CHANGSHA, China, Dec. 1, 2023
/PRNewswire/ -- Bit Brother Limited (the "Company," "we", or "Bit
Brother") (NASDAQ: BETS) is pleased to announce it purchased 3300
units of Antminer S19 miners, injecting powerful momentum into its
Bitcoin mining operations.
This substantial investment is expected to propelled Bit
Brother's total hash rate to 400,000 TH/s assuming the 3300 units
are fully functioning, further
solidifying its emerging position in the
cryptocurrency mining arena. The Company's technical
team, through relentless efforts, optimized the performance of the
mining machines, enhancing mining efficiency to generate more
substantial returns for investors.
Mr. Jack Wu, CEO of Bit Brother
stated, "We are incredibly proud of the achievement we have made.
This marks a significant success in our strategic expansion in
the Bitcoin mining sector. The acquisition of
Antminer S19 miners is part of our ongoing efforts to ensure our
mining operations remain highly competitive."
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
View original
content:https://www.prnewswire.com/news-releases/bets-announces-purchase-of-3300-units-of-s19-miners-302003033.html
SOURCE Bit Brother Limited