BETS Announces Mining Results for 2023

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Bit Brother Limited (“the Company,” “we,” or “Bit Brother”) (NASDAQ: BETS) announced the unaudited results of its mining farm for the year ended December 31, 2023. The Company currently operates two mining farms located in the United States.

Site No. 1 in Clyde, Texas, began operations on January 17, 2023, and reached full design capacity of 6 MW this past May after installing 1.5 MW of mining servers. Site No. 2 in Abilene, Texas, is expected to become operational in mid-January 2024. Key facts 2023.

As of December 31, 2023, Site #1 had mined approximately 136 Bitcoins, generating approximately $6.2 million in revenue based on the price of Bitcoin last December. As of December 31, 2023, Site No. 1 achieved approximately $1 million in electricity and energy management savings through its Electric Reliability Council (ERCOT) price cap agreement with a Retail Electric Supplier (REP) US dollars.

Strategic plan for 2024 Site 2 is expected to be operational in mid-January 2024 and will produce approximately 12 BTC monthly from an initial batch of 3,300 S19 mining servers. Thus, sites 1 and 2 should achieve a total productivity of 24 BTC per month, provided that the servers are functioning normally. Bit Brother has entered into a consulting agreement with Cruxforce, LLC, the purpose of which is to find a mining farm with a maximum power supply capacity of 40 MW for Site No. 3.

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