Meten Acquires 200 Bitcoin Machines, Blockchain Tech Firm To Also Issue Shares
Portfolio Pulse from Shivani Kumaresan
Blockchain tech company, Meten Holding Group Ltd (NASDAQ:METX) has entered into an asset purchase agreement to acquire 200 units of Bitcoin mining machines. The company also agreed to issue ordinary shares valued at $880,000 to the sellers. The machines are expected to be operational by July 31, 2023. With this purchase, the company will have 1,954 units of Bitcoin mining machines with a computing power of more than 208PH/s.
July 14, 2023 | 3:13 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Meten's acquisition of 200 Bitcoin mining machines and issuance of shares valued at $880,000 could potentially increase the company's Bitcoin mining capacity and shareholder value.
The acquisition of additional Bitcoin mining machines will increase Meten's mining capacity, potentially leading to increased revenues from Bitcoin mining. The issuance of shares to the sellers could dilute existing shareholders, but it also indicates the company's confidence in its future prospects. Both these factors could have a positive impact on the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100