HK Stock Market Move | IB SETTLEMENT(00147) Soars Over 15%, Joint Venture Company Plans to Acquire American Bitcoin Mining Facility Operator

IB SETTLEMENT (00147) rose more than 15%, by the time of writing, it had increased by 15.38% to HK$0.27, with a turnover of HK$10.08 million. On the news front, on the evening of October 22, IB SETTLEMENT announced that its joint venture Keen Golden Limited, in which the company owns 70% equity, had entered into a non-legally binding letter of intent with SAITECH Limited (the seller) regarding a potential acquisition. According to this, Keen Golden intends to acquire 100% of the issued shares of SAI US INC (the target company) based on the acquisition agreement. It is reported that the target company is mainly engaged in operating Bitcoin mining data centers in the US. The main assets of the target company are a 5-megawatt Bitcoin mining facility and related operational licenses. The board of directors believes that the potential acquisition represents a significant milestone in the acquisition and expansion of Bitcoin mining computing power. The group will be able to optimize the operation of its mining business, including hardware selection, site hosting, energy management, and real-time software, thereby improving the operational efficiency and competitiveness of the Bitcoin mining business. The board of directors believes that the potential acquisition aligns with the group's business development strategy and plan in the fintech industry, bringing diversified sources of business for the group and creating long-term value for shareholders.