Hong Kong Alcohol Company Buys 51% of Bitcoin Miner for $60 Million

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Hong Kong Liquor Corporation Purchases 51% of Bitcoin Miner for $60 Million

Hong Kong Alcohol Company Buys 51% of Crypto Miner for $60 Million

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Irrespective of what the central Chinese authorities tries to do or say, bitcoin and cryptocurrency stay well known investments among everyday men and women in China. And a new way to get publicity to the ecosystem just materialized for these with accessibility to the Hong Kong current market, a publicly traded organization entered the mining sector.

Also Read through: This 7 days in Bitcoin: Amazon Wishes to Track You and TD Ameritrade Crops a Flag

Wine and Mine

Hong Kong Alcohol Company Buys 51% of Crypto Miner for $60 MillionDiginex Restricted, a multinational crypto-asset investment decision enterprise headquartered in Hong Kong has announced it marketed a 51% stake of its cryptocurrency mining and high performance computing (HPC) procedure for $60 million USD to Madison Group Holdings (HKG: 8057), a distributor of alcoholic beverages. An MOU (memorandum of comprehending) among the two organizations thorough a amount of synergies, together with the leveraging of Diginex’s proprietary platform Digiassets that can be utilised by holders of cryptocurrencies to purchase high benefit wines and other assets.

Madison Holdings Team, previously Madison Wine, is an investment keeping organization primarily centered on the retail and wholesale alcoholic beverages enterprise. The firm presents a huge spectrum of great wines, wine relevant products and other spirits these types of as top quality and scarce whiskies, cognacs and Chinese baijiu in Hong Kong. Madison is outlined on the Hong Kong Inventory Trade since 2015.

GPU Farms in Asia, Sweden and Switzerland

Hong Kong Alcohol Company Buys 51% of Crypto Miner for $60 MillionDiginex, which privately owned, has places of work in Hong Kong, Switzerland, Germany and Japan. It has mining functions in Asia, Switzerland and Sweden. The $60 million investment decision by Madison is explained to permit Diginex to speedy observe the expansion of their GPU mining operations in Western Europe in partnership with hardware suppliers, electricity and stability providers in purchase to develop a protected and efficient GPU-based mostly cryptocurrency mining details heart.

Miles Pelham, the CEO of Diginex, said: “this money injection lets us to expedite our ways in direction of becoming the international company of Distributed Ledger Technologies. We will go on to construct out our mining operations in Sweden and Switzerland, but also aim on encouraging corporates and governments throughout the planet to implement transformative DLT programs.”

Are there any synergies concerning wine cellars and crypto mining farms that these providers can now exploit? Share your views in the responses area underneath. 


Visuals courtesy of Shutterstock.


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