Bit Origin Ltd Prepares for Upcoming Share Capital Hearing

Author: Henry Turner Updated: 05-16-2025 04:31 PM

Bit Origin Ltd Announces Court Hearing for Share Capital Reduction

Bit Origin Ltd (NASDAQ: BTOG) is making headlines as it gears up for a significant court hearing regarding its share capital reduction proposal. As a growing player in the cryptocurrency mining sector, the company is on a trajectory of expansion and strategic adjustments. The hearing is scheduled to take place before the Grand Court of the Cayman Islands, where the confirmation of the share capital reduction will be considered.

Details of the Proposed Share Capital Reduction

In an official report filed recently, it was revealed that the Company has sought a reduction in the par value of each authorized share. This proposal, which aims to reduce the par value from US$0.30 to an astonishing US$0.000001 per share, indicates the Company's efforts to regroup and streamline its capital structure. Following the reduction, Bit Origin Ltd will possess an authorized capital of US$500, allowing for the issuance of 500 million shares, which includes substantial Class A and Class B Ordinary Shares.

Timeline and Procedure for the Hearing

The petition for the share capital reduction was submitted to the Grand Court of the Cayman Islands earlier this month, targeting the scheduled hearing at 10:00 a.m. on the specified date. Shareholders and creditors who wish to voice any opposition to this move must inform the Company's legal representatives, Mourant Ozannes (Cayman) LLP, at least 24 hours before the hearing, ensuring a transparent and orderly process.

How to Participate in the Hearing

If you hold shares or are a creditor of Bit Origin Ltd and desire to oppose the order for confirmation, it's crucial to act promptly. Notice should be given to the company’s legal counsel before the deadline, allowing everyone to express their viewpoints during the court proceedings. The purpose of this hearing is to ensure all voices are heard, and appropriate measures taken regarding the share capital reduction.

About Bit Origin Ltd

Formerly known as China Xiangtai Food Co., Ltd., Bit Origin has transformed into a burgeoning entity within the cryptocurrency space. The company is actively establishing itself with innovative blockchain technologies and diverse expansion strategies. With a firm commitment to evolving in this competitive sector, Bit Origin is focused on maximizing its potential in crypto mining, contributing to an evolving financial landscape.

Company Contact Information

For any inquiries regarding the share capital reduction or the company’s future plans, interested parties can contact the Company directly. Mr. Jiang Jinghai serves as the Chairman of the Board, CEO, and COO of Bit Origin Ltd. You can reach out via email at ir@bitorigin.io.

Frequently Asked Questions

What is the reason for the share capital reduction?

The reduction is intended to streamline the Company’s capital structure by decreasing the par value of shares, facilitating easier capital mobilization.

When is the court hearing for the share capital reduction?

The hearing is set for 10:00 a.m. on a specified date, where shareholders and creditors can express their opinions.

How can I oppose the share capital reduction?

Interested parties must notify Mourant Ozannes (Cayman) LLP at least 24 hours before the hearing to be heard during the proceedings.

Who can provide more details about Bit Origin Ltd?

Information regarding the Company can be requested via email, specifically directed to Mr. Jiang Jinghai, the CEO and Chairman.

What activities is Bit Origin Ltd engaged in?

Bit Origin Ltd is primarily focused on cryptocurrency mining and deploying blockchain technologies to drive its growth in a competitive market.

About The Author

Hi there, As a writer and financial specialist, Henry Turner is passionate about guiding people through the complex world of finance. Having worked in finance for many years, I am an expert at simplifying difficult financial ideas into understandable, useful insights for my blog and articles. My goal is to arm you with the confidence and information you need to make wise financial choices.

Writing for a number of financial blogs has allowed me to interact with readers from novice investors looking for fresh ideas to seasoned investors starting their financial journeys. My mission is to enable everyone to understand and access finance, so enabling you to confidently and clearly reach your financial goals. I appreciate you traveling with me toward success and financial literacy.

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