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Bitcoin mining company Bit Brother receives Nasdaq delisting notice

Bit Brother Limited recently disclosed that the company has received a delisting notice from NASDAQ, which was issued on January 30th. It plans to delist Bit Brother from NASDAQ based on the power granted by Rule 5101 of the NASDAQ Listing Rules. The reason for this decision is based on concerns arising from certain warrants with cashless exercise provisions included in Bit Brother's two registered issuances on October 25, 2023 and December 5, 2023, as well as concerns about the related public interest arising from such transactions. However, this delisting notice will not immediately affect Bit Brother Limited's listing and trading. NASDAQ has allowed it to participate in a hearing on February 27th to explain the situation. Before the hearing process is completed, NASDAQ will continue to suspend any trading or delisting actions.

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