Bit Origin announces production, operation update for January to March

Bit Origin provided its production and operation update for January 2023 to March 2023. Operation Update: Since December 2022, the Company gradually moved out all of its crypto currency mining equipment from its mining facility in Georgia, and the Company redeployed its mining equipment in the Indiana mining facility. As of March 31, 2023, the total mining hash rate stands at 403 PH/s with 4,250 miners installed in the Indiana facility, representing all miners the Company has purchased. Bitcoin Production and Revenue: The Company mined 86.4 Bitcoins and achieved a revenue of US$1,975,202 in the first quarter of 2023. As of March 31, 2023, the Company has one hosting mining site in operation and one mining site under development. The Company ceased its operation in the mining facility in Georgia from December 31, 2022. Site One – Marion, IN, 5.3 Megawatts: On June 8 and July 11, 2022, the Company announced that it entered into two hosting service agreements to increase mining capacity by 3 MW and 2.3 MW, respectively. Based on mutual understanding and arrangements, the Company further expanded its capacity in the Indiana mining facility, and as of March 31, 2023, 4,250 miners at this site have been deployed. Site Two – Cheyenne, WY, 45MW: On June 15, 2022, the Company announced that it entered into a set of definitive agreements with a private cryptocurrency mining investment fund. As of March 31, 2023, Phase I of the Project of a capacity of up to 45MW for the mining facility in Wyoming is energized.