China Xiangtai stock gains premarket on deal for 6.1 MW crypto mining capacity

China Xiangtai Food (NASDAQ:BTOG) stock rose 4.8% premarket on Thursday after the firm inked a hosting deal with Horizon Mining to secure cryptocurrency mining capacity of up to 6.1 MW. Horizon Mining is an operator of a crypto mining site in Georgia Center for Innovation & Manufacturing in Macon City, Georgia, U.S. BTOG also said its first batch of 868 miners will be deployed in Georgia on Thursday. The next batch of 560 miners will be deployed in the second week of May. "Running at full capacity, the total of 1,428 miners are expected to mine 0.56 BTC per day or generate daily revenue of ~$22K," BTOG said in a statement. BTOG projects revenue of ~$5M from these miners in 2022.