Bit Origin Ltd (NASDAQ:BTOG) saw its shares soar 70% on Thursday after announcing it had secured strategic financing to explore expansion into artificial intelligence infrastructure, including computing, storage, and cooling solutions.
The blockchain-focused company said it plans to use the funding to assess and potentially develop opportunities in leasing, operating, and optimizing AI computing capacity. This includes GPU-based systems and supporting server infrastructure.
Bit Origin added that it aims to pursue this strategy with a capital-efficient approach, drawing on its existing resources and industry connections. The company has already been involved in early-stage collaborations within computing ecosystems since 2024, including participation in the Aethir ecosystem.
According to the company, its background in Bitcoin mining has provided experience in deploying infrastructure and sourcing equipment, which could support its evaluation of AI-related opportunities.
“This strategic financing represents a step in our efforts to evaluate opportunities in the rapidly evolving AI infrastructure sector,” said Jinghai Jiang, Chairman, Chief Executive Officer, and Chief Operating Officer of Bit Origin.
The company cautioned that moving forward with any initiatives will depend on securing further funding, finalizing commercial agreements, accessing skilled personnel and partners, and evaluating market conditions. It emphasized there is no guarantee that it will complete deals or successfully execute these plans.
Bit Origin also pointed to rising global demand for computing power and data center services, driven by artificial intelligence and data-intensive applications, as a key growth opportunity.