Bit Origin Ltd Secures $6.74 Million Investment to Build a New Crypto Mining Data Center in the U.S.
Summary
The new cypto mining center foresees substantial revenue and cash flow generation for Bit Origin, starting in the latter half of 2024.NEW YORK, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) ("Bit Origin" or the "Company"), an emerging growth company engaged in the crypto mining business with diversified expansion strategies, today announces it has entered into a securities purchase agreement to sell up to $24.74 million of convertible notes (Notes) and warrants to U.S. based institutional investor ATW Digital Asset Opportunities LLC (ATW). Upon completion, the project can host around 4,480 to 8,400 bitcoin miners depending on the types of the miners.Bit Origin Ltd, formerly known as China Xiangtai Food Co., Ltd., is an emerging growth company operating in the United States and engaged in the cryptocurrency mining business. For more information, please visit https://bitorigin.io.ATW Partners is a New York-based hybrid venture capital/private equity firm that focuses on investing in high quality companies at various stages. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law.