Bit Origin to lease 1,000 mining spots with 3MW of mining power

Jun. 06, 2022 9:38 AM ETBit Origin Limited (BTOG)By: Urvi Shah, SA News Editor
  • Bit Origin (NASDAQ:BTOG) enters into a letter of intent (“LOI”) with Your Choice, a U.S. based data center operator managed by 1024 Capital LLC, to lease 1,000 mining spots with three megawatts of mining power in Marion, Indiana.
  • The potential lease agreement is expected to increase productivity of approximately 12.66 BTCs per month for the company when all miners are deployed in mid-June 2022 as scheduled.
  • Per LOI, Your Choice agrees to provide Bit Origin with 1,000 hosting spots, providing approximately 100 PH/s at full capacity.
  • The company expects to enter into a definitive agreement in the coming days.

  • “1024 Capital is an industry leader in data center operation, and we are excited to expand our Bitcoin mining capacity with this strategic partner. The LOI marks the first step of our cooperation. Leveraging their deep expertise in data center operation and our extensive mining resources worldwide, we expect to further explore cooperation opportunities with 1024 Capital in the future and look forward to establishing a miner alliance in North America.” said Chairman and CEO Mr. Lucas Wang

  • Press release