Bit Brother New York Saved $200,000 in Electricity Costs Through the “Hedged Electricity Price” Power Supply Agreement

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CHANGSHA, China, Sept. 12, 2023 /PRNewswire/ — In December 2022, Bit Brother Restricted (the “Firm,” “we” or “Bit Brother”) (NASDAQ: BTB), by way of its subsidiary in New York, Bit Brother New York Inc. (“BTB NY”), entered right into a “Hedged Electrical energy Value” energy provide settlement with a retail electrical energy supplier (REP) throughout the jurisdiction of the Electrical Reliability Council of Texas (ERCOT) for a time period of 5 years. BTB NY’s present 6 MW mine’s working energy prices, which accounts for 90% of its whole working prices, is not going to be affected by any excessive climate circumstances and/or lack of vitality provide through the five-year time period by way of the hedged electrical energy worth energy provide settlement. In the meantime, with the Firm’s devoted operation staff complemented by AI expertise using numerous formulation to mitigate operational dangers, it’s anticipated that we can persistently preserve a low common electrical energy worth of roughly 5.25 cents/KWH till December 2027.

Since June 2023, the electrical energy worth started fluctuating as traditional in Texas, and BTB NY saved an combination of roughly $200,000 in electrical energy prices by way of the “electrical energy worth peak adjustment” mechanism within the energy provide settlement.

About Bit Brother Restricted

Bit Brother Restricted (previously referred to as City Tea, Inc.) was included within the British Virgin Islands as an organization with restricted legal responsibility on November 28, 2011. Our enterprise at the moment consists of the distribution and retail of specialty tea merchandise. We began our cryptocurrency mining enterprise since December 2022. For extra info, please go to: http: www.bitbrother.com.

Ahead-Wanting Statements

Sure statements on this press launch might represent “forward-looking statements” throughout the which means of the federal securities legal guidelines, together with, however not restricted to, our expectations for future monetary efficiency, enterprise methods or expectations for our enterprise. These statements represent projections, forecasts and forward-looking statements, and aren’t ensures of efficiency. The Firm cautions that forward-looking statements are topic to quite a few assumptions, dangers and uncertainties, which change over time. Phrases equivalent to “might,” “can,” “ought to,” “will,” “estimate,” “plan,” “undertaking,” “forecast,” “intend,” “anticipate,” “anticipate,” “imagine,” “search,” “goal,” “look” or comparable expressions might establish forward-looking statements. Particularly, forward-looking statements might embrace statements referring to the Firm’s:

capacity to have the 6 MW mine plant totally operational as a crypto internet hosting middle;
capacity to safe the “Hedged electrical energy worth” energy provide over subsequent 5 years at phrases acceptable to the Firm;
anticipated hash price for the mining rigs to be hosted on the plant;
capacity to execute its marketing strategy;
growth plans and alternatives.

These forward-looking statements are based mostly on info obtainable as of the date of this press launch and our administration’s present expectations, forecasts and assumptions, and contain quite a few judgments, dangers and uncertainties which will trigger precise outcomes or efficiency to be materially completely different from these expressed or implied by these forward-looking statements.

Sure dangers and uncertainties embrace, however not are restricted to, the chance elements described by Bit Brother in its filings with the Securities and Alternate Fee (“SEC”), which can be found on the SEC’s web site (http://www.sec.gov). These danger elements and people recognized elsewhere on this press launch, amongst others, might trigger precise outcomes to vary materially from historic efficiency and embrace, however aren’t restricted to:

Bit Brother’s blockchain expertise and cryptocurrency mining enterprise are nonetheless beneath growth, with many uncertainties within the execution of its marketing strategy;
failure to entry a big amount of energy at cheap prices might considerably improve the Firm’s working bills;
federal and state authorities’s insurance policies and regulatory oversight of crypto forex mining operation;
different dangers and uncertainties indicated in Bit Brother’s SEC stories or paperwork filed or to be filed with the SEC by Bit Brother.

Accordingly, forward-looking statements shouldn’t be relied upon as representing our views as of any subsequent date, and you shouldn’t place undue reliance on these forward-looking statements in deciding whether or not to put money into our securities. We don’t undertake any obligation to replace forward-looking statements to mirror occasions or circumstances after the date they have been made, whether or not on account of new info, future occasions or in any other case, besides as could also be required beneath relevant securities legal guidelines.

Contact: contactus@bitbrother.com, +86-0731-82290658

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