BETS Seeks for New Investment and Expansion Opportunities
CHANGSHA, China, Jan. 2, 2024 /PRNewswire/ -- Bit Brother Limited (the "Company," "we", or "Bit Brother") (NASDAQ: BETS) announced the execution of a consulting agreement with Cruxforce, LLC, aiming to find a mining farm with sufficient power supply for the third site.
In December 2023, Bitcoin once again sparked a remarkable surge, surpassing $45,000 per coin. This news has undoubtedly shocked investors worldwide and triggered a fresh wave of investment enthusiasm. Seizing this chance to actively pursue investment expansion opportunities, Bit Brother has entered into a consulting agreement with Cruxforce, LLC, aiming to find a mining farm with ample power supply for site 3.
The selection of a mining farm plays a crucial role in cryptocurrency mining. A superior mining site should not only offer optimal heat dissipation conditions and comprehensive supporting facilities, the most important is that it also should ensure an adequate and stable power supply to guarantee the smooth operation of mining equipment. Management expect Cruxforce, LLC's expertise in power sourcing will greatly facilitate BETS' investment expansion plans. According to the agreement, Cruxforce will search for mining sites with a maximum power supply capacity of 40MW to meet Bit Brother's growing demands for mining operations.
Through the collaboration with Cruxforce, LLC, Bit Brother is expected to further enhance its performance and expand market share within the cryptocurrency industry. If Bit Brothers is able to find a satisfactory third site and successfully launch it, it will undoubtedly represent a significant strategic move for BETS and is expected to generate more returns for all investors.
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
