China Xiangtai Food Co. Halts Bitcoin Mining

China Xiangtai Food Co (BTOG) has released an update.

China Xiangtai Food Co., previously engaged in Bitcoin mining, has ceased its operations due to high costs and is now seeking new mining facilities in the U.S. The company, which underwent a reverse share split and holds various subsidiaries, reported a six-month revenue of approximately $2.9 million from mining activities, but faces a $6.8 million operational loss due to significant impairment losses on mining equipment.

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