Bit Origin Ltd Announces Court Hearing on June 5, 2025, for Share Capital Reduction

Core Viewpoint - Bit Origin Ltd is seeking confirmation for a proposed share capital reduction, which will be discussed in a court hearing scheduled for June 5, 2025 [1][3]. Group 1: Share Capital Reduction Details - The company approved a special resolution on March 14, 2025, to reduce the par value of each authorized share from US$0.30 to US$0.000001, pending court confirmation [2]. - Following the share capital reduction, the authorized share capital will be US$500, divided into 500,000,000 shares, including 475,000,000 Class A Ordinary Shares and 25,000,000 Class B Ordinary Shares [2]. Group 2: Court Hearing Information - A petition for the confirmation of the share capital reduction was presented to the Grand Court of the Cayman Islands on May 1, 2025, and will be heard at 10:00 a.m. on June 5, 2025 [3]. - Creditors or shareholders wishing to oppose the confirmation must notify the company's legal representatives at least 24 hours before the hearing, by June 4, 2025 [4]. Group 3: Company Background - Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., operates in the cryptocurrency mining business and is actively deploying blockchain technologies [5].