SHENZHEN, China, March 12,
2024 /PRNewswire/ -- BTC Digital Ltd. (" BTC
Digital" or the "Company") (NASDAQ: BTCT), a blockchain technology
company, today announced that it has entered into a definitive
agreement under which the Company will acquire a BTC mining
facility located in North
Carolina, equipped with a stable power load of 10 megavolts
(MV). The total consideration for BTC Digital's acquisition amounts
to $3.4 million.
This strategic acquisition is poised to enhance BTCT's core
competencies in several key ways:
Effective Cost Reduction: The acquisition is expected to
significantly lower the operational costs of the mining activities.
As the difficulty of Bitcoin mining continues to rise,
possessing greater computational power at lower costs will enable
the Company to maintain a competitive advantage in the fiercely
competitive market.
Long-Term Stable Energy Supply: Owning and operating a mining
facility with a long-term horizon implies a sustained energy
supply. A stable energy supply will contribute to reducing
operational risks in mining, enhancing the Company's ability to
withstand industry and market fluctuations, and ensuring long-term
sustainable business development.
Leading Mining Rig Hosting Services: BTC Digital will offer
cutting-edge, tailor-made end-to-end hosting services for mining
rigs to meet the growing demand for BTC mining. This move will
further solidify the company's leading position in the digital
currency mining industry, contributing to the overall advancement
of the sector.
The management team of the Company has emphasized that this
acquisition is a crucial step in the strategic development plan of
the Company and a proactive response to the future trends in the
digital currency mining industry. BTC Digital remains committed to
seeking suitable expansion opportunities and providing efficient,
reliable mining solutions for its clients, making a positive
contribution to the healthy development of the digital currency
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.
