Business
Bit Origin Ltd Provides Updates on Collaborations with Aethir
NEW YORK, June 26, 2024 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) ("Bit Origin" or the "Company"), an emerging growth company engaged in the crypto
About this update from Bit Origin Limited
[{"type":"text","content":"NEW YORK, June 26, 2024 (GLOBE NEWSWIRE) -- Bit Origin Ltd (NASDAQ: BTOG) (\"Bit Origin\" or the \"Company\"), an emerging growth company engaged in the crypto mining business with diversified expansion strategies, provides an update on its collaborations with Aethir, the premier enterprise-focused distributed graphics processing units (“GPU”) cloud provider. Advancing GPU Cloud Solutions Aethir, recognized for its groundbreaking decentralized GPU computing infrastructure, has secured nearly USD 150 million in funding according to cryptorank.io. Aethir offers a decentralized GPU cloud service that supports artificial intelligence (“AI”), gaming, and other data-intensive applications, leveraging Nvidia H100 GPUs. This infrastructure supports cloud gaming clients and boasts contracts with major gaming and telecom companies. On June 12 2024, Aethir completed the token generation event for its $ATH token, with a fully diluted valuation of $2.6 billion as of June 24 2024, according to coinmarketcap.com. As Aethir's decentralized GPU cloud infrastructure ecosystem grows, it aims to establish a new paradigm in GPU computing infrastructure, reshaping the cloud computing landscape. Strategic Industry Partnerships Recent collaborations include TensorOpera, which specializes in optimizing and scaling AI model training, to enhance large-scale AI Model training on a decentralized cloud. In addition, Aethir has partnered with Sophon, a platform with more than 3 million registered users that offers decentralized computing services tailored for the blockchain and AI communities. These partnerships aim to bolster Aethir's capabilities in the AI and crypto sectors. Bit Origin's Role and Deployment Plans Bit Origin, as Aethir's sales representative, aims to expand Aethir's market reach and has plans to acquire and deploy Aethir devices in Singapore and/or Malaysia. This strategic move is expected to enhance the Company’s service offerings and drive significant growth for both companies. \"We are excited to partner with Aethir, whose technology is truly transformative,\" said Jinghai Jiang, Chairman of the Board, CEO, and COO of Bit Origin Ltd. \"This collaboration will significantly enhance our offerings while driving substantial growth and value for both companies.\" Commitment to Innovation This strategic agreement underscores Bit Origin’s dedic...