Bit Origin Ltd Regains Compliance with Nasdaq Listing Rule 5250(c)(1)
Bit Origin (NASDAQ: BTOG), a crypto mining company, has successfully regained compliance with Nasdaq Listing Rule 5250(c)(1) following the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company had previously received a non-compliance notice from Nasdaq on November 20, 2024, due to delayed filing. On December 27, 2024, Nasdaq confirmed that Bit Origin has met the listing requirement for timely submission of periodic financial reports to the SEC.
Bit Origin (NASDAQ: BTOG), una azienda di estrazione di criptovalute, ha riacquistato con successo la conformit脿 alla Regola di Quotazione 5250(c)(1) di Nasdaq dopo aver presentato il suo rapporto annuale sul Modulo 20-F per l'anno fiscale conclusosi il 30 giugno 2024. La societ脿 aveva precedentemente ricevuto un avviso di non conformit脿 da Nasdaq il 20 novembre 2024, a causa di un ritardo nella presentazione. Il 27 dicembre 2024, Nasdaq ha confermato che Bit Origin ha soddisfatto il requisito di quotazione per la tempestiva presentazione dei rapporti finanziari periodici alla SEC.
Bit Origin (NASDAQ: BTOG), una empresa de miner铆a de criptomonedas, ha vuelto a cumplir con 茅xito la Regla de Cotizaci贸n 5250(c)(1) de Nasdaq tras la presentaci贸n de su informe anual en el Formulario 20-F para el a帽o fiscal que termin贸 el 30 de junio de 2024. La compa帽铆a hab铆a recibido anteriormente un aviso de no conformidad de Nasdaq el 20 de noviembre de 2024, debido a un retraso en la presentaci贸n. El 27 de diciembre de 2024, Nasdaq confirm贸 que Bit Origin ha cumplido con el requisito de cotizaci贸n para la presentaci贸n oportuna de informes financieros peri贸dicos a la SEC.
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Bit Origin (NASDAQ: BTOG), une entreprise de minage de crypto-monnaies, a r茅ussi 脿 retrouver sa conformit茅 avec la r猫gle de cotation 5250(c)(1) de Nasdaq suite au d茅p么t de son rapport annuel sur le formulaire 20-F pour l'exercice clos le 30 juin 2024. L'entreprise avait pr茅c茅demment re莽u un avis de non-conformit茅 de Nasdaq le 20 novembre 2024 en raison d'un retard dans le d茅p么t. Le 27 d茅cembre 2024, Nasdaq a confirm茅 que Bit Origin pouvait respecter les exigences de cotation pour le d茅p么t en temps voulu des rapports financiers p茅riodiques 脿 la SEC.
Bit Origin (NASDAQ: BTOG), ein Unternehmen f眉r Krypto-Mining, hat erfolgreich die Einhaltung der Nasdaq-Listing-Regel 5250(c)(1) wiederhergestellt, nachdem es seinen Jahresbericht auf Formular 20-F f眉r das am 30. Juni 2024 endende Gesch盲ftsjahr eingereicht hat. Das Unternehmen erhielt zuvor am 20. November 2024 eine Mitteilung 眉ber die Nichteinhaltung von Nasdaq aufgrund einer versp盲teten Einreichung. Am 27. Dezember 2024 best盲tigte Nasdaq, dass Bit Origin die Zulassungsanforderung f眉r die fristgerechte Einreichung von viertelj盲hrlichen Finanzberichten bei der SEC erf眉llt hat.
- Regained Nasdaq listing compliance, removing the risk of potential delisting
- Successfully filed required annual report Form 20-F
- Previously failed to meet filing deadlines, indicating potential internal control issues
Insights
The regaining of Nasdaq compliance represents a critical regulatory milestone for Bit Origin. Filing timely financial reports is a fundamental requirement for maintaining listing status and this development removes a significant regulatory overhang. The swift resolution within approximately one month demonstrates effective management of regulatory obligations. However, for a micro-cap company with a market capitalization under
The successful resolution suggests improved internal controls and reporting capabilities, though investors should note that meeting basic listing requirements is a minimum standard rather than a signal of operational strength. The company's ability to file its Form 20-F also provides needed transparency into its financial position and operations in the volatile crypto mining sector.
While regaining compliance is positive from a technical standpoint, this development should be viewed in the broader context of Bit Origin's market position. As a micro-cap crypto mining company, the temporary non-compliance and subsequent resolution reflects the operational challenges faced in maintaining basic listing requirements. The company's small market capitalization of
Think of this like a student making up missed homework - it's necessary to stay in school but doesn't necessarily indicate academic excellence. For retail investors, while the compliance issue is resolved, the fundamental challenges of competing in the crypto mining space with capital resources remain paramount considerations.
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 鈥淟isting Rule鈥�) in connection with the filing of its annual report on Form 20-F for the fiscal year ended June 30, 2024.
On聽November 20, 2024, the Company received a notice of non-compliance from The Nasdaq Stock Market LLC (the 鈥淣asdaq鈥�) due to the delayed filing of its annual report.
On聽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 .
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
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FAQ
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