Bit Origin regains compliance with Nasdaq listing requirement

Bit Origin (BTOG) has received formal notice from The Nasdaq Stock Market on July 1, confirming that the Company has regained compliance with the equity standard under Listing Rule 5550(b)(1), which requires listed companies to maintain a minimum of $2.5M in stockholders’ equity. On January 3, Nasdaq notified the Company of its non-compliance with the continued listing standards relating to stockholders’ equity, market value of listed securities, or net income from continuing operations. In response, the Company submitted a Form 6-K on June 30, demonstrating that it satisfies the required stockholders’ equity threshold. As a result, Nasdaq has determined that the Company now meets the equity requirement. Although the Company now satisfies the equity requirement, it remains subject to ongoing monitoring.