Bit Origin Limited Secures Exciting New Funding and Unveils Thrilling Business Roadmap

"Tech Company Raises $4 Million in Funding to Drive Innovation and Business Upgrades"

Irish Tech Company Announces Acceleration of Data Center Project in Wyoming

Dublin, Ireland – In a recent statement, Mr. Lucas Wang, Chairman and Chief Executive Officer of an Irish tech company, expressed gratitude for the success of their recent financing rounds. With a total gross proceeds of close to $4 million, the company is now focused on investing in innovation and upgrading their core businesses. Mr. Wang also revealed their plans to accelerate the development of a 25 MW data center project in Wyoming, which marks a significant milestone for the company’s growth.

The company successfully entered into two securities purchase agreements on November 7 and November 9, 2023, respectively. These agreements allowed them to sell ordinary shares through private placement financing, resulting in estimated gross proceeds of approximately $3,994,222. This injection of funds will further support the company’s expansion plans and commitment to technological advancements.

Since September 2023, the company has been operating from a 45 MW mining data center in Wyoming, where they also hold an investment. This move has allowed them to establish strong relationships with local business partners and gain valuable insights into the region’s favorable conditions for crypto mining.

Building on their success and positive experiences in Wyoming, the company has decided to expand their presence in the state by leading the construction and operation of a 25 MW mining data center facility. With an abundance of stable electricity supply and weather conditions conducive to crypto mining, Wyoming presents an ideal location for this venture.

The company has already taken several crucial steps towards the realization of this project. They have secured an intent to lease agreement for the land, which covers an initial period of 5 years with an option to extend. Additionally, the company has finalized the budget, project plans, and design drawings, putting them on track to commence the build-out in mid-December 2023. The expected completion date is early Q2 2024.

Once finished, the data center will have the capacity to host approximately 4,480 to 8,400 bitcoin miners, depending on the types of miners utilized. This will significantly increase the company’s mining capabilities and solidify their position as a key player in the crypto mining industry.

The announcement of this accelerated data center project highlights the company’s commitment to growth and innovation. By investing in state-of-the-art infrastructure and expanding their operations, they aim to stay at the forefront of technological advancements in the crypto mining sector. With the continued support of investors and the advantageous conditions in Wyoming, the company is well-positioned to achieve its goals and contribute to the development of this rapidly evolving industry.

Martin Reid

Martin Reid

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