Bit Brother Limited (the “Company,” “we”, “BTB” or “Bit Brother”) is pleased to announce till the time this Press Release is published, all 1,400 S19J Pro cryptocurrency mining servers have been operating with the total hash rate of 140,000 TH/S in Texas mining farm, which is owned by BTB’s subsidiary Bit Brother New York Inc (“BTB NY”). And 2.39 Bitcoin has been mined.
The Company seeks to provide as much transparency about its bitcoin mining operation as possible. The link below reflects the BTC we have mined in real-time:
https://www.blockchain.com/explorer/addresses/btc/37frzvqQeAzf6hWj4J9zrEzZf4WJoo3sRR
Ralph Jones, CEO of BTB New York, commented gladly, “The operating of the 1,400 mining servers is an important step which reflects the substantial achievement of BTB’s North American blockchain business, and represents that BTB’s transformation into the block industry was successful. Management team of BTB will continue to explore more green power to expand the mining farms, purchase more mining servers, and devote more computing power. The Company is committed to develop its cryptocurrency and blockchain businesses to benefit the Company, as well as its shareholders.”
These mining results do not include any financial results for the Company and do not address the Company’s other, non-mining operations. United States generally accepted accounting principles for cryptocurrency mining are complex, emerging, and uncertain. Cryptocurrencies may not be recognized as cash or cash equivalents, and mining activities may not qualify for revenue recognition. Cryptocurrencies have no inherent value, are not legal tender recognized by any governmental entity, and might not be able to be converted into fiat currencies. Investors are advised not to place undue reliance on mining results alone, without considering other financial and non-financial metrics.
Bit Brother Limited (formerly known as Urban Tea, Inc.) was incorporated in the British Virgin Islands as a company with limited liability on November 28, 2011. Our business currently consists of cryptocurrency mining in North America, and the distribution and retail of specialty tea products. For more information, please visit: www.bitbrother.com
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