New York, June 02, 2022 (GLOBE NEWSWIRE) — Bit Origin Restricted (NASDAQ: BTOG) (“Bit Origin” or the “Firm”), an rising progress firm engaged in crypto mining enterprise with diversified growth methods, immediately introduced that the Firm has entered right into a Letter of Intent (“LOI”) with sure firm to buy 850 Antminer S19j Professional (100 TH/s) Bitcoin Miners, that are anticipated to ramp up the hash price of the Firm’s miner fleet by over 85,000 TH/s. The anticipated buy of miners will improve the Firm’s complete Bitcoin miners to five,228 items, producing roughly 501.2 PH/s when all miners are working at full capability, and it’s anticipated to supply 63.45 BTCs per 30 days when all miners are deployed.
Pursuant to the LOI, the Firm agrees to buy 850 Antminer S19j professional (100 TH/s) Bitcoin Miners in an mixture worth of $6,375,000. The Firm expects to enter right into a definitive settlement and expects the transaction to be accomplished within the coming weeks, topic to the customary circumstances, and the miners are anticipated to be delivered to the Firm’s U.S. mining facility upon assigning of the definitive settlement. Because the transaction proceeds, the Firm will publicly disclose required info both via press releases or SEC filings, as applicable.
Mr. Lucas Wang, Chairman and Chief Government Officer of the Firm, commented, “We’re more than happy to suggest one other asset buy following the earlier proposed buy introduced on June 1, 2022, and to proceed working towards our strategic method to accumulating miner belongings. As we maintain accumulating extra miner belongings and staying forward of innovation, we’re eyeing to change into a number one bitcoin mining firm.”
About Bit Origin Restricted
Bit Origin Restricted, previously referred to as China Xiangtai Meals Co., Ltd., is an rising progress firm working in the USA and engaged in crypto mining enterprise. The Firm can be actively deploying blockchain applied sciences, alongside diversified growth methods. For extra info, please go to https://bitorigin.io.
Protected Harbor Assertion
This announcement comprises forward-looking statements inside the which means of the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995. All statements aside from statements of historic truth on this announcement are forward-looking statements. These forward-looking statements contain recognized and unknown dangers and uncertainties and are based mostly on present expectations and projections about future occasions and monetary developments that the Firm believes might have an effect on its monetary situation, outcomes of operations, enterprise technique, and monetary wants. Buyers can establish these forward-looking statements by phrases or phrases akin to “might,” “will,” “count on,” “anticipate,” “intention,” “estimate,” “intend,” “plan,” “imagine,” “potential,” “proceed,” “is/are prone to” or different related expressions. The Firm undertakes no obligation to replace forward-looking statements to replicate subsequent occurring occasions or circumstances or adjustments in its expectations, besides as could also be required by regulation. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, it can not guarantee you that such expectations will transform appropriate, and the Firm cautions traders that precise outcomes might differ materially from the anticipated outcomes.
Firm Contact
Bit Origin Restricted
Erick W. Rengifo
Telephone: +1-347-556-4747
E mail: ir@bitorigin.io
Investor Relations Contact
Ms. Tina Xiao, President
Ascent Investor Relations LLC
Telephone: +1-917-609-0333
E mail: tina.xiao@ascent-ir.com
