Bit Origin Ltd (NASDAQ:BTOG) shares soared 32% to $1.66 in pre-market trading on Wednesday.
The Bitcoin (CRYPTO: BTC) mining and AI infrastructure company closed the regular session at $1.25, up 1.63%, according to Benzinga Pro data.
Nvidia Blackwell Deal Sparks Rally
The move followed Bit Origin’s Monday announcement of an approximately $11 million acquisition of sixteen NVIDIA (NASDAQ:NVDA) Blackwell B300 AI servers. The deal, funded through $1 million in cash and $10 million in equity via pre-funded warrants, marks Bit Origin’s first Blackwell-class transaction.
The servers, expected to arrive in the third quarter of 2026, will be deployed at a Malaysian data center under existing hosting and customer agreements, projected to generate roughly $360,000 in monthly recurring revenue before operating expenses.
Chairman and CEO Jinghai Jiang said, “This acquisition represents another important milestone in the execution of our AI infrastructure strategy.”
Trading Metrics, Technical Analysis
Bit Origin has a market capitalization of $2.01 million, with a 52-week high of $60 and a 52-week low of $1.13.
The Relative Strength Index (RSI) of BTOG stands at 65.25, while short interest is at 5.51%.
Over the past 12 months, the stock has dropped 86.63%.
Currently, BTOG is trading close to its annual low.
The stock’s steep decline and weak positioning suggest continued pressure, highlighting elevated risk and the need for stronger signs of recovery before investor confidence improves.
Benzinga’s Edge Stock Rankings indicate BTOG stock has a negative price trend across all time frames.
Photo courtesy: MMD Creative on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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