Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Chinese company acquires, Forex-News, Forex-News
Ethereum Classic

Chinese company acquires

, Chinese company acquires, Forex-News, Forex-News

, Chinese company acquires, Forex-News, Forex-News

According to a statement, the Chinese company announced the purchase of Certainly one of the largest cryptocurrency mining pool in the world.

In particular, the transaction was handled by Limited, an online sports lottery company. And, it was carried out as part of a stock exchange agreement with Blockchain Alliance Technologies Holding Company, a company based in the Cayman Islands.

Said agreement contemplates executing the transfer of the entire mining operation from to According to the announcement, the first transaction under the stock swap agreement is expected to occur on or before April 15, 2021.

As part of the deal, Chinese company will acquire the entire mining pool business from Bitdeer Technologies Holding Company. Including the domain name and a cryptocurrency wallet.

It should be noted that both the domain name and the wallet operate under But, they belong to Bitdeer, which is the parent company of the Blockchain Alliance.

For their part, and the Blockchain Alliance have also entered into certain agreements related to net operating earnings. If records a net operating profit in the fiscal year ending December 2021, will have to issue additional shares to the Blockchain Alliance.

For example, assuming the minimum amount of net operating profit is $ 20 million, a maximum of 22 million additional Class A common shares can be issued.

Conversely, if the mining pool business records a net operating loss during the same period, will be entitled to repurchase certain Class A common shares held by the Blockchain Alliance.

First of all, BTC (Bitdeer Technologies Company), is one of the most important mining pools. It was established in 2016, it has a mining service for various cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

In fact, its users can explore information with statistics on Blockchain in real time. Also, to manage your mining business on the same website.

Additionally, its biggest beneficiary is Jihan Wu, who recently stepped down as CEO and president of Bitmain. After a long dispute with a co-founder.

«The disagreement between Micree Zhan and myself was finally resolved amicably. And most importantly, constructively».

The company

Next, is a company listed on the NYSE (WBAI). It offers a variety of online lottery services.

By the way, the company has recently been moving into the cryptocurrency industry. In early February, bought 5,900 Bitcoin mining devices for $ 8.5 million.

By way of closing, with the participation of more companies like in the Bitcoin mining industry, China could reaffirm its global leadership in this market.

I say goodbye with this phrase from Henry Kissinger: «The leader’s task is to take people from where they are to where they haven’t been».

, Chinese company acquires, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Chinese company acquires, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More