out contemplating different monetary and non-financial metrics.
About Bit Brother Restricted
Bit Brother Restricted (previously referred to as City Tea, Inc.) was integrated within the British Virgin Islands as an organization with restricted legal responsibility on November 28, 2011. Our enterprise at the moment consists of cryptocurrency mining in North America, and the distribution and retail of specialty tea merchandise. For extra info, please go to: www.bitbrother.com
This press launch accommodates sure statements which will embody “forward-looking statements.” All statements aside from statements of historic reality included herein are “forward-looking statements.” These forward-looking statements are sometimes recognized by way of forward-looking terminology corresponding to “believes,” “expects” or related expressions, involving identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are cheap, they do contain assumptions, dangers and uncertainties, and these expectations might show to be incorrect. You shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. The Firm’s precise outcomes might differ materially from these anticipated in these forward-looking statements on account of quite a lot of components. These dangers and uncertainties embody, however not are restricted to, the chance components described by BTB in its filings with the Securities and Trade Fee (“SEC”). These threat components and people recognized elsewhere on this press launch, amongst others, might trigger precise outcomes to vary materially from historic efficiency and embody, however should not restricted to:
- Native authorities’s insurance policies and regulatory oversight of cryptocurrency mining operations and our different operations;
- BTB’s cryptocurrency mining enterprise continues to be beneath improvement, with many uncertainties sooner or later path and integration of BTB’s different enterprise segments;
- Failure to handle the newly launched cryptocurrency mining enterprise successfully;
- Failure to entry a big amount of energy at cheap prices might considerably enhance BTB working bills and adversely have an effect on demand for BTB’s mining actions;
- Any important or extended failure within the cryptocurrency mining amenities that BTB operates or providers it gives, together with occasions past its management, would result in important prices and disruptions and would cut back the attractiveness of its amenities, hurt its enterprise status and have a fabric adversarial impact on its outcomes of operation;
- Safety breaches or alleged safety breaches of our cryptocurrency mining servers might disrupt BTB operations and have a fabric adversarial impact on its enterprise, monetary situation and outcomes of operation; and
- Fluctuation of the crypto value;
- Different dangers and uncertainties indicated in BTB’s SEC experiences or paperwork filed or to be filed with the SEC by BTB.
Accordingly, forward-looking statements shouldn’t be relied upon as representing our views as of any subsequent date, and you shouldn’t place undue reliance on these forward-looking statements in deciding whether or not to put money into our securities. We don’t undertake any obligation to replace forward-looking statements to mirror occasions or circumstances after the date they have been made, whether or not on account of new info, future occasions or in any other case, besides as could also be required beneath relevant securities legal guidelines.
SOURCE Bit Brother Restricted