Bit Origin leases 1K mining spots

Bit Origin Limited, a company working in the crypto mining industry with diversified expansion strategies, has entered a LOI (Letter of Intent) with US-based data center operator Your Choice 4 CA to lease 1,000 mining spots, Invezz learned from a press release.   

Your Choice 4 CA, Inc. is managed by 1024 Capital LLC. The new spots will have mining power of 3 megawatts and will be located in the town of Marion, Indiana.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Increasing productivity of up to 13 BTC per month

Under the lease agreement, the company anticipates to raise productivity of around 12.66 BTC per month after deploying all miners in the middle of this month according to schedule.

As per the Letter of Intent, Your Choice will give Bit Origin 1,000 hosting spots, making around 100 PH/s available at full capacity. Bit Origin will conclude the final agreement in the coming days. They will disclose any data required via SEC filings or press releases, as needed, in the course of the transaction.

Tony Lin, Managing Director of 1024 Capital, commented:

We are very happy to be chosen by Bit Origin as a prospective hosting service provider. We expect that the cooperation will be a start of our long-term and mutually beneficial relationship.

Lucas Wang, Bit Origin Limited Chairman and CEO, added:

Leveraging our extensive mining resources worldwide and this partner’s deep expertise in data center operation, we expect to further explore cooperation opportunities with 1024 Capital in the future and look forward to establishing a miner alliance in North America.

About Bit Origin Limited

Previously known as China Xiangtai Food Co., Ltd. Bit Origin is an emerging growth company in the crypto mining industry, which operates in the US.

About 1024 Capital LLC

1024 Capital LLC manages Your Choice 4 CA. They are a US based integrated service provider working in mining site construction, energy development, operation, and maintenance. The company was established by an experienced duo: a venture capitalist and a seasoned crypto mining operator.