Financial Performance - In the fiscal year ended December 31, 2024, the company generated revenue of $11.7 million from its cryptocurrency business, with a net loss of $2.0 million[40]. - For the fiscal year ended December 31, 2024, 10.2% of total revenue was generated from bitcoin mining, 78.1% from mining machines resale, 10.1% from mining machines rental, and 1.6% from other mining-related businesses[187]. - The company mined cryptocurrencies valued at US$2.4 million, US$2.9 million, and US$1.2 million for the fiscal years ended December 31, 2022, 2023, and 2024, respectively[204]. - In the fiscal year ended December 31, 2022, the company sold 944 mining machines generating revenue of US$8.82 million, which constituted 74.5% of total revenue[213]. - For the fiscal year ended December 31, 2023, the company sold 815 mining machines generating revenue of US$5.5 million, which constituted 60.5% of total revenue[213]. - In the fiscal year ended December 31, 2024, the company sold 1,191 mining machines generating revenue of US$9.1 million, which constituted 78.1% of total revenue[213]. - The company generated US$0.62 million in revenue from mining machine rentals in the fiscal year ended December 31, 2022, representing 5.3% of total revenue[217]. - For the fiscal year ended December 31, 2023, the company generated US$0.3 million in revenue from mining machine rentals, representing 2.8% of total revenue[218]. Market and Regulatory Risks - The company's total revenue and cash flow will become materially dependent on the market value of digital assets and the volume of digital assets received from mining efforts[41]. - The price of new mining machines may be linked to the market price of bitcoin, which could adversely affect the company's financial condition and results of operations[36]. - The trading price of bitcoin has historically been subject to wide swings, which could materially affect the company's business and results of operations[38]. - The cryptocurrency market is characterized by significant volatility, influenced by various factors including market conditions and regulatory changes[44]. - The company may face increased compliance costs due to potential regulatory changes regarding cryptocurrencies[43]. - The company may need to alter its business operations to comply with additional regulations imposed by government entities, which could adversely affect its financial position[43]. - The company faces risks from potential regulatory actions that could restrict the acquisition, ownership, or use of Bitcoin in various countries[101]. - Regulatory changes could classify bitcoin as an investment security, potentially requiring the company to register as an investment company, which could disrupt operations[116]. - Future regulatory developments may impose additional compliance costs or operational changes, potentially affecting the company's business model and financial condition[122]. - The evolving nature of cryptocurrency regulations may create operational challenges and increase costs for the company[129]. Operational Challenges - The company has a limited operating history in the blockchain and cryptocurrency business, making future prospects difficult to evaluate[40]. - The cost of acquiring new mining machines remains capital intensive, which may adversely affect the company's business and results of operations[47]. - The profitability of mining operations is contingent on the costs of mining machines and electricity being lower than the selling prices of mined cryptocurrencies[47]. - The global supply chain for mining machines is constrained due to semiconductor shortages, resulting in increased pricing and limited availability[53]. - The demand for electrical power is expected to grow as mining operations expand, and any inability to secure sufficient power could hinder operational benefits[64]. - Increased labor costs and a shortage of skilled workers may hinder the operating entities' ability to attract and retain qualified personnel, potentially increasing operating costs[78]. - Disruptions to power supply and internet access could adversely affect bitcoin mining operations and the overall value of bitcoin, impacting business results[79]. - The operating entities may pursue acquisitions in the cryptocurrency industry, but integration challenges could lead to unforeseen costs and operational difficulties[81]. - The operating entities are subject to risks related to intellectual property disputes, which could result in significant liabilities and increased operational costs[80]. - The operating entities' management team is crucial for success, and loss of key personnel could significantly disrupt business operations and growth prospects[82]. Cybersecurity and Custody Risks - The company faces risks from potential cyber-attacks that could compromise access to its cryptocurrency holdings[68]. - The operating entities face significant cybersecurity risks, including potential loss of cryptocurrencies due to software or cybersecurity events, which could materially affect their business and operations[71]. - The company has established processes to manage custody risk associated with cryptocurrency holdings, but there are no assurances that these processes will be secure or effective[71]. - The cryptocurrencies held by the company are not insured, posing risks of loss or theft that could adversely affect operations[63]. - The company’s bitcoin holdings are not protected by FDIC or SIPC, exposing them to potential losses without recourse[114]. Market Dynamics and Competition - Bitcoin's aggregate market value fluctuated significantly, reaching over $1.4 trillion in March 2024 after a decline to $0.37 trillion in October 2022[44]. - The speculative nature of Bitcoin's price and its historical volatility pose risks to the company's business and operations[89]. - Competition from other financial vehicles and cryptocurrencies may limit the market for the company's shares and reduce liquidity[102]. - The decentralized governance of the Bitcoin network may lead to ineffective decision-making, potentially slowing development and growth[106]. - Demand for bitcoin may decline if alternative digital assets become more desirable, negatively impacting bitcoin's price and the company's investments[112]. - Concentrated ownership of bitcoin could lead to market volatility, adversely affecting bitcoin's market price and the company's financial results[115]. Future Plans and Developments - The company plans to grow its cryptocurrency business by increasing the number of mining machines in its fleet, enhancing profitability during high bitcoin prices[195]. - The company intends to invest in research and development to design a proprietary model of ASIC mining machines dedicated to bitcoin mining[197]. - The company has launched a mining machines resale and rental business to mitigate risks from bitcoin price fluctuations, which have historically been significant[189]. - The company aims to expand its research and development team and upgrade facilities by 2025 to enhance its capabilities in the cryptocurrency industry[197]. - The company plans to launch additional crypto asset management services, including crypto wallets and custody solutions, by 2025[198]. - The company intends to offer competitive prices for its mining machine rental business to attract more customers[201]. Corporate Governance and Structure - The company is incorporated under Cayman Islands law, which may limit shareholders' ability to protect their interests compared to U.S. companies[152]. - The company has incurred increased costs due to public company status, including compliance with the Sarbanes-Oxley Act, which may strain resources[160]. - The company underwent a merger process in March 2020, with significant investments totaling US$32 million from various parties[164]. - The company consolidated its 500,000,000 ordinary shares into 25,000,000 shares, effective August 23, 2023, with a new par value of US$0.06 each[167]. - The company changed its name from "Meten Holding Group Ltd." to "BTC Digital Ltd." effective August 18, 2023[168]. - The company does not expect to pay dividends on ordinary shares in the foreseeable future, retaining earnings for business development and expansion[147]. - The board of directors has complete discretion over dividend distribution, which will depend on future operational results, cash flow, and other factors[148]. - The company may issue additional ordinary shares or equity securities without shareholder approval, which could dilute existing ownership interests and depress market prices[146]. - The issuance of additional shares could decrease existing shareholders' ownership interest and cash available per share, potentially leading to a decline in market price[150]. - The company's amended articles include anti-takeover provisions that may limit shareholders' opportunities to sell shares at a premium[151].

ME Therapeutics Announces That Its First Therapeutic mRNA Candidate Shows Encouraging Anti-Cancer Efficacy in VivoJanuary 14, 2025 9:27 AM EST | Source: ME Therapeutics Holdings Inc.Vancouver, British Columbia--(Newsfile Corp. - January 14, 2025) - ME Therapeutics Holdings Inc. (CSE: METX) (FSE: Q9T) ("ME Therapeutics" or the "Company"), a preclinical stage biotechnology company working on novel cancer fighting drugs in the field of immuno-oncology, is pleased to announce that its first therap ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Cayman Islands Not Applicable (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Title of Each Class: Trading Symbol(s): Name of Each Exchange on Which Registered: Ordinary Shares, par value $0.06 per share BTCT The Nasdaq Stock Market LLC Warrants, each exercisable for 1/600 ordinary shares BTCTW The Nasdaq Stock Market LLC FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

ME Therapeutics Announces the Start of Testing of First mRNA Formulations from NanoVation Therapeutics CollaborationSeptember 18, 2024 9:00 AM EDT | Source: ME Therapeutics Holdings Inc.Vancouver, British Columbia--(Newsfile Corp. - September 18, 2024) - ME Therapeutics Holdings Inc. (CSE: METX) (FSE: Q9T) ("ME Therapeutics" or the "Company"), a preclinical stage biotechnology company working on novel cancer fighting drugs in the field of immuno-oncology, is pleased to announce the start of ef ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ___________________ Commission file number: 001-39258 BTC Digital Ltd. (Exact name of registrant as specified in its charter) | --- | |------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ___________________ Commission file number: 001-39258 BTC Digital Ltd. (Exact name of registrant as specified in its charter) | --- | |----------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to ___________________ Commission file number: 001-39258 BTC Digital Ltd. (Exact name of registrant as specified in its charter) | --- | |---------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d ...