China Xiangtai Food Co., Ltd. To Purchase Two Bitcoin Miners For ~$13M

CHONGQING, China, Feb. 14, 2022 (GLOBE NEWSWIRE) -- China Xiangtai Food Co., Ltd. (NASDAQ:PLIN) ("China Xiangtai " or the "Company"), an emerging growth company engaged in the agricultural business with a diversified expansion strategy, announced today that the Company, through its U.S. subsidiary SonicHash LLC, has entered into sales and purchase agreements (the "Agreements") with two global Bitcoin mining hardware suppliers to purchase 2200 Bitcoin miners for approximately US$13 million. The Company's new miners have hash rates of 92 and 98 TH/s and are expected to ramp up the total hash rate of the Company's miner fleet by over 209 PH/s.