According to Golden Finance: The Bitcoin mining entity, Bit Brother Limited, has received a delisting notice from Nasdaq. The notice, which was issued on January 30, intends to apply powers delineated in Rule 5101 of the Nasdaq Listing Rules to potentially delist Bit Brother.
The primary concern leading to this decision anchors on Bit Brother's two registered offerings from October 25, and December 5, 2023, both containing a cashless exercise clause. The particular concern revolves around the warrants related to these offerings and the aftereffects of such transactions on the public interest.
Nevertheless, this notice will not immediately affect Bit Brother Limited's listing status or trading activities on Nasdaq. Nasdaq has permitted Bit Brother to participate in a hearing set for February 27 to state its case. Furthermore, Nasdaq has announced to uphold any suspension or outright delisting actions until the hearing process concludes.