Find more from the company presentation here.
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And right now, BTOG has multiple potential catalysts to absorb right now.
No. 1 BTOG Potential Catalyst - Signing Of LOI To Acquire Equity Interest In Horizon Mining Ltd
Bit Origin Limited Intends to In-vest in an Operator of a Cryp-tocurrency Mining Site in Macon, Georgia
The Company expects to obtain 9.49 megawatts cryp-tocurrency mining capacity with a hash rate of 316PH/s
New York, May 25, 2022 (GLOBE NEWSWIRE) -- Bit Origin Limited (NASDAQ: BTOG) (“Bit Origin” or the “Company”), an emerging growth company engaged in cryp-to mining business with diversified expansion strategies, today announced that the Company has entered into a Letter of Intent (“LOI”) to acquire 30.62% equity interest in Horizon Mining Ltd (“HML”), an operator of a cryp-to mining site located at Macon, Georgia to further facilitate Bit Origin’s strategic development process. The potential acquisition is expected to increase the Company’s cryp-tocurrency mining capacity by 9.49 megawatts (“MW”) with a hash rate of 316PH/s, which represents approximately 40 Bit-coins would be mined per month at full capacity.
Pursuant to the LOI, the Company agrees to acquire 30.62% of the equity interests of HML in exchange for consideration having an aggregate value of US$4.25Mn+. The Company expects to enter into a definitive agreement and expects the acquisition to be completed in the coming months, subject to the customary conditions. As the transaction proceeds, the Company will publicly disclose required information either through press releases or SEC filings, as appropriate.
Chief Executive Officer of Horizon Mining Ltd commented, “We are extremely excited about the potential opp. to collaborate with Bit Origin in our Georgia facility, as both parties share a vision for the future of Bit-coin mining in the United States. The resources Bit Origin brings, combined with our strength in mining operation, would allow us to achieve a shared growth potential.”
Mr. Lucas Wang, Chairman and Chief Executive Officer of the Company, commented, “The acquisition proposal of HML would be one of the most significant achievements in Bit Origin’s growth to date and a solid milestone to achieve the Company’s development goal of becoming a leading Bit-coin mining company once the transaction is completed. HML is our long last strategic partner in the United States, and such an in-vestment decision truly deepens our relationship for better collaborations in the future. The assets and sophisticated operation team acquired from HML will create financial and operational synergies and diversifies the Company’s risk and revenue model to become a cryp-to mining operator and hosting service provider. We are excited to enter the mining hosting sector to further enhance our competitive advantages in mining operation expertise while expanding our landscape in the US.”
Read the full article here.
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No. 2 BTOG Potential Catalyst - Company Announces Game-Changing Alliance With Horizon Mining Ltd
Bit Origin Ltd. Announces New Alliance to Secure 6.1 Megawatt Cryp-tocurrency Mining Capacity and Initial Deployment of 868 miners in Georgia, U.S.
New York, May 05, 2022 (GLOBE NEWSWIRE) -- China Xiangtai Food Co., Ltd. (NASDAQ: BTOG) ("China Xiangtai " or the "Company") (new name Bit Origin Limited pending name registration), an emerging growth company engaged in cryp-to mining business with a diversified expansion strategy, today announced that it has entered into a hosting agreement (the “Agreement”) with Horizon Mining Ltd (“Horizon”), an American operator of cryp-to mining site located in Georgia, U.S., on May 1, 2022, to secure its cryp-tocurrency mining capacity of up to 6.1 megawatt (“MW”). In addition, the Company also announced that its first batch of 868 miners will be deployed in Georgia, U.S. on May 5, 2022.
The site is located in Georgia Center for Innovation & Manufacturing in Macon City, Georgia. The Company expects to have its final inspection and power-up on the site today. The first batch of 868 miners will be deployed simultaneously and expected to operate and mine Bit-coin once finished all required work.
The hosting team will prepare for initiating the mining operations by setting up the miners and performing the final testing. In addition, the next batch of 560 miners will be deployed in the second week of May 2022. Running at full capacity, the total of 1,428 miners, representing a hash power of 132PH/s, are expected to mine 0.56 B-T-C per day or generate daily revenue of approximately US$22k... We expect to see revenue of approximately US$5Mn for 2022 from these miners only.
Mr. Lucas Wang, Chairman and Chief Executive Officer of the Company, commented, “We are excited to announce that the operation of cryp-tocurrency miners marks the new era of the Company and accelerates the Company’s expansion strategy in North America. We expect to deepen the collaboration with Horizon to expand further as we deploy more miners in the near future. We are confident that we will be able to grow significantly and deliver greater value to shareholders.”
Read the full article here.
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No. 3 BTOG Potential Catalyst - An Explosive Chart History
What else can I say?
Take a look at BTOG's 1-year chart:
