Meten Acquires 200 Bitcoin Machines, Blockchain Tech Firm To Also Issue Shares

Blockchain tech company, Meten Holding Group Ltd (NASDAQ: METX) entered into an asset purchase agreement with two unaffiliated third parties to acquire 200 units of Antminer S19j Pro (110 TH/s) Bitcoin mining machines.

Meten also agreed to issue to the sellers ordinary shares of the company valued at $880,000.

The machines are expected to be delivered and put into operation by July 31, 2023.

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With the latest purchase, the company will have 1,954 units of Bitcoin mining machines with a computing power of more than 208PH/s.

“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,” said CEO Alan Peng.

Price Action: METX shares are trading up 1.59% at $0.22 at publication Friday.

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