Bit Origin Ltd. (NASDAQ: BTOG) completed a 1‑for‑60 reverse stock split on January 20 2026, consolidating every sixty shares into one. The move reduces the company’s outstanding Class A shares from roughly 88.6 million to about 1.5 million and Class B shares from 768,000 to 12,800, while the ticker symbol remains BTOG. The split is intended to lift the company’s share price above Nasdaq’s $1.00 minimum bid‑price requirement under Listing Rule 5550(a)(2).
The reverse split also triggers a proportional reduction in the number of authorized ordinary shares and changes the par value of post‑split shares to $0.00006. All outstanding options, warrants, and other securities that grant the right to purchase ordinary shares will be adjusted to reflect the new share structure. Shareholders who would have received fractional shares after the split will instead receive a full share, ensuring no fractional ownership remains.
Bit Origin’s Nasdaq compliance history has been turbulent. The company received a delisting extension until February 16 2026 to regain the minimum bid‑price threshold, following a non‑compliance notice issued in February 2025. A prior 1‑for‑30 reverse stock split in May 2023 and a share‑capital reduction completed in July 2025 illustrate a pattern of using share‑structure changes to manage the share price and meet listing standards. The current reverse split is the latest step in this ongoing effort.
Financially, Bit Origin has been under severe pressure. Revenue fell 98.63% in 2025 compared with the previous year, and the company has posted significant losses. As a Bitcoin‑mining operator, its earnings are highly sensitive to cryptocurrency price volatility and operating costs. The reverse split is a symptom of the company’s struggle to maintain a viable share price in the face of declining revenue and profitability.
CEO Jinghai Jiang said the reverse split “is intended to support our efforts to maintain compliance with Nasdaq’s minimum bid‑price requirement under Listing Rule 5550(a)(2). While the reverse split is a step toward compliance, the company cannot assure that it will be able to regain or maintain compliance with Nasdaq’s continued listing standards.” He added that the company remains focused on executing strategic initiatives to enhance long‑term value for shareholders.
The reverse split underscores the company’s ongoing risk of delisting if it fails to meet Nasdaq’s listing standards. While the move may temporarily lift the share price above the $1 threshold, it does not address the underlying revenue and profitability challenges. Investors should view the reverse split as a short‑term compliance measure rather than a sign of improved financial health.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.