BTOG: 6-K · reverse split
Sangrix Inc. has called a shareholder meeting to approve a 1-for-10 reverse share consolidation of its Class A and Class B ordinary shares, effective November 13, 2026, reducing authorized shares from 200 billion to 20 billion. This is the company's third reverse split in under a year, following a 60-for-1 split in January 2026 and a 5-for-1 consolidation in August 2026 — moves driven by Nasdaq's $1.00 minimum bid price requirement. Because of those prior splits, Nasdaq rules leave the company ineligible for any compliance period: if the bid price fails for 30 consecutive trading days, the shares face immediate delisting. The filing also discloses $8.44 million of secured convertible debentures whose conversion prices can reset downward after the split, adding further dilution risk on top of the consolidation itself.
BTOG: 6-K · offering registration
Sangrix Inc. entered a securities purchase agreement on October 21, 2026 to sell 75,000 Class B Ordinary Shares at $0.4390 per share to Jinghai Jiang, the company's own Chairman, CEO and COO, for total consideration of just $32,925. The issuance was made under Section 4(a)(2) and Regulation S exemptions, and the company relied on Nasdaq's foreign private issuer exemption (Rule 5615(a)(3)) to avoid the shareholder-approval requirement that would otherwise apply under Rule 5635(d). After the issuance, Jiang holds 100% of the company's Class B shares, representing roughly 35% of total voting power — a governance-consolidating related-party transaction with de minimis proceeds.
BTOG: 6-K · other
Sangrix Inc., formerly Bit Origin Ltd, announced that its 16 NVIDIA Blackwell B300 servers (128 GPUs) are scheduled for delivery during the week of November 3, 2026, per updates from equipment seller PT Mitra Manunggal Sangkara. The ~$11 million project, originally announced June 29, 2026, had previously targeted Q3 2026 delivery, so the November window represents a modest delay. Post-delivery inspection, racking and testing are expected to take about one additional week before production deployment in Malaysia. This is the company's initial Blackwell-based AI computing capacity as it transitions from crypto mining toward AI infrastructure; commercial revenue remains contingent on successful commissioning and customer acceptance, so no revenue impact is assured yet.
Sangrix Inc. (BTOG) filed a 6-K disclosing that on August 20, 2026, all investors from its August 2025 private placement delivered notices to redeem an aggregate 66,668 Class A ordinary shares in exchange for the return of 30 million Dogecoin, the full amount they originally paid for a $6,000,000 placement. On September 22, 2026, those shares were cancelled and returned to authorized but unissued capital, leaving Sangrix with 1,881,935 Class A ordinary shares issued and outstanding. The redemption unwinds the entire DOGE-funded placement roughly thirteen months after issuance, returning the crypto consideration to investors and eliminating the associated share dilution.
BTOG: 20-F · periodic report
Sangrix Inc., formerly Bit Origin Ltd, filed its annual report on Form 20-F for the fiscal year ended June 30, 2026, confirming its transformation into a Dogecoin treasury company holding 67,543,745 DOGE with a new GPU and AI computing infrastructure business. The company no longer mines Bitcoin and states it has no current plans to make additional material Dogecoin purchases. Management disclosed a material weakness in internal control over financial reporting and restated the unaudited interim financial statements for the six months ended December 31, 2025, which contained errors in redeemable share classification, convertible debenture interest expense, and deemed dividends. The company has also received Nasdaq deficiency notifications for late annual report filing, shareholders' equity and minimum bid price, and has executed three reverse splits since 2023 (1-for-30, 1-for-60 and a 1-for-5 in August 2026). Balance-sheet pressure is acute for the micro-cap: five secured convertible debentures carry an aggregate original principal of $14,513,506, roughly 33.3 million DOGE are pledged as collateral, and 30 million DOGE are covered by outstanding redemption notices from three investors in the August 2025 private placement. On September 7, 2026 the company sold 3,000,000 DOGE for approximately $267,665 to fund working capital and planned AI infrastructure spending. The GPU pivot remains unproven: 16 NVIDIA Blackwell B300 servers had not yet been delivered or deployed as of the report date, with Malaysia deployment expected in Q3 2026 under a management agreement with PT Mitra Manunggal Sangkara providing fixed rental income of $368,640 per monthly settlement period. A pre-funded warrant for up to about 1.29 million shares post-split was issued as purchase consideration and could substantially dilute existing shareholders.
BTOG: 6-K/A · restatement
Sangrix Inc. (formerly Bit Origin Ltd., ticker BTOG) filed Amendment No. 1 to its August 6, 2026 Form 6-K to restate its unaudited condensed consolidated balance sheet as of December 31, 2025 and its statement of operations for the six months ended December 31, 2025, concluding the errors were material under SEC Staff Accounting Bulletin No. 99. The restatement reclassified $4,201,307 of Class A Ordinary Shares with redemption rights into mezzanine equity, deepening the total deficit to $6,005,529 from $1,804,222, while the corrected warrant deemed dividend lowered restated net loss attributable to the company to $16,401,583 ($59.47 per share) from the previously reported $18,383,216 ($66.65 per share); consolidated net loss was unchanged at $8,639,336. The restated balance sheet shows $8,274,781 of crypto assets and $484,970 of cash against $14,716,425 of total liabilities including $14,433,480 of convertible debentures, with zero crypto mining revenue for the period and a $7,725,219 fair-value loss on crypto assets running through operating expenses. All share and per-share amounts were retroactively adjusted for a 1-for-60 reverse share split effected January 20, 2026 and a 1-for-5 reverse split effected August 21, 2026, underscoring an equity structure that has been repeatedly compressed and a fiscal profile that remains deeply distressed.
BTOG: 6-K · ticker change
SANGRIX INC., formerly known as Bit Origin Ltd, published a press release on September 15, 2026 announcing the launch of its new corporate and investor relations website at sangrix.ai, along with a new corporate logo and an updated investor contact email, furnished to the SEC on Form 6-K. The branding rollout follows the company's September 3, 2026 rebranding announcement and underscores its strategic transition toward AI computing infrastructure, with stated focus areas of GPU computing, server leasing, storage infrastructure and related services. The company notes it continues to manage existing digital asset holdings and legacy business activities during the transition. The release contains no financial figures, contracts or capital commitments, making it a branding milestone that confirms strategy rather than a substantive business event.
BTOG: 6-K · asset sale
Sangrix Inc. (NASDAQ: SGRX), formerly Bit Origin Ltd, sold an aggregate of 3,000,000 Dogecoin on September 7, 2026 through two equal 1,500,000-DOGE transactions at a weighted average price of about US$0.089221667 per DOGE, generating approximately US$267,665 in gross proceeds. The sale followed a recovery in DOGE prices, which rose roughly 10.7% over the seven days ended September 6, 2026, from US$0.082054 on August 30 to US$0.090856 on September 6 per CoinGecko data cited in the release. Proceeds are earmarked for general working capital and planned AI infrastructure expenditures, including GPU computing equipment and deployment costs. Management said it will continue to evaluate additional sales of its remaining DOGE holdings and that audit and compliance-related work continues to progress as planned. For a micro-cap mid-pivot from crypto to AI infrastructure, the small proceeds and working-capital use flag ongoing liquidity dependence on liquidating digital assets.
Bit Origin Rebrands to SANGRIX as Part of AI Infrastructure Transition
Bit Origin Ltd (NASDAQ: BTOG) announced a corporate rebranding to SANGRIX INC., aligning its identity with its strategic transition toward AI computing and digital infrastructure. Class A ordinary shares will begin trading under the new symbol SGRX on the Nasdaq Capital Market at the open on September 4, 2026; the CUSIP stays the same and no shareholder action is required. The transition builds on a previously announced transaction involving sixteen NVIDIA Blackwell B300 AI servers, with the company also evaluating GPU computing, server leasing and storage infrastructure opportunities. Chairman and CEO Jinghai Jiang said the SANGRIX identity is an important step in communicating the strategy, while the remaining Cayman Islands registration process is still being completed.
Bit Origin Ltd (NASDAQ: BTOG) implemented a 1-for-5 reverse stock split of its Class A and Class B ordinary shares effective at the market open on August 21, 2026, following shareholder approval at the August 11, 2026 extraordinary general meeting. Outstanding Class A shares fell from 3,999,568 to approximately 799,914 and Class B shares from 105,211 to approximately 21,043, with par value raised to $0.0003 per share and new CUSIP G21621209 assigned. The stated purpose is to maintain compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. CEO and Chairman Jinghai Jiang said the split supports those efforts, but the company explicitly cautioned that it cannot assure it will regain or maintain compliance with Nasdaq's continued listing standards. The split also activates adjustment mechanics across the capital structure: warrants for 272,359 Class A shares at a $1.15 exercise price and five secured convertible debentures with roughly $14.5 million aggregate original principal can have conversion or exercise prices reset downward to market levels beginning on the 16th trading day after the split. Investors should watch that window for potential dilution if the stock trades below current conversion and exercise prices.
Bit Origin Ltd Announces 1-for-5 Reverse Stock Split Effective August 21, 2026
Bit Origin announced a 1-for-5 reverse stock split effective August 21, 2026, aimed at regaining compliance with Nasdaq's minimum bid price requirement. The split reduces outstanding Class A shares from approximately 4.0 million to 799,914 and Class B shares from 105,211 to 21,043. The company amended its Memorandum and Articles of Association to reduce authorized shares proportionately and set the new par value at $0.0003 per share.
Shareholders of Bit Origin Ltd (BTOG) approved all seven proposals at an extraordinary general meeting held August 11, 2026 in Singapore, headlined by a five-for-one share consolidation of Class A and Class B ordinary shares that takes effect on August 21, 2026. The meeting also approved a change of the company's name from BIT ORIGIN LTD to SANGRIX INC., with directors authorized to complete the filing with the Registrar of Companies of the Cayman Islands and discretion to abandon the change within one year if no longer desirable. The most striking item is the authorized share capital increase: from US$15,000 split into 237.5 million Class A and 12.5 million Class B shares to US$60,000,000 split into 950 billion Class A and 50 billion Class B shares, which becomes 190 billion Class A and 10 billion Class B after the consolidation — against only about 4.07 million Class A shares outstanding pre-split, a massive potential dilution runway. Approval leaned heavily on super-voting Class B shares (20 votes each, 100% present), while only about 15.9% of Class A shares were voted, representing 42.18% of total voting power as of the July 28, 2026 record date.
BTOG: 6-K/A · reverse split
Bit Origin Ltd (Nasdaq: BTOG) has filed an amended proxy statement asking shareholders to approve a five-for-one share consolidation of its Class A and Class B ordinary shares, effective August 21, 2026, alongside a corporate name change from Bit Origin Ltd to Sangrix Inc. The consolidation is explicitly designed to lift the share price back above Nasdaq's $1.00 minimum bid requirement. Because the company already effected a 60-for-1 reverse split on January 20, 2026, Nasdaq rules deny it any compliance period if the bid price fails again — the shares would face immediate delisting proceedings after 30 consecutive deficient trading days, and a close at $0.10 or below for 10 straight business days would trigger immediate suspension. Shareholders are also asked to raise authorized share capital from US$15,000 to US$60,000,000, creating 950 billion Class A and 50 billion Class B authorized shares (190 billion and 10 billion after the consolidation), an authorization level that signals substantial potential future issuance. The company's five secured convertible debentures with approximately $14.5 million aggregate original principal include post-consolidation conversion-price reset provisions, adding to dilution risk.
Bit Origin Highlights AI Infrastructure Opportunity and NVIDIA Blackwell B300 Strategy
Bit Origin confirmed that its initial deployment of 16 NVIDIA Blackwell B300 AI servers remains on schedule for delivery and deployment in Malaysia during the third quarter of 2026. The company has entered into a five-year management agreement with a third-party partner to handle deployment and commercialization, citing contracted customer demand for the units. While highlighting IDC projections estimating global AI infrastructure spending will reach $497 billion in 2026, Bit Origin acknowledged its limited operating history and reliance on external partners as execution risks.
Bit Origin Outlined Strategic Priorities and Proposed Corporate Rebranding for Its Next Phase of Growth
Bit Origin proposed changing its corporate name to SANGRIX INC to reflect its strategic shift toward AI computing and digital infrastructure. The company is focused on advancing the delivery of 16 NVIDIA Blackwell B300 AI servers, expected in the third quarter of 2026 for deployment in Malaysia. Fiscal 2027 priorities include executing this deployment to establish an initial recurring revenue base and selectively expanding into GPU computing and storage services.
Bit Origin Ltd is asking shareholders to approve a change of the company's name to Sangrix Inc. as part of a global marketing and expansion plan. The board believes the new name better aligns with the company's future business strategies. To maintain compliance with Nasdaq's minimum bid price rule of $1.00, the company is seeking authorization to implement a reverse stock split with a maximum ratio of 4000:1. This authorization would allow the board to effect the consolidation at its discretion over the next two years to avoid delisting. The company is also proposing a massive increase in its authorized share capital from 237.5 million Class A shares and 12.5 million Class B shares to 950 billion Class A shares and 50 billion Class B shares. This significant expansion in authorized shares creates the potential for substantial future dilution.
BTOG: 6-K · leadership change
Bit Origin Ltd announced the resignation of two directors, Ms. Mei Yeung and Mr. Siyuan Zhuang, effective July 10, 2026. The company confirmed that neither resignation was the result of any disagreement with the company’s operations, policies, or procedures. The Board of Directors simultaneously appointed Ms. Mei Ting Yeung and Mr. Wei Li as new directors to fill the vacancies effective immediately. Ms. Yeung was also appointed as the Chair of the Audit Committee and is the sister of the outgoing director, Ms. Mei Yeung. The company determined that both new directors are independent under Nasdaq rules, with Ms. Yeung qualifying as an audit committee financial expert. Their annual compensation will be $24,000 and $10,000, respectively, payable quarterly.
Bit Origin Provides Corporate Update on AI Strategy Execution and Governance Initiatives
Bit Origin provided a general corporate update regarding its AI infrastructure strategy and governance initiatives. The company stated it is coordinating the delivery of acquired AI computing equipment and working with data center partners on deployment. Management also noted preparations for the fiscal year 2026 annual audit and an evaluation of opportunities to strengthen the Board and executive leadership.
Bit Origin Announces Balance Sheet Strengthening Following Strategic AI Infrastructure Acquisition
Bit Origin acquired sixteen NVIDIA Blackwell B300 AI servers for a total consideration of $11.0 million, consisting of $1.0 million in cash and $10.0 million in equity. Management projects that this transaction will increase stockholders' equity to at least $2.5 million, thereby satisfying the minimum equity requirement under Nasdaq Listing Rule 5550(b)(1). The acquired servers are expected to be delivered in the third quarter of 2026 to support the company's planned AI computing infrastructure operations.
BTOG: 6-K · periodic report
Bit Origin Ltd reported zero revenue and a net loss of approximately $8.6 million for the six months ended December 31, 2025, bringing its accumulated deficit to $106.6 million with negative shareholders' equity of $1.8 million. The filing explicitly raises substantial doubt about the company's ability to continue as a going concern, with only $484,970 in cash as of December 31, 2025, though management believes recent financing arrangements including a $400 million equity purchase facility have alleviated these concerns. The company has pivoted from ceased Bitcoin mining operations to a Dogecoin treasury strategy holding 70.5 million Dogecoin valued at $8.3 million, and is now expanding into AI computing infrastructure with an approximately $11 million NVIDIA Blackwell B300 server purchase. A 1-for-60 reverse stock split was effected on January 20, 2026 to maintain Nasdaq listing compliance, and the company has arranged over $26 million in new convertible note financing in subsequent periods.
BTOG: 6-K · debt financing
Bit Origin Ltd entered into a securities purchase agreement to sell up to $10,000,000 in Senior Convertible Notes, with an initial closing of $2,000,000. The notes mature on June 29, 2030, and are convertible into Class A ordinary shares at a price of $1.63 per share. The purchase price is set at approximately $930 for every $1,000 of principal amount. The transaction includes a limited waiver from an existing holder regarding defaults under prior securities purchase agreements from 2025 and 2026. The notes contain negative covenants prohibiting the incurrence of indebtedness, liens, and cash dividends. The company expects to use the net proceeds for working capital and general corporate purposes. The agreement also stipulates that the company must reimburse the buyer's legal counsel, Kelley Drye & Warren LLP, for transaction expenses. The notes are being offered in a private placement relying on exemptions from registration under the Securities Act of 1933.
Bit Origin Acquires NVIDIA Blackwell B300 AI Infrastructure with Contracted Customer Deployment in Malaysia
Bit Origin acquired 16 NVIDIA Blackwell B300 AI servers for $11 million, marking its first entry into AI infrastructure assets. The deal includes contracted customer deployment in Malaysia, with servers expected to generate $360,000 in monthly revenue upon Q3 2026 delivery. The purchase price consists of $1 million in cash and $10 million in pre-funded warrants, signaling a dilutive financing structure for the expansion.
Bit Origin Ltd entered into a debt settlement agreement with CEO Jinghai Jiang to resolve $100,000 in unpaid compensation for fiscal years 2025 and 2026. Instead of paying cash, the company will issue 56,180 Class B ordinary shares to the CEO, valued at $1.78 per share based on the prior day's closing price of Class A shares. The issuance of Class B shares is significant as they typically carry superior voting rights compared to Class A shares, thereby increasing the CEO's control over the company. This transaction highlights the company's inability to pay executive compensation in cash, suggesting liquidity constraints, while simultaneously diluting existing shareholders and concentrating governance power.
