X3 Holdings Has Signed A Term Sheet For Multi-Year Purchase Agreements With Supplier Of Bitcoin Mining Equipment To Purchase Avalon Bitcoin Miners In Tranches, Using Cash & Vendor Credits. Total 30,000 Bitcoin Miners Are Projected To Be Purchased By 2026
Portfolio Pulse from Benzinga Newsdesk
X3 Holdings has entered into a term sheet for multi-year purchase agreements with a supplier to buy 30,000 Avalon Bitcoin miners by 2026, using cash and vendor credits. This move signifies X3 Holdings' commitment to expanding its Bitcoin mining capabilities.
February 28, 2024 | 11:28 am
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X3 Holdings' agreement to purchase 30,000 Avalon Bitcoin miners by 2026 highlights a significant expansion in its Bitcoin mining operations, potentially increasing its operational capacity and revenue from mining activities.
The purchase of a large number of Bitcoin miners indicates a strategic expansion in X3 Holdings' mining operations. This could lead to increased mining capacity and potentially higher revenues from Bitcoin mining, assuming stable or increasing Bitcoin prices and mining difficulty. The use of cash and vendor credits for the purchase also suggests a financially strategic approach to expansion, minimizing immediate cash outflows.
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