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Bit Brother Limited (BTB) announced that its Texas mining farm has successfully operated since January 17, 2023, generating over 15 bitcoins, which equates to approximately $370,000 in revenue as of February 23, 2023. The company expects total revenue from the farm to reach around $1.8 million for the fiscal year ending June 30, 2023, with 400 additional mining servers anticipated in April. However, BTB cautions investors that mining results do not reflect overall financial performance and include risks related to regulatory oversight, power costs, operational disruptions, and cryptocurrency price fluctuations.
Bit Brother Limited (NASDAQ: BTB) announced a video conference featuring CEO Ralph Jones and former SEC lawyer Mark Hunter focused on combating naked short selling. Scheduled for February 17, 2023, the discussions will cover the detrimental effects of naked short selling on company shares, potential SEC whistleblower claims, and other legal actions against illegal short selling. The Company is committed to fighting back against these practices through its Special Task Force. Bit Brother's business activities include the distribution of specialty tea and ongoing development in cryptocurrency mining technology, initiated in 2021.