Bitcoin Price Stays Above $113,000 As Hong Kong’s Ming Shing Announces To Buy $483 Million In Bitcoin
Bitcoin MagazineBitcoin Price Stays Above $113,000 As Hong Kong’s Ming Shing Announces To Buy $483 Million In Bitcoin With Bitcoin price holding above $113,000, Hong Kong-based Ming Shing Group Holdings announced plans to acquire 4,250 BTC for $483 million at an average price of $113,638 per Bitcoin through convertible notes and warrants. This post Bitcoin Price Stays Above $113,000 As Hong Kong’s Ming Shing Announces To Buy $483 Million In Bitcoin first appeared on Bitcoin Magazine and is written by Vivek Sen.
Bitcoin Magazine
Bitcoin Price Stays Above $113,000 As Hong Kong’s Ming Shing Announces To Buy $483 Million In Bitcoin
Hong Kong-based construction company Ming Shing Group Holdings Limited has announced plans to acquire 4,250 Bitcoin for approximately $483 million, marking another significant entry into the growing roster of corporate Bitcoin treasury holders.
Bitcoin price remained steady at $113,000 as the NASDAQ-listed company (MSW) revealed it has entered into a Bitcoin purchase agreement with Winning Mission Group Limited at an average price of $113,638 per Bitcoin. The transaction, expected to close by December 31, 2025, will be financed through convertible promissory notes and share warrants rather than cash.
“We believe the Bitcoin market is highly liquid and the investment can capture the potential appreciation of Bitcoin and increase the Company’s assets,” said Wenjin Li, Chief Executive Officer of Ming Shing. “We are devoted to creating additional value for our shareholders and actively exploring options for the Company to grow further.”
The construction firm’s ambitious Bitcoin acquisition reflects its aggressive approach to Bitcoin treasury management. The announcement sent the company’s stock surging up to 10% on August 21.
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