Bit Origin provides operation updates, future miner deployment schedule

Bit Origin (NASDAQ:BTOG) said it completed installations of its first batch of miners, mined its first bitcoin and started critical developments of its mining sites as part of the crypto mining company's operation updates and future miner deployment schedule.Bit Origin, formerly known as China Xiangtai Food, said total mining hash rate reached 176 PH/s as of Jul. 19. It had started bitcoin mining in Georgia and Indiana in May and June, respectively. The details will be disclosed in the audited financial result, expected to be released in August.The company's proposed acquisition of 30.62% equity interest in Horizon Mining, which is likely to increase the company's cryptocurrency mining capacity by 9.49 megawatts, is expected to complete in Q3.Also, the company said it has completed the deployment of the 1,000 miners in accordance with a Jun. 8 hosting service agreement, and is expected to deploy 700 mining spots by the third week of July in accordance with a Jul. 11 agreement.In accordance with a Jun. 15 definitive agreement entered into with a private cryptocurrency mining investment fund, the investment by the fund in a mining site has commenced, and is expected to complete in December.Additionally, the company also provided updates on the other agreements that it signed.BTOG shares were trading +3.19% pre-market.Source: Press Release