Derlin Holdings plans to acquire Bitcoin mining machines through the issuance of convertible bonds and warrants, and has signed a letter of intent with BM

ChainCatcher news, Derin Holdings (01709.HK) announced that the company has entered into a formal agreement with the seller Evergreen Wealth for the acquisition of Bitcoin mining machines. According to this agreement, the company has conditionally agreed to purchase and the seller has conditionally agreed to sell 2,200 units of S21XP HYD Bitcoin mining machines, with a total cost of 21.8526 million USD.

The cost of the Bitcoin mining machines will be paid through the issuance of the following: convertible bonds with a principal amount of 21.8526 million USD; 40 million warrants; and upon meeting profit conditions, the company will issue 13.4425 million profit shares. At the same time, a legally binding letter of intent has been signed with BM1 and BM2 to propose the purchase of an additional 1,900 units of S21e Hyd. and 1,095 units of S21e XP Hyd., with total costs of 8.349 million USD and 10.8766 million USD, respectively. The above transactions require authorization from a special general meeting of shareholders and approval from the Stock Exchange.