Bit Brother Ltd (BETSF)

[Skiluc]

BETS Abilene TX Mining Farm Received a Certificate of Occupancy and is Scheduled to Commence Operations in Early 2024

CHANGSHA, China, Dec. 6, 2023 /PRNewswire/ -- Bit Brother Limited (the "Company," "we", or "Bit Brother") (NASDAQ: BETS) is pleased to announce that its 2-acre cryptocurrency mining farm site located in Abilene, Texas received a Certificate of Occupancy and is scheduled to commence operations by early 2024.

In the application and preparation process, the Company's operation team has adjusted a clear distinction between the industrial operations and the residential area in its mining farm in Abilene, Texas in accordance with the Abilene City code. At present, the Company has met all of the requirements and has received a Certificate of Occupancy from the city of Abilene.

The Company has purchased an initial batch of approximately US$5 million of cryptocurrency mining servers, and the entire set of equipment is scheduled to be shipped to the site before the end of December 2023, while operations are expected to in early 2024, assuming that the equipment will be fully delivered and passes inspection benchmarks. The monthly production is estimated to be 12 BTC, assuming that all the machines are functioning as expected.

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