CHANGSHA, China, March 11, 2024 /CNW/ -- Bit Brother Limited ("Bit Brother, " "We" or the "Company") (OTC:BETSF), today announced its intention to appeal the recent delisting decision issued by the Hearing Panel of Nasdaq Stock Market ("Nasdaq").

We have recently received correspondence from shareholders across the globe who indicted that that they believe BETSF's recent financing activities have not harmed their interests. And it is with their support that we will be submitting our appeal.

As the cryptocurrency market experiences a bullish trend, BETSF remains focused on our digital currency operations, and shareholders are eagerly anticipating the company's growth in this thriving market. It is precisely during this opportune moment in the cryptocurrency market that Nasdaq's decision to delist BETSF should be considered as detrimental to shareholder interests. The timing of this Panel's decision is particularly unfortunate as shareholders expect significant returns from the company's operations in the cryptocurrency sector.

We were told on the social media platform that since the trading of our Class A ordinary shares was suspended on Nasdaq since March 7 many of our shareholders were unable to trade on OTC. They told us they could only sell shares and suffered a huge loss when the stock price fell sharply.

We intend to submit our appeal to Nasdaq no later than March 20, 2024. During this process, we sincerely invite all shareholders who share our concerns to stand with us，shareholders please email us with your valuable opinion at IR@bitbrother.com.

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 Disclaimer

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, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

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SOURCE Bit Brother Limited

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Bit Brother Limited Plans to Appeal Delisting Determination by Nasdaq Hearing Panel