Nasdaq-listed company Nature's Miracle Holding Inc. (NMHI) received a delisting notice because the company failed to comply with the minimum shareholder equity requirements set forth in Nasdaq Listing Rule 5550 (b) (1). The notice states that trading of the company's common stock and warrants will be suspended on Nasdaq, effective from the opening of the market on January 15, 2025.
In December last year, NMHI announced that it would acquire 90% of the fully diluted shares of Bitcoin mining company JY Marigold Ltd. for a total purchase price of US$5.32 million. The latter is currently building a 14-megawatt Bitcoin mining facility, which is expected to be operational in the first half of 2025. The first phase of the transaction (9MW) is expected to be completed in the first quarter of 2025, and the second phase (5MW) is expected to be completed in the second quarter of 2025.