Bit Origin Ltd Secures $6.74 Million Investment to Build a New Crypto Mining Data Center in the U.S.

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”). The initial commitment of $6.74 million (prior to fees and offering expenses) will fund the construction of a brand-new 25MW cryptocurrency mining data center, named as Auspice (referred to as “the Project” or “Project Auspice”). This facility is situated in Cheyenne, Wyoming, USA. Management anticipates that the project will commence producing substantial revenue and cash flow for the company starting in the second half of 2024.

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