Bit Origin Regains Nasdaq Compliance After Filing Annual Report, Resolving Listing Concerns
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 conformità 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 società aveva precedentemente ricevuto un avviso di non conformità 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 minería de criptomonedas, ha vuelto a cumplir con éxito la Regla de Cotización 5250(c)(1) de Nasdaq tras la presentación de su informe anual en el Formulario 20-F para el año fiscal que terminó el 30 de junio de 2024. La compañía había recibido anteriormente un aviso de no conformidad de Nasdaq el 20 de noviembre de 2024, debido a un retraso en la presentación. El 27 de diciembre de 2024, Nasdaq confirmó que Bit Origin ha cumplido con el requisito de cotización para la presentación oportuna de informes financieros periódicos a la SEC.
비트 오리진 (NASDAQ: BTOG), 암호화폐 채굴 회사가 2024년 6월 30일로 종료된 회계 연도에 대한 20-F 양식의 연차 보고서를 제출한 후 나스닥 상장 규칙 5250(c)(1) 준수를 성공적으로 회복했습니다. 이 회사는 2024년 11월 20일에 제출 지연으로 인해 나스닥으로부터 비준수 통지를 받았습니다. 2024년 12월 27일, 나스닥은 비트 오리진이 SEC에 대한 주기적인 재무 보고서의 적시 제출이라는 상장 요건을 충족했음을 확인했습니다.
Bit Origin (NASDAQ: BTOG), une entreprise de minage de crypto-monnaies, a réussi à retrouver sa conformité avec la règle de cotation 5250(c)(1) de Nasdaq suite au dépôt de son rapport annuel sur le formulaire 20-F pour l’exercice clos le 30 juin 2024. L’entreprise avait précédemment reçu un avis de non-conformité de Nasdaq le 20 novembre 2024 en raison d’un retard dans le dépôt. Le 27 décembre 2024, Nasdaq a confirmé que Bit Origin pouvait respecter les exigences de cotation pour le dépôt en temps voulu des rapports financiers périodiques à la SEC.
Bit Origin (NASDAQ: BTOG), ein Unternehmen für Krypto-Mining, hat erfolgreich die Einhaltung der Nasdaq-Listing-Regel 5250(c)(1) wiederhergestellt, nachdem es seinen Jahresbericht auf Formular 20-F für das am 30. Juni 2024 endende Geschäftsjahr eingereicht hat. Das Unternehmen erhielt zuvor am 20. November 2024 eine Mitteilung über die Nichteinhaltung von Nasdaq aufgrund einer verspäteten Einreichung. Am 27. Dezember 2024 bestätigte Nasdaq, dass Bit Origin die Zulassungsanforderung für die fristgerechte Einreichung von vierteljährlichen Finanzberichten bei der SEC erfüllt hat.
Positive
- Regained Nasdaq listing compliance, removing the risk of potential delisting
- Successfully filed required annual report Form 20-F
Negative
- 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 “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]
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FAQ
When did Bit Origin (BTOG) regain Nasdaq compliance?
Bit Origin (BTOG) regained Nasdaq compliance on December 27, 2024, after filing its annual report Form 20-F.
Why did BTOG receive a Nasdaq non-compliance notice in November 2024?
BTOG received a non-compliance notice on November 20, 2024, due to delayed filing of its annual report for the fiscal year ended June 30, 2024.
What Nasdaq rule did Bit Origin (BTOG) violate?
Bit Origin violated Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the SEC.
What was the reporting period for BTOG’s delayed annual report?
The delayed annual report was for the fiscal year ended June 30, 2024.
