Bit Origin (BTOG) Announces 1-for-60 Reverse Stock Split to Maintain Nasdaq Compliance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Reverse Stock Split Plan: Bit Origin announced a 1-for-60 reverse stock split effective January 20, 2026, aimed at supporting the company's compliance with Nasdaq's minimum bid price requirement to ensure continued listing.
- Impact on Shares: The reverse split will reduce the company's outstanding Class A shares from approximately 88.6 million to about 1.5 million, while Class B shares will decrease from 768,000 to 12,800, significantly enhancing the per-share value.
- New CUSIP Number: Following the reverse split, the new CUSIP number for Class A shares will be G21621134, ensuring investors can accurately identify and trade the new shares.
- Management Statement: CEO Jinghai Jiang stated that this move is intended to enhance the company's compliance and stability in the capital markets, thereby laying a foundation for future growth.
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About BTOG
Bit Origin Ltd is a holding company. The Company through its subsidiary, SonicHash LLC (SonicHash US), it is engaged in Bitcoin mining in the United States. It uses computers called miners to generate Bitcoins, a type of digital asset (also known as a cryptocurrency). It focuses on existing layouts and mining sites in the United States (US). The Company does not have miners for other cryptocurrencies. The Company’s subsidiaries include SonicHash Inc, SonicHash Pte. Ltd., and SonicHash LLC. SonicHash US has approximately 3,200 miners with a hash power of over 304.8 petahashes per second (PH/s) deployed in a Cheyenne, Wyoming facility and has delivered over 1,050 miners with a hash power of around 99.1 PH/s to the same facility, ready for deployment with Phase II of the mining facility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
