China Xiangtai Food Co. Ltd. (new name Bit Origin Limited pending name registration) announced that it has entered into a hosting agreement with Horizon Mining Ltd. on May 1, 2022, to secure its cryptocurrency mining capacity of up to 6.1 megawatt ("MW"). In addition, the Company also announced that its first batch of 868 miners will be deployed in Georgia, U.S. on May 5, 2022.

The site is located in Georgia Center for Innovation & Manufacturing in Macon City, Georgia. The Company expects to have its final inspection and power-up on the site today. The first batch of 868 miners will be deployed simultaneously and expected to operate and mine Bitcoin once finished all required work.

The hosting team will prepare for initiating the mining operations by setting up the miners and performing the final testing. In addition, the next batch of 560 miners will be deployed in the second week of May 2022.