Bit Origin Ltd. Files 20-F for FY2024

TL;DR

Bit Origin Ltd. filed its 20-F for June 30, 2024. Check financials.

AI Summary

Bit Origin Ltd. filed its 20-F for the fiscal year ending June 30, 2024. The company, formerly known as China Xiangtai Food Co., Ltd., is incorporated in E9 and operates in the Finance Services sector. Its business address is located at 27F, Samsung Hub, 3 Church Street, Singapore.

Why It Matters

This filing provides investors with a comprehensive overview of Bit Origin Ltd.'s financial performance and business operations for the past fiscal year, crucial for understanding its current standing and future prospects.

Risk Assessment

Risk Level: medium — The filing indicates a history of name changes and operates in the finance services sector, which can carry inherent risks.

Key Numbers

• 0.03 — Prime Rate Member (Indicates a specific financial metric related to prime rate.)
• 0.03 — P24M (Represents a financial metric for a 24-month period.)
• 0.03 — P5D (Represents a financial metric for a 5-day period.)

Key Players & Entities

• BIT ORIGIN Ltd (company) — Filer
• China Xiangtai Food Co., Ltd. (company) — Former Company Name
• 20240630 (date) — Conformed Period of Report
• 20241226 (date) — Filed as of Date
• 0001735556 (company) — Central Index Key
• 6199 (industry_code) — Standard Industrial Classification
• 347-556-4747 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.30 — registered Ordinary shares, par value $0.30 per share BTOG The Nasdaq Stock Mar
• $ — f Bit Origin Ltd; and "U.S. dollars," "$," "US$," and "dollars" are to the legal

Filing Documents

• btog-20240630x20f.htm (20-F) — 3149KB
• btog-20240630xex1d1.htm (EX-1.1) — 196KB
• btog-20240630xex2d11.htm (EX-2.11) — 116KB
• btog-20240630xex8d1.htm (EX-8.1) — 4KB
• btog-20240630xex12d1.htm (EX-12.1) — 11KB
• btog-20240630xex12d2.htm (EX-12.2) — 11KB
• btog-20240630xex13d1.htm (EX-13.1) — 5KB
• btog-20240630xex13d2.htm (EX-13.2) — 5KB
• btog-20240630xex15d1.htm (EX-15.1) — 3KB
• btog-20240630xex97d1.htm (EX-97.1) — 30KB
• btog-20240630x20f001.jpg (GRAPHIC) — 28KB
• btog-20240630x20f002.jpg (GRAPHIC) — 11KB
• btog-20240630x20f003.jpg (GRAPHIC) — 5KB
• btog-20240630xex1d1001.jpg (GRAPHIC) — 6KB
• 0001410578-24-002113.txt ( ) — 12832KB
• btog-20240630.xsd (EX-101.SCH) — 103KB
• btog-20240630_cal.xml (EX-101.CAL) — 87KB
• btog-20240630_def.xml (EX-101.DEF) — 376KB
• btog-20240630_lab.xml (EX-101.LAB) — 805KB
• btog-20240630_pre.xml (EX-101.PRE) — 584KB
• btog-20240630x20f_htm.xml (XML) — 1975KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents Table of Contents Page PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 5 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 5 ITEM 3. KEY INFORMATION 5 ITEM 4. INFORMATION ON THE COMPANY 36 ITEM 4A. UNRESOLVED STAFF COMMENTS 54 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 54 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 64 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 72 ITEM 8. FINANCIAL INFORMATION 73 ITEM 9. THE OFFER AND LISTING 73 ITEM 10. ADDITIONAL INFORMATION 74 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 92 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 92 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 93 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 93 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 94 ITEM 16. [RESERVED] 95 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 95 ITEM 16B. CODE OF ETHICS 95 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 95 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 95 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 95 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 96 ITEM 16G. CORPORATE GOVERNANCE 96 ITEM 16H. MINE SAFETY DISCLOSURE 97 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 97 ITEM 16J. INSIDER TRADING POLICIES 97 ITEM 16K. CYBERSECURITY 97 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 98 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 98 ITEM 19. EXHIBITS 98 2 Table of Contents Conventions Used in this Annual Report Unless otherwise indicated or the context requires otherwise, references in this annual report on Form 20-F to: "Bit Origin", "our company", the "Company", "we", "us", and "our" are to Bit Origin Ltd (formerly known as China Xiangtai Food Co., Ltd.), an exempted company incorporated in the Cayman Islands with limited liability; "China" or the "PRC" are to the People's Republic of China, excluding Taiwan for the purposes of this annual report only; "RMB" are to the legal currency of China; "SEC" are to the United States Securities and Exchange Commission; "Sonic Auspice" are to Sonic Auspice DC LLC, a Delaware limited liability company and a subsidiary of Bit Origin Ltd; "SonicHash Canada" are to SonicHash Inc., a company organized under the laws of Alberta, Canada, and a subsidiary of Bit Origin Ltd; "SonicHash US" are to SonicHash LLC, a Delaware limited liability company and a subsidiary of Bit Origin Ltd; and "U.S. dollars," "$," "US$," and "dollars" are to the legal currency of the United States; The financial results as of the for the fiscal years ended June 30, 2022 contained in this annual report on 20-F contains translations of certain RMB amounts into U.S. dollar amounts at specified rates solely for the convenience of the reader. The relevant exchange rates are listed below. No representation is made that the RMB amounts referred to in this annual report could have been or could be converted into U.S. dollars at such rate: For the Ten Months Ended April 30, 2022 Period Ended RMB: US$ exchange rate 6.61 Period Average RMB: US$ exchange rate 6.41 We have relied on statistics provided by a variety of publicly-available sources regarding the industry we are involved in. We did not, directly or indirectly, sponsor or participate in the publication of such materials, and these materials are not incorporated in this annual re

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable for annual reports on Form 20-F.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable for annual reports on Form 20-F.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. [Reserved] 3.B. Capitalization and Indebtedness Not applicable for annual reports on Form 20-F. 3.C. Reasons for the Offer and Use of Proceeds Not applicable for annual reports on Form 20-F. 3.D. Risk Factors Summary Risk Factors You should carefully consider all of the information in this annual report before making an investment in our ordinary shares. Below please find a summary of the principal risks and uncertainties we face, organized under relevant headings. These risks are discussed more fully under "Item 3. Key Information—3.D. Risk Factors." Risks Related to Our Business and Industry If we are unable to successfully implement our crypto mining business plan or other business strategies as implemented in the future, it would affect our financial and business condition and results of operations (see page 9 of this annual report); Our results of operations are expected to be impacted by significant fluctuation of Bitcoin price (see page 10 of this annual report); If, pursuant to our hosting service contracts with hosting service providers, hosting service providers cannot or will not supply sufficient electric power or services for us to operate our miners or if such agreements are terminated, we may be required to relocate some or all of our miners to an alternative facility, which may have a less advantageous cost structure and our business and results of operations may suffer as a result (see page 10 of this annual report); The development and acceptance of cryptographic and algorithmic protocols governing the issuance of and transactions in cryptocurrencies is subject to a variety of factors that are difficult to evaluate (see page 10 of this annual report); Banks and financial institutions may not provide banking services, or may cut off services, to businesses that engage in Bitcoin-related activities or that accept cryptocurrencies as payment, including financial institutions of investors in our securi

View Full Filing

View this 20-F filing on SEC EDGAR