HK Stock Market Move | BITFIRE GROUP (01611) rose more than 8% in the afternoon, with a total increase of nearly 40% for the week. The company plans to acquire the AvenirX system.

BITFIRE GROUP(01611) rose more than 8% in the afternoon, rising 7.38% as of the time of publication to HK$3.2 with a turnover of HK$9.7817 million. On the news front, BITFIRE GROUP announced that it plans to acquire software assets from Future Capital Investment Management for approximately US$1.5775 million (approximately HK$12.3518 million). The software assets include the AvenirX system, a proprietary investment trading operating system developed in-house. By integrating the in-house developed core intellectual property into the group's ownership, the acquisition is expected to simplify internal technology deployment, enhance cross-market visibility, strengthen real-time risk management in the entire trading process, and improve execution efficiency, thus supporting the overall operational capability and long-term development of the group's asset management business. It is worth noting that well-known economist Fu Peng has joined BITFIRE GROUP as the Chief Economist. After joining BITFIRE GROUP, Fu Peng will provide his expertise in macro research and institutional-level investment strategy system construction. Analysts point out that Fu Peng's move from a traditional brokerage sell-side to a digital asset platform may also reflect the trend of accelerated integration between traditional finance and digital asset sectors.