Bit Origin's shares jump as mining surges 165% M/M in August

Bit Origin (NASDAQ:BTOG) posted a mining hash rate of 308 PH/s with 3,190 miners installed at the end of August, up 196% and 205% sequentially.The company mined 21.95 Bitcoins in August, representing a revenue of US$490,749, an increase of 165% and 167%, respectively, from the previous month.The company said it has mined 15.46 Bitcoins, representing a total revenue of US$375,915 for the three months from May to July 2022.Lucas Wang, Chairman and CEO at Bit Origin, noted: "We expect to see a significant increase in our capacity once the purchase of 622 Antminer S19j Pro Bitcoin miners are deployed."Bit Origin started bitcoin mining in sites in Georgia and Indiana in May and June 2022, respectively. The instalment of 622 miners in Georgia drove a 24% and 25% increase in the number of miners installed and the hash rate from July 2022.Shares have jumped +8.22% so far in trading today.