SHENZHEN, China, July 3, 2024
/PRNewswire/ -- BTC Digital Ltd. ("BTC Digital" or the "Company")
today announced the signing of a significant acquisition agreement,
marking the successful purchase of an Arkansas-registered company. This acquisition
includes a Bitcoin mining facility in Arkansas equipped with a 6MV long-term stable
power load, with the total consideration for the purchase amounting
to $1.99 million. With the completion
of this acquisition, BTC Digital will hold 100% ownership of the
acquired company.
This strategic move is set to substantially enhance BTC
Digital's core competitiveness in several key areas:
1. Reduction in Operational Costs: The acquisition will lower
the mining operational costs for the Company. As
Bitcoin mining difficulties continue to rise,
possessing increased computational power and lower costs will allow
the company to maintain a competitive edge in the fiercely
competitive market.
2. Long-Term Stable Energy Supply: Owning and operating a mining
facility ensures a stable, long-term energy supply. This stability
helps mitigate the risks associated with mining operations and
increases the company's ability to withstand industry and market
fluctuations, ensuring sustainable development of mining
operations.
3. Leading Mining Machine Hosting Services: The Company will
offer leading, customized end-to-end mining machine hosting
services to meet the growing demand for BTC mining. This initiative
will further solidify BTC Digital's leading position in the
cryptocurrency mining industry and contribute to the
industry's development.
The management team of BTC Digital stated that this acquisition
represents a critical step in the Company's strategic development
plan and a positive response to the future trends in the
cryptocurrency mining industry. The Company will
continue to seek appropriate expansion opportunities and commit to
providing efficient and reliable mining solutions, contributing
positively to the sustainable growth of the
cryptocurrency industry.
About BTC Digital Ltd.
BTC Digital Ltd.is a blockchain technology company, with a
long-term strategy to create value across the metaverse, blockchain
and cryptocurrency mining industry. The Company is
committed to developing blockchain related businesses in
North America, including
cryptocurrency mining, mining farm construction, and
mining pool and data center operation.
For more information, please visit:
https://meten.investorroom.com
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such
statements are based upon management's current expectations and
current market and operating conditions and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
the Company's control, which may cause the Company's actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Further information
regarding these and other risks, uncertainties or factors is
included in the Company's filings with the U.S. Securities and
Exchange Commission. The Company does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
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SOURCE BTC Digital Ltd.