Derlin Holdings Announces Bitcoin Mining Equipment Acquisition Agreement

According to PANews, Derlin Holdings (01709.HK) has announced an agreement with Evergreen Wealth to acquire Bitcoin mining machines. The company has conditionally agreed to purchase 2,200 S21XP HYD Bitcoin miners for a total price of $21.85 million. The payment will be made through the issuance of convertible bonds worth $21.85 million, 40 million warrants, and 13.4425 million profit shares upon meeting certain profit conditions. Additionally, Derlin Holdings has signed legally binding letters of intent with BM1 and BM2 to acquire an additional 1,900 S21e Hyd. and 1,095 S21e XP Hyd. mining machines. The total consideration for these transactions is $8.349 million and $10.8766 million, respectively. These transactions are subject to approval by a special shareholders' meeting and the Hong Kong Stock Exchange.