Bit Origin Ltd Announces Receipt of Nasdaq Notification of Minimum Stockholders' Equity Non-Compliance

Core Viewpoint - Bit Origin Ltd has received a notification from Nasdaq indicating non-compliance with the minimum stockholders' equity requirement for continued listing, reporting only $909,583 in stockholders' equity against the required $2,500,000 [1][2]. Group 1: Compliance Notification - The Notification Letter states that Bit Origin has 45 calendar days to submit a plan to regain compliance with Nasdaq's listing Rule 5550(b)(1) [2]. - If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days to demonstrate compliance [2]. - The Notification Letter does not have an immediate effect on the trading of Bit Origin's securities, which will continue to trade under the symbol "BTOG" [2]. Group 2: Company Overview - Bit Origin Ltd, previously known as China Xiangtai Food Co., Ltd., operates in the cryptocurrency mining business and is based in the United States [3]. - The company is also involved in deploying blockchain technologies and has diversified expansion strategies [3].