Key Takeaways
- BitVentures has formally launched its Digital Belongings section and entered the crypto mining trade.
- In constructing its new section, the corporate has acquired a number of fleets of Bitmain mining machines.
BitVentures, a Nasdaq-listed tech firm, at present introduced the official launch of its Digital Belongings section, a unit targeted on crypto mining and digital asset operations, together with staking, node providers, and ecosystem partnerships.
As a part of the enlargement, the corporate has entered into buy and internet hosting agreements to amass a number of fleets of Bitmain mining machines with roughly 0.5 MW of energy capability.
Deployment will start in phases from January 2026, with full operations anticipated within the first quarter, the corporate said.
BitVentures stated it plans to pursue a diversified mining technique concentrating on Bitcoin and choose altcoins, utilizing energy-efficient, high-specification machines to take care of resilience underneath risky market situations.
Lawrence Wai Lok, CEO of BitVentures, described the launch as a proof-of-concept deployment and stated the corporate intends to scale operations in phases, laying the muse for future enlargement into different providers.
Shares of BitVentures (BVC) climbed 8% intraday on Friday, per Yahoo Finance.
BitVentures, previously often known as Hywin Holdings and later Santech Holdings Restricted, beforehand operated a China-based wealth supervisor, Hywin Wealth, by a variable curiosity entity construction. Hywin Wealth was as soon as China’s main unbiased wealth supervisor and a significant distributor of real-estate-backed funding merchandise.
In June 2024, the corporate terminated its VIE association with Hywin Wealth, absolutely exiting its wealth and asset administration companies.
