BTC Digital Ltd. Announces Purchase of 220 Units of Antminer S19j Pro Bitcoin Mining Machines

Rhea-AI Summary

BTC Digital Ltd. has entered into an asset purchase agreement to acquire 220 units of Antminer S19j Pro Bitcoin mining machines. The company has issued 276,572 ordinary shares valued at $968,800 to the sellers. The machines are expected to be delivered and put into operation by the end of November 2023. BTC Digital currently has 1,954 mining machines in operation and will have a total of 2,174 units with a computing power of more than 230PH/s once the new machines are operational. The company plans to continue expanding its cryptocurrency business through the purchase of more mining machines, aiming to improve its financial stability and long-term growth.

SHENZHEN, China, Nov. 3, 2023 /PRNewswire/ -- BTC Digital Ltd.("BTC Digital" or the "Company") (NASDAQ: BTCT), a blockchain technology company, today announced that it has entered into an asset purchase agreement with two unaffiliated third parties to acquire 220 units of Antminer S19j Pro (110 TH/s) Bitcoin mining machines, and has issued to the sellers 276,572 ordinary shares of the Company valued at $968,800. The machines are expected to be delivered and put into operation by the end of November 2023.

To date, the Company has put 1,954 mining machines into operation. The newly purchased 220 mining machines are expected to be delivered and put into operation in November, at which point the Company will have 2,174 units of Bitcoin mining machines with a computing power of more than 230PH/s.

The Company intends to continue developing its cryptocurrency business through purchasing more mining machines. The Company believes that operating a growing number of mining machines will help the Company with its financial stability and long-term growth.

Mr. Alan Peng, Chief Executive Officer of BTC Digital, commented: "We are excited to see the progress we have made so far and the potential for our cryptocurrency business to grow in the long term. With the recent purchases and our plan to further increase the number of mining machines, we aim to continue improving our financial conditions as well as maximizing value for our shareholders."

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.

View original content:https://www.prnewswire.com/news-releases/btc-digital-ltd-announces-purchase-of-220-units-of-antminer-s19j-pro-bitcoin-mining-machines-301976867.html

SOURCE BTC Digital Ltd.

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is BTC Digital Ltd.

What is BTC Digital acquiring in the asset purchase agreement?

BTC Digital is acquiring 220 units of Antminer S19j Pro Bitcoin mining machines.

How many mining machines does BTC Digital currently have in operation?

BTC Digital currently has 1,954 mining machines in operation.

When are the newly purchased mining machines expected to be delivered and put into operation?

The newly purchased mining machines are expected to be delivered and put into operation by the end of November 2023.

What will be the total number of mining machines owned by BTC Digital once the new machines are operational?

Once the new machines are operational, BTC Digital will have a total of 2,174 units of Bitcoin mining machines.

What is the computing power of the new mining machines?

The new mining machines have a computing power of more than 230PH/s.

What is the CEO's comment regarding the recent purchases?

The CEO, Mr. Alan Peng, commented that the company aims to improve its financial conditions and maximize value for shareholders through the recent purchases and plans to increase the number of mining machines.