Bit Brother secured potential collaboration with Blockworx1 for a sale price of $1,200,000

CHANGSHA, China, January 25, 2023 /PRNewswire/ — Bit Brother Limited (the “Company”, “we”, “BTB” or “Bit Brother”) (NASDAQ: BTB), through its subsidiary Bit Brother New York Inc (“BTB NY”), co-signed an LOI Blockworx1 LLC (“Blockworx1”) for the potential sale of assets and services for the Aggregate Purchase Price of $1,200,000.

Blockworx1 is listing for sale a 2 acre lot designated for industrial use at 5418 Lockheed Way. Abilene, TX 79603 (“Property”), which includes 5 MW of existing electrical payload and potentially scalable to 10 MW of total electrical load. Blockworx1 will also provide development services to complete the development of the above property cryptocurrency Mining, including site design, selection and supervision of contractors, coordination in obtaining project permit and final acceptance, negotiation and procurement of power purchase agreements for 5 MW electrical load, advice and support for cryptocurrency Mining hardware and site management after electrification to operationalize 5 MW mining capacity.

About Bit Brother Limited

Bit Brother Limited (formerly known as Urban TeaInc.) was included in the British Virgin Islands as a limited liability company November 28, 2011. Our business currently consists of distribution and retail of specialty teas. We have conducted research and planning of our blockchain technology and cryptocurrency Mining business since 2021. For more information, visit: www.bitbrother.com

Forward-Looking Statements

This press release contains certain statements, which may include “forward-looking statements.” All statements contained herein, other than statements of historical fact, are “forward-looking statements.” These forward-looking statements are often characterized by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions that involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. These risks and uncertainties include, but are not limited to, the risk factors described by BTB in its filings with the Securities and Exchange Commission (“SEC”). These risk factors and those identified elsewhere in this press release could cause actual results to differ materially from historical performance and include, but are not limited to:

  • Local government guidelines and regulatory oversight cryptocurrency mining operations and our other operations;
  • BTB’s cryptocurrency The mining business is still evolving, with many uncertainties in the future alignment and integration of BTB’s other business segments;
  • Error managing the rebooted cryptocurrency mining business effective;
  • The lack of access to a large amount of electricity at a reasonable cost could significantly increase BTB’s operating costs and affect demand for BTB’s mining activities;
  • Any significant or prolonged outage in the cryptocurrency Mining facilities that BTB operates or provides, including events beyond its control, would result in significant costs and disruption and reduce the attractiveness of its facilities, damage its reputation as a business and have a material adverse effect on its results of operations;
  • security breaches or alleged security breaches of our cryptocurrency Mining servers could disrupt BTB’s operations and have a material adverse effect on its business, financial condition and results of operations; and
  • fluctuation of crypto Price;
  • Other risks and uncertainties identified in BTB’s SEC reports or documents filed or to be filed by BTB with the SEC.

Accordingly, forward-looking statements should not be relied upon as representing our views as of a later date, and you should not place undue reliance on these forward-looking statements in making a decision about whether to invest in our securities. We undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date they are made, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

www.bitbrother.com

SOURCE Bit Brother Limited

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