[ad_1]
SHENZHEN, China, Feb. 16, 2022 /PRNewswire/ — Meten Holding Group Ltd. (“Meten Holding Group” or the “Firm”) (NASDAQ: METX), one of many main omnichannel English language coaching (“ELT”) service suppliers in China, at the moment offered an replace on the Firm’s cryptocurrency enterprise.
To this point, the Firm has put 867 mining machines into operation, consisting of 147 mining machines bought in small batches and 720 mining machines bought from AGM Group Holdings Inc. (“AGMH”) (Nasdaq: AGMH). The remaining 615 mining machines bought from AGMH are anticipated to be deployed and put into operation by the top of this month. The Firm at the moment has a complete of 1482 models of Bitcoin mining machines with a computing energy of roughly 150PH/s.
As well as, the Firm has lately bought 600 XP mining machines from Bitmain Applied sciences Ltd. (“Bitmain”) with an mixture computing energy of roughly 100PH/s. These mining machines are anticipated to be delivered within the second half of this yr.
The Firm has made important progress with its cryptocurrency enterprise, which is without doubt one of the core companies of the Firm’s strategic transformation in 2022. The Firm intends to proceed to develop its cryptocurrency enterprise via buying extra mining machines. The Firm expects that sustaining and working these mining machines in a secure and sturdy means will assist the Firm with its monetary stability and long-term progress.
Mr. Alan Peng, Chief Government Officer of Meten Holding Group commented: “We’re excited to see the progress we have now made thus far and the potential for our cryptocurrency enterprise to develop in the long run. With the current purchases and the plan to additional enhance the variety of mining machines, we’re dedicated to the cryptocurrency enterprise and intention to proceed to enhance our monetary circumstances in addition to maximizing worth for our shareholders.”
About Meten Holding Group Ltd.
Meten Holding Group Ltd., previously often known as Meten EdtechX Schooling Group Ltd., is without doubt one of the main omnichannel ELT service suppliers in China, delivering English language and expertise coaching for Chinese language college students and professionals. Along with strengthening its place within the ELT service business in China, Meten additionally engages in blockchain and cryptocurrency mining enterprise outdoors China, with a long-term objective of making worth throughout the cryptocurrency business. Meten expects to interact in companies associated to blockchain and metaverse in North America and different nations and areas around the globe (not together with China), together with cryptocurrency mining, mining farm development, and mining pool and information middle operation.
For extra data, please go to: https://investor.metenedu-edtechx.com/.
Protected Harbor Assertion
This announcement comprises forward-looking statements that contain dangers and uncertainties. These statements are made below the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs and expectations, are forward-looking statements. Quite a lot of components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the longer term growth of and the Firm’s capacity to reach its new line of enterprise in cryptocurrency and blockchain business; the persevering with affect of the COVID-19 pandemic and the emergence of recent variants; our capacity to draw college students with out a important lower in course charges; our capacity to proceed to rent, practice and retain certified academics; our capacity to take care of and improve our manufacturers; our capacity to successfully and effectively handle the enlargement of our faculty community and efficiently execute our progress technique; the end result of ongoing, or any future, litigation or arbitration, together with these referring to copyright and different mental property rights; competitors within the English language coaching sector in China; adjustments in our revenues and sure value or expense objects as a proportion of our revenues; the anticipated progress of the Chinese language English language coaching and personal training market; Chinese language governmental insurance policies relating to non-public instructional providers and suppliers of such providers; well being epidemics and different outbreaks in China; and common financial circumstances in China. The Firm doesn’t undertake any obligation to replace any forward-looking assertion, besides as required below relevant legislation. All data offered on this press launch and within the attachments is as of the date of this press launch, and the Firm undertakes no responsibility to replace such data, besides as required below relevant legislation.
For investor and media inquiries, please contact:
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
[email protected]
SOURCE Meten Holding Group Ltd.
[ad_2]
Source link