HK Stock Market Move | DL Holdings GP (01709) rises by over 7%, planning to acquire 2995 BM miners from Bitmain to enhance the company's Bitcoin mining business.

DL HOLDINGS GP (01709) is now up more than 7%, as of the time of writing, it has increased by 6.5%, trading at 3.44 Hong Kong dollars, with a transaction volume of 1.15 billion Hong Kong dollars. On the news front, DL HOLDINGS GP announced the implementation of the acquisition of 1,900 BM miners (rack-mounted HASH supercomputing servers) from affiliates BM1 and BM2 of Bitmain, as well as 1,095 BM miners, at prices of 8.35 million USD and 10.88 million USD respectively. The company plans to settle the transactions with net proceeds from the placement and potential financing from Antalpha Digital. The board believes that signing the formal BM agreement will bring long-term financial returns and value to shareholders. The BM acquisition will further strengthen the Group's leading position in Bitcoin mining business among Hong Kong-listed companies, create diversified sources of income, and enable the Group to seize market opportunities for rapid expansion in the digital asset and blockchain fields. Taking into account the above benefits, the board considers the terms of the formal BM agreement and the transactions contemplated thereunder to be normal commercial terms and fair and reasonable, and in the overall interest of the Company and shareholders.