Alset EHome International Inc. Launches Alset Mining Inc. to Embark on Cryptocurrency Mining Activities

Rhea-AI Summary

Alset EHome International (NASDAQ:AEI) has announced plans to launch a cryptocurrency mining venture via its wholly-owned subsidiary, Alset Mining. This initiative aims to capitalize on the booming cryptocurrency mining market, projected to reach USD 5.29 billion by 2028, with a CAGR of 28.5%. Alset Mining will focus on acquiring mining rigs and sourcing renewable energy for operations, aligning with the company’s sustainability goals. The move is expected to create a consistent revenue stream as the cryptocurrency sector evolves.

Positive

• Plans to enter the cryptocurrency mining market through Alset Mining.
• Potential for revenue generation given the cryptocurrency mining market is expected to reach USD 5.29 billion by 2028.
• Focus on sustainable energy sources aligns with the company's mission of sustainable living.

Negative

• None.

BETHESDA, MD / ACCESSWIRE / March 22, 2022 / Alset EHome International Inc. (NASDAQ:AEI) ("AEI" the "Group" or "Company"), a diversified holding company principally engaged through its subsidiaries in the development of smart and sustainable home communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, is pleased to announce that the Company plans to embark on a cryptocurrency mining business through Alset Mining Inc. ("Alset Mining"), a wholly-owned subsidiary of the Company.

Alset Mining will primarily be engaged in investment within the cryptocurrency mining industry. Cryptocurrency mining refers to the process that verifies and adds new transactions to the blockchain by solving complex mathematical equations for a cryptocurrency. The miner that solves the complex mathematical equations first is rewarded with the respective cryptocurrency. The cryptocurrency mining industry consist of stakeholders such as hardware and software manufacturers, hosting and mining service providers (akin to data centers), as well as corporate and private miners.

In the year ahead, Alset Mining will endeavor to take advantage of the potential of the cryptocurrency mining space by acquiring mining rigs to create a consistent stream of revenue. Alset Mining will also search for low cost sustainable sources of energy such as wind, solar or hydroelectricity for its cryptocurrency mining operations to align its sustainability efforts with the Company's mission of sustainable healthy living.

"As the cryptocurrency mining market is expected to reach USD5.29 billion by 2028 with a CAGR of 28.5%¹, this represents a huge upside within this emerging technology space that is rapidly changing every day. We believe that the cryptocurrency mining opportunities in the market remain profitable. We will take prudent and measured steps as the industry evolves." commented Mr. Chan Tung Moe, Co-Chief Executive Officer of the Company.

About Alset Mining Inc.

Alset Mining will primarily be engaged in investment within the cryptocurrency mining industry. Alset Mining will endeavor to take advantage of the potential of the cryptocurrency mining space by acquiring mining rigs to create a consistent stream of revenue.

About Alset EHome International Inc.

AEI is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, AEI's mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders.

For more information, please visit: www.alsetehomeintl.com.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

Alset EHome International Inc.
4800 Montgomery Lane, Suite 210
Bethesda, MD 20814
Email: contact@alsetehomeintl.com

¹https://brandessenceresearch.com/cryptocurrency/cryptocurrency-mining-market

SOURCE: Alset EHome International Inc.

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FAQ

What is Alset EHome International's new business initiative?

Alset EHome International is launching a cryptocurrency mining business through its subsidiary, Alset Mining.

What is the market potential for cryptocurrency mining?

The cryptocurrency mining market is projected to reach USD 5.29 billion by 2028.

How will Alset Mining ensure sustainability?

Alset Mining plans to utilize low-cost sustainable energy sources such as wind, solar, or hydroelectricity for its operations.

What is the expected growth rate for the cryptocurrency mining industry?

The cryptocurrency mining industry is expected to grow at a CAGR of 28.5%.

What are Alset EHome International's main business focuses?

The company focuses on smart home communities, financial services, digital transformation, biohealth, and consumer products.