BTC Digital announced the acquisition of Quench Data LLC, which owns a Bitcoin mining facility in Arkansas, for $1.99 million on June 28, 2024. The purchase consideration includes $1.53 million in cash/USDT, $360,000 in company shares subject to a 6-month lock-up, and a $100,000 holdback payment. The facility features a 6MV long-term stable power load for BTC mining operations.The strategic acquisition aims to enhance BTC Digital's competitiveness through reduced operational costs and secured long-term energy supply. The company plans to offer customized end-to-end mining machine hosting services, strengthening its position in the cryptocurrency mining industry. The transaction is expected to close within 7 business days of the agreement, subject to certain conditions.The management views this acquisition as a crucial step in their strategic development plan, responding to future trends in the cryptocurrency mining industry. The company remains committed to seeking expansion opportunities and providing efficient mining solutions for sustainable industry growth.

BTC Digital announced the acquisition of Quench Data LLC, which owns a Bitcoin mining facility in Arkansas, for $1.99 million on June 28, 2024. The purchase consideration includes $1.53 million in cash/USDT, $360,000 in company shares subject to a 6-month lock-up, and a $100,000 holdback payment. The facility features a 6MV long-term stable power load for BTC mining operations.The strategic acquisition aims to enhance BTC Digital's competitiveness through reduced operational costs and secured long-term energy supply. The company plans to offer customized end-to-end mining machine hosting services, strengthening its position in the cryptocurrency mining industry. The transaction is expected to close within 7 business days of the agreement, subject to certain conditions.The management views this acquisition as a crucial step in their strategic development plan, responding to future trends in the cryptocurrency mining industry. The company remains committed to seeking expansion opportunities and providing efficient mining solutions for sustainable industry growth.