Bit Origin Ltd announces regaining Nasdaq compliance after filing its annual report, following a previous notice of non-compliance.
Quiver AI Summary
Bit Origin Ltd announced that it has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company had previously received a notice of non-compliance on November 20, 2024, due to this delay. On December 27, 2024, Nasdaq confirmed the company's compliance, which requires timely submission of financial reports to the Securities and Exchange Commission. Bit Origin, engaged in cryptocurrency mining and blockchain technology deployment, operates in the U.S. and was formerly known as China Xiangtai Food Co., Ltd.
Potential Positives
- The company has regained compliance with Nasdaq Listing Rule 5250(c)(1), which positively affects its status as a publicly traded company.
- Regaining compliance follows a previous notice of non-compliance, indicating effective management and resolution of regulatory issues.
- The timely filing of its annual report enhances investor confidence and transparency regarding the company's financial health.
Potential Negatives
- Regained compliance with Nasdaq due to a previous notice of non-compliance, indicating potential issues with financial reporting and governance.
- The delay in filing the annual report may raise concerns among investors regarding the company's transparency and operational management.
- The press release highlights the company's need to reassure investors after previous compliance issues, which could undermine confidence in its financial stability.
FAQ
What does Bit Origin Ltd do?
Bit Origin Ltd is engaged in the cryptocurrency mining business and actively deploying blockchain technologies.
What was the reason for Bit Origin's non-compliance with Nasdaq?
The non-compliance was due to the delayed filing of its annual report on Form 20-F.
When did Bit Origin regain compliance with Nasdaq rules?
Bit Origin regained compliance on December 27, 2024.
What is the significance of the Nasdaq Listing Rule 5250(c)(1)?
This rule requires companies to timely file all required periodic financial reports with the SEC.
Where can I find more information about Bit Origin Ltd?
More information can be found on their official website at https://bitorigin.io.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BTOG Hedge Fund Activity
We have seen 1 institutional investors add shares of $BTOG stock to their portfolio, and 3 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CITADEL ADVISORS LLC removed 34,170 shares (-100.0%) from their portfolio in Q3 2024
- UBS GROUP AG removed 25,424 shares (-74.4%) from their portfolio in Q3 2024
- VIRTU FINANCIAL LLC removed 16,006 shares (-100.0%) from their portfolio in Q3 2024
- XTX TOPCO LTD added 12,749 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) ("Bit Origin" or the "Company"), an emerging growth company engaged in the crypto mining business with diversified expansion strategies, announced today that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) in connection with the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024.
On November 20, 2024, the Company received a notice of non-compliance from The Nasdaq Stock Market LLC (the “Nasdaq”) due to the delayed filing of its annual report.
On December 27, 2024, the Company received a notice from Nasdaq that it has regained compliance with the Listing Rule, which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission.
About Bit Origin Ltd
Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., is an emerging growth company operating in the United States and engaged in the cryptocurrency mining business. The Company is also actively deploying blockchain technologies alongside diversified expansion strategies. For more information, please visit https://bitorigin.io .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
Company Contact
Bit Origin Ltd
Mr. Jiang Jinghai, Chairman of the Board, CEO and COO
Email:
[email protected]
To keep updated on Bit Origin’s news releases and SEC filings, please subscribe to email alerts at https://bitorigin.io/contact
